NASDAQ OMX CLEARS FIRST BUY-SIDE CLIENT INTEREST RATE SWAP

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| Source: NASDAQ OMX Nordic

Stockholm, December 23 — NASDAQ OMX Clearing today announced its first buy-side client cleared Interest Rate Swap. The first non-member trade was cleared between SEB and Nektar Fund.

”We are pleased to be able to offer buy-side firms access to our OTC clearing service,” said Magnus Billing, President of NASDAQ OMX Stockholm and Head of Fixed Income. “There has been significant buy-side interest for an efficient and effective clearing offering. We are pleased to deliver access to this important client group and the adoption has been positive. We are experiencing steady volume growth and recently reached 200 bn SEK in cleared IRS volumes,” Magnus Billing said.

The OTC instruments available for clearing are Swedish Krona denominated Interest Rate Swaps, Overnight Index Swaps and Forward Rate Agreements. NASDAQ OMX plans to expand the service to also include Danish Krona, Norwegian Krona and Euro denominated instruments during 2014. Buy-side firms can access the OTC clearing service through approved OTC clearing members (see full list via link provided below).

The total open interest in Interest Rate Swaps now accumulates to over SEK 200 bn. NASDAQ OMX is the second largest IRS Clearinghouse in Europe.

“Our goal has always been to support buy-side clearing access,” said Tomas Engel, Sales & Development at SEB Clearing Services.

“We look forward to maintaining an attractive and robust client clearing service, increasing currency and our product scope for years to come,” said Gabriel Vimberg, Sales & Development at SEB Clearing Services.

”We have cleared our Scandinavian trading business with NASDAQ OMX for many years and have followed their swap clearing development efforts closely. We feel confident and excited to clear our first SEK Swap with NASDAQ OMX,” said Gunnar Wiljander, CEO at Nektar Asset Management, a part of Brummer & Partners group.

See below link with list of approved interest rate swap clearing members:
http://www.nasdaqomx.com/europeanclearing/products/fixed-income/rates-otc-clearing/members

 

 About NASDAQ OMX Group

The NASDAQ OMX Group, Inc (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 80 marketplaces in 50 countries, and approximately 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,300 listed companies with a market value of over $7 trillion and more than 10,000 corporate clients. 

To learn more, visit www.nasdaqomx.com.

 

Cautionary Note Regarding Forward-Looking Statements

Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties.  NASDAQ OMX cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information.  Such forward-looking statements include, but are not limited to, statements about our capital return initiatives.  Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX’s control.  These factors include, but are not limited to, NASDAQ OMX’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in NASDAQ OMX’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on NASDAQ OMX’s website at http://www.nasdaqomx.com and the SEC’s website at www.sec.gov.  NASDAQ OMX undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

 

Media Relations Contact:

NASDAQ OMX
Carl Norell
+46 8 405 66 39
carl.norell@nasdaqomx.com