June 4, 2015 – Nasdaq today announces 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.
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. 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 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of approximately 9.5 trillion and more than 10,000 corporate clients. To learn more, visit nasdaq.com/ambition or business.nasdaq.com.
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Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements about our capital return initiatives. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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 OMX Copenhagen A/S, Nasdaq OMX Helsinki Ltd., Nasdaq OMX Iceland hf., Nasdaq OMX Riga, AS, Nasdaq OMX Stockholm AB, Nasdaq OMX Tallinn AS, AB Nasdaq OMX Vilnius, Nasdaq OMX Clearing AB, Nasdaq OMX 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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