Stockholm, August 21, 2013 — NASDAQ OMX (NASDAQ: NDAQ) today announces a new operating structure for the local entity in Stockholm, Sweden, as a part of the continued compliance with key EU regulation EMIR, (European Market Infrastructure Regulation).
Independent directors have been appointed for NASDAQ OMX Stockholm AB. These appointments are in preparation for the separation of the clearing operations and the exchange related operations within NASDAQ OMX Stockholm AB that will be executed on September 3, 2013.
The current clearing house operation will then be maintained within the current company, which will be renamed to NASDAQ OMX Clearing AB. All exchange related operations will be moved to another separate company within the NASDAQ OMX Group. The exchange company will assume the name NASDAQ OMX Stockholm AB.
Under the new structure, Johan Rudén has been appointed President of NASDAQ OMX Clearing AB, and Magnus Billing has been appointed President of NASDAQ OMX Stockholm AB.
In addition, Fredrik Ekström has been appointed Chief Risk Officer of NASDAQ OMX Clearing AB. A Member Risk Committee will be formed during the fall 2013.
The application for a renewed clearing license under EMIR regulation has been submitted to the Swedish Financial Supervisory Authority, and it has been considered complete by the FSA. Final approval is expected later this year.
The appointed Board Directors of NASDAQ OMX Stockholm AB, to be renamed to NASDAQ OMX Clearing AB on September 3, are:
Non- executive, independent directors:
Lars Nyberg, former Board Member of the Swedish Financial Supervisory Authority and former Deputy Governor of the Swedish Central Bank.
Osmo Jauri, co-partner and owner of financial risk management systems company Model IT Oy.
For more extensive bio’s, see appendix
NASDAQ OMX directors
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99+% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,300 listed companies worth more than $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (www.facebook.com/NASDAQ) and Twitter (www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
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 futures products to be traded on NFX and NASDAQ OMX's other 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 OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX'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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Education: Mr. Nyberg holds a doctor degree (PhD) in Economics from Handelshögskolan in Stockholm.
Former and current occupations and board seats:
Lars Nyberg served as Deputy Governor at Sweden’s Centralbank (Riksbanken) starting 1999 and until terms of office expired December 31, 2011.
Mr. Nyberg has been a member of the Board of Finansinspektionen (the Swedish Financial Supervisory Authority) from 2000 until August 2013. He has been a member of various international groups such as the Committee for Global Financial stability in Basel, the Banking Supervision Committee in Frankfurt (ECB) and the deLaroisière Group. He has chaired a number of working groups related to crisis management and resolution within the Economic and Financial Committee in Brussels.
Mr. Nyberg is an associate professor in Economics and has ... previously held positions as Executive Vice President at Svenska Handelsbanken and Swedbank and CEO of Länsförsäkringsbolagens förening.
Education: Osmo Jauri has a doctorate degree in Physics from the Aalto University, and a M.Sc. in Finance.
Current Occupation and board seats:
Co-partner and owner of Model IT Oy, a company specialized in risk management systems and tools, and risk methodology, mainly for the financial industry
Osmo Jauri has a broad practical experience of financial risk management in the finance industry, both in theory and practice. He has been responsible in overseeing the derivatives risk management in KOP Bank (Nordea’s predecessor) and worked in the winding down project regarding the Savings Bank group during the financial crisis in the 1990s as well as in Garantia, the largest Finnish credit insurance company and for Evli Bank.
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