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.