About the Clearing House -

governance, strategy, rules, policies and financial statements

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Nasdaq Clearing has a unique offering of clearing across multiple asset classes, primarily in Nordic derivatives, available to international and regional members and investors.

Our clearing model includes risk management to the highest standards, a wide collateral list, integrated clearing of exchange traded instruments as well as an OTC offering in multiple currencies

Strategy

Our Mission is to deliver services for capital efficient management of risk, that empower businesses and investors to succeed while safeguarding the financial stability in the markets we operate.

Nasdaq Clearing’s strategic plan is to build a preeminent European CCP by focusing the core business, seizing opportunities through diversification across the value chain and to be a catalyst for economic growth built on a foundation of technology, innovation and sustainability.

The CCP will continue to extend its business across the European landscape with a firm anchoring in the Nordic markets.

Governance

For details on the Board of Directors, committees and management.

BOARD OF DIRECTORS OF NASDAQ CLEARING AB

CHAIRMAN: Bjørn Sibbern, Executive Vice President and President of European Markets
INDEPENDENT BOARD MEMBER: Lars Nyberg (former Board Member of the Swedish Financial Supervisory Authority and former Deputy Governor of the Swedish Central Bank)
INDEPENDENT BOARD MEMBER: Sonja Daltung (former Board Member of the Swedish Financial Supervisory Authority and former Director General of the Swedish Agency for Growth Policy Analysis)
BOARD MEMBER: John Zecca, Executive Vice President and Chief Legal, Risk and Regulatory Officer, Nasdaq
BOARD MEMBER: Chantal Wessels, Vice President, Nasdaq
BOARD MEMBER: Roland Chai, Executive Vice President, Market Technology, Nasdaq

MANAGEMENT

CHIEF EXECUTIVE OFFICER: Daniela Peterhoff
CHIEF RISK OFFICER: Irina Slinko
CHIEF TECHNOLOGY OFFICER: Gustaf von Boisman
CHIEF OPERATING OFFICER: Henrik Selhammer
CHIEF COMPLIANCE OFFICER: Jan Axelsson
STRATEGY AND CLIENT RELATIONS: Göran Bolin
INTERNATIONAL AFFAIRS: Erica Brown
HEAD OF CLEARING RISK: Patrik Löhr

BOARD COMMITTEES

MEMBER RISK COMMITTEE: Chair - Lars Nyberg. Members - SEB, Swedbank, Uniper, Fortum, Société Générale, Vattenfall, Danske Bank, ABN Amro, AMF, Axpo. Member Risk Committee Charter
REMUNERATION COMMITTEE: Chair - Lars Nyberg
AUDIT COMMITTEE: Chair (interim) - Lars Nyberg

MANAGEMENT COMMITTEES

NASDAQ CLEARING RISK COMMITTEE: Chair - Daniela Peterhoff
DEFAULT COMMITTEE: Chair - Patrik Löhr
RECOVERY COMMITTEE: Chair - Daniela Peterhoff

Rulebook

This section contains links to our rulebook.

RULEBOOK:

Nasdaq Derivatives Markets

Nasdaq Commodities

Legal Framework

For details on legal framework and legal status of Nasdaq Clearing AB.

LEGAL FRAMEWORK

In Sweden, clearing is primarily governed by the following acts:

Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EMIR)
Securities Market Act (2007:528)
Systems for the Settlement of Obligations on the Financial Market Act (1999:1309)
Financial Instruments Trading Act (1991:980)
Rights of Priority Act (1970:979)
Swedish Bankruptcy Act (1987:672)
Financial Instruments Accounts Act (1998:1479)

In addition to the above-mentioned acts and Norwegian legislation applicable in respect of the Oslo Branch of the Company, Nasdaq Clearing has issued Rules applicable to its clearing activities in relation to Nasdaq Derivatives Markets and Nasdaq Commodities, respectively. The Rules, together with the membership agreements, constitute the contractual framework governing the relationship between Nasdaq Clearing and its members. The Rules become binding for members through the execution of the member agreement. The governing law for the contractual relationships between Nasdaq Clearing and the respective member is:

Swedish law (for Nasdaq Derivatives Markets); and
Norwegian law (for Nasdaq Commodities)

THE LEGAL STATUS OF NASDAQ CLEARING AB

Nasdaq Clearing AB, a private limited company incorporated in Sweden and subject to Swedish company law, is authorized and supervised as a multi-asset clearing house by the Swedish Financial Supervisory Authority and is also authorized to conduct clearing operations via its Norwegian branch Nasdaq Oslo by the Norwegian Ministry of Finance. As the first CCP in Europe, Nasdaq Clearing received authorization under Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (“EMIR”) in March 2014.

The clearing system has been approved by Finansinspektionen as a settlement system according to Systems for the Settlement of Obligations on the Financial Market Act and as such notified to the European Securities and Markets Authority (ESMA). The Norwegian Financial Supervisory Authority has also approved the clearing system under corresponding Norwegian legislation.

Nasdaq Clearing has arrangements in place with relevant Central Securities Depositories in accordance with applicable laws and regulations.