As of July 1st, 2011 NASDAQ OMX will implement a delay fee for failed physical delivery in equity derivatives. The objective is to increase the settlement ratio for delivery of shares after derivatives expiration.
The delay fee will consist of a variable fee based on the settlement amount, the number of days the delivery is outstanding and a fixed fee.
The delay fee will be calculated as below.
| DKK / NOK / SEK | EURO | |
| V = Variable fee | 100 | 10 |
| S = Settlement amount | Settlement amount divided by one million and rounded up to nearest integer. | Settlement amount divided by one hundred thousand and rounded up to nearest integer. |
| D = Number of delayed days | Actual Settlement Date - Original Settlement Date | Actual Settlement Date - Original Settlement Date |
| F = Fixed fee | 1 500 | 150 |
DKK/NOK/SEK 100 (V) per started million (S), times number of delayed days (D) plus the fixed fee of 1 500 (F).
Euro 10 (V) per started hundred thousand (S), times number of delayed days (D) plus the fixed fee of 150 (F).
The delay fee is accumulated and is debited / credited quarterly in each currency in accordance with the Fee List in force from time to time.
The delay fee applies to all parties in the settlement chain, including the Clearing House. If the Clearing House would fail to timely perform delivery, the affected clearing member will be credited the fee that NASDAQ OMX will debit the failing counterparty.
Members are encouraged to ensure that clients are aware of the above mentioned implementation.
For further information regarding this exchange notice, please contact Clearing Operations, telephone +46 8 405 6880 or derivatives@nasdaqomx.com
NASDAQ OMX Derivatives Markets
