NASDAQ OMX continuously seeks to make markets more efficient and customer friendly in order to attract liquidity in our products. Post trade issues are often tightly connected to the clearing house and the clearing model.
In light of this, NASDAQ OMX, in co-operation with market participants, has decided to change the settlement propagation of premiums and fees from trading accounts to position accounts. The purpose of this is to harmonize our clearing model with international standards. The trading account to position account propagation is sometimes referred to as “automated give-ups”. This means that all premiums and fees will be payable by the position account holder and no payments will be made by the trading account holder.
The implementation will take place in connection with the Rules and Regulation update scheduled for mid-June, 2011. The exact date will be communicated at a later time.
The change will be effective in External Test System 1 in April, 2011 to allow members and third-party system providers adequate time for testing.
For further information concerning this exchange notice please contact Joakim Norbäck or Anders Bergström, telephone +46 8 405 73 60, or derivatives@nasdaqomx.com
