16 October 2008 News

 

Nasdaq OMX Nordic Exchange appoints EMCF as CCP

Nasdaq OMX has selected European Multilateral Clearing Facility to provide central counterparty clearing for the cash equity markets Stockholm, Helsinki, Copenhagen and Iceland. A Memorandum of Understanding has been signed with regards to these Nordic clearing services.

EMCF, owned by the Dutch government following its nationalisation of Fortis' operations in the Netherlands, already offers CCP services for equity trading on Chi-X, Nasdaq OMX Europe and will provide them to BATS Europe upon launch.

Nasdaq OMX will introduce a CCP solution for the cash equity markets on its exchanges in the Nordics. Optional CCP clearing will be offered from January 2009. Full CCP clearing is planned to be in effect from June 2009. The CCP introduction is subject to regulatory approval.