As previously communicated in Exchange Notice 64/13, NASDAQ OMX Derivatives Markets will as of February 17, 2014, in connection to the introduction of revised open interest publication, introduce a late netting fee. The fee will be charged for late Set-Offs, i.e. position closing adjustments which do not take place before the stipulated deadline, 12:00 CET on the day after trade (‘T+1’). Please find the fee levels below.
Product Late netting fee
Swedish stock index futures (OMXS30, OMXSB) SEK 7.00/contract
Danish stock index futures (OMXC20CAP) DKK 3.20/contract
Norwegian stock index futures (OMXO20) NOK 4.00/contract
Nordic stock index futures (VINX30) EUR 0.50/contract
The changes are done in order to improve the relevance and accuracy of published open interest figures, this is especially of importance during expiration weeks.
Furthermore NASDAQ OMX Derivatives Markets has detected that the calculation of closing fees for futures on omnibus accounts has been performed incorrectly due to an issue in the clearing system. Currently the fee is incorrectly calculated based on the absolute net difference of long and short positions in a futures contract. This will be corrected and as of February 17, 2014, the closing fee will correctly be calculated for the long and short positions individually. This means that it is important to close-out the front-month contract for rolled index futures positions to avoid paying both a transaction and closing fee.
For further information concerning this exchange notice please see the attached file or contact Joakim Fernlund or Richard Pafford, telephone +46 8 405 60 00.