Stockholm, June 15, 2017 — Nasdaq (Nasdaq: NDAQ) Clearing today announced a new all-time high for its clearing of Interest Rate Swaps when open interest in SEK denominated swaps reached SEK 1 trillion.
“Developing and sustaining a strong and resilient Nordic financial market is in the foundation of Nasdaq’s European business,” says Fredrik Ekström, Head of Nordic Fixed Income. “We are starting to see the effects of the European clearing obligation, and we are working in close cooperation with our members and clients to keep developing our services in a new regulatory landscape. Reaching this milestone is a strong indication that we are being successful.”
Since the clearing obligation under Article 4 of EMIR was implemented on June 16 2016, OTC derivative contracts that are subject to mandatory clearing must be cleared in an EMIR authorized CCP, such as Nasdaq Clearing.
“As a customer-owned occupational pension provider, we share a responsibility for 2 million individuals future pension,” says Michael Kjeller, Chief Investment Officer at Folksam. “Financial stability is important, and Nasdaq enables us to work with a local CCP that provides us with transparency and a strong protection against potential counterparty defaults.”
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to 3,800 total listings with a market value of $11 trillion. To learn more, visit: http://business.nasdaq.com
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
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The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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