As previously communicated in IT Notice 6/12, NASDAQ OMX Nordic is planning to introduce competitive central counterparty clearing on the equity markets from April 20, 2012, subject to necessary regulatory approvals or consents. Starting from that date, members of NASDAQ OMX Nordic may choose their CCP service provider from EMCF, EuroCCP and SIX x-clear.
This exchange notice contains information on testing of the reference data provided via TIP 2.4.2, affecting all participants, as well as information on testing of new CCP set-up, affecting participants who wish to change their CCP provider.
1. Testing of the reference data available as of March 1, 2012
- Extended CCP functionality will be available for testing and verification with the below order book configuration in INET Nordic OTF as of March 1, 2012 (earlier communicated date: March 19, 2012).
- TIP 2.4.2 will be available for testing of the removed and added basic data fields in GCF4 as of March 1, 2012 (earlier communicated date: March 19, 2012).
Symbols assigned for CCPs
The below symbols will be used in all protocols, both in test and production environments
| CCP name | Symbol |
| EMCF | MCF |
| EuroCCP | ECCP |
| SIX x-clear | XCLR |
INET Nordic OTF configuration of order books in following segments
| Segment name | Segment sequent no | CCP cleared by |
| First North NOK | 195 | EMCF, ECCP, XCLR |
| OMX CPH Equities CCP | 183 | EMCF, ECCP, XCLR |
| OMX HEL Equities CCP | 181 | EMCF, ECCP, XCLR |
| OMX STO Equities CCP | 182 | EMCF, ECCP, XCLR |
| OMX STO Equities NOK | 180 | EMCF, ECCP, XCLR |
| OMX HEL Fund units | 69 | EMCF |
| OMX STO Fund units | 17 | EMCF |
| OMX STO Fund units NOK | 185 | EMCF |
Please note that the test system CCP configuration for ETFs may be changed to also include either one or both of ECCP and XCLR. In case of any changes, it will be communicated separately via IT notice.
INET Nordic PROD configuration is subject to the ongoing regulatory review of ETFs. After implementation of competitive clearing to INET Nordic PROD, the configuration of INET Nordic OTF will be a copy of INET Nordic PROD.
2. Testing of changed CCP set-up
Testing is performed at participant discretion, but is recommended. Participants changing CCP provider and wishing to test their new CCP set-up are requested to fill in a CCP Clearing and Settlement Change Form for setting up the participants test MPID’s static data before testing. For further information, please call Member Services, tel. +46 8 405 6660.
- Participants changing CCP in the period from April 20 to April 27, 2012 are asked to send the form to memberservices@nasdaqomx.com latest by March 19, 2012.
- Participants changing CCP after April 27, 2012 are asked to contact Member Services if they require a test set-up.
Test support
Participant testing is voluntary. NASDAQ OMX Nordic will not provide test cases nor follow up the participant testing activity from trade execution to settlement. On request, NASDAQ OMX Nordic will match orders with dummy test participants. For test support, please contact Trading Operations, tradingoperations@nasdaqomx.com , tel. +46 8 405 6570.
Testing hours
CCPs’ test systems are available according to table below. Trades executed before the cut-off time will be sent to relevant CCP. Testing in OTF may be possible after the cut-off time but the trades executed after this time are not routed onwards to respective CCPs.
| CCP | Processing cut-off time for NASDAQ OMX Nordic trades |
| EMCF | 13:00 CET |
| EuroCCP | 18:00 CET |
| SIX x-clear | 16:00 CET |
Planned dates for production
- Competitive clearing with extended CCP functionality will be in INET PROD as of Friday, April 20, 2012.
- TIP 2.4.2 release will be in GCF PROD as of Monday, April 23, 2012.
Please note the reference data is not available until the business day after launch of competitive clearing.
For further information concerning this exchange notice please contact Technical Support,
tel. +46 8 405 6410.
NASDAQ OMX Nordic
