Nasdaq To Provide Clearing Choice In Nordic Cash Equity Markets
Nasdaq announced it will provide a choice of CCP providers in Nordic cash equities for its members on Nasdaq exchanges in Stockholm, Helsinki and Copenhagen.
Nasdaq and SIX Swiss Exchange have agreed to introduce additional CCPs to their local markets. In addition to SIX x-clear AG, Nasdaq will introduce LCH.Clearnet Ltd as a cash equity CCP provider. Both SIX x-clear AG and LCH.Clearnet Ltd will become interoperable with the existing clearing partner of Nasdaq in the Nordics, European Central Counterparty N.V., EuroCCP.
Senior Vice President Lauri Rosendahl, Head of European Equities at Nasdaq, said: “We have earlier announced our intent to pursue a competitive cash equity clearing model on the Nasdaq Nordic markets. We are now confident that the competitive clearing model with three interoperating CCPs will contribute to the long-term competitiveness of Nasdaq Nordic markets and benefit the European markets as a whole.”
Nasdaq is currently working with its partners on these initiatives to identify when they will be delivered. Nasdaq will advise the market accordingly as soon as a definitive timeline has been agreed.
Both initiatives are subject to necessary regulatory consent or approvals from regulators, including the regulators of Nasdaq Nordic exchanges.
Source: Nasdaq – To Provide Clearing Choice In Nordic Cash Equity Markets
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