On May 16th 2016, Nasdaq will introduce a new service - Netting of Generic Rates Instruments within the same account. The new functionality is a risk reduction service, where trades can be removed without impacting the interest rate risk. Generic Rates Netting enables members and their clients to terminate large outstanding notional amounts in Generic Rates Instruments before the contracts’ ordinary expiry.
The service will support both full and partial netting of equal but opposite trades, and trades with blended rates, into one or more trades. The netting request can only be done on position account level and the request is done manually in Genium INET by the member – on its own behalf or behalf of one of its clients.
Changes to the Fee List in relation to Netting of Generic Rates Instruments:
In Connection with Compression or Generic Rates Netting, the Clearing House will charge a fee of SEK 250 per terminated trade regardless of notional amount.
For further information please see attachment or contact Nasdaq Fixed Income Team at fixedincomesweden@nasdaq.com
Best regards,
Nasdaq Clearing
