About the Nasdaq Clearing House
About the Nasdaq Clearing House
Our Offering
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
- Chairman: Nikolaj Kosakewitsch, Head of European Markets, Nasdaq
- 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)
- Independent Board Member: Per Strömberg (Professor, SSE Centennial Chair in Finance and Private Equity at Stockholm School of Economics)
- Independent Board Member: Lee Betsill (Founder and Managing Director of Balbegno Group Ltd and Independent Non-Executive Director and member of the Risk & Audit Committee for the Canadian Exchange Group, TMX)
- Board Member: Magnus Haglind, Senior Vice President, Head of Market Infrastructure Technology, Nasdaq
- Board Member: Christian Mittelberg, Senior Vice President, Chief Risk Officer, Nasdaq
- Board Member: Laura DeLorenzo, Vice President, Head of Global Reporting and Accounting Policy, Nasdaq
- Chief Executive Officer: Christian Sjöberg
- Chief Risk Officer: Irina Slinko
- Chief Technology Officer: Gustaf von Boisman
- Chief Compliance Officer: Jan Axelsson
- Head of CCP Sales: Jacob Westermark
- Head of International Affairs: Erica Brown
- Head of Clearing Risk: David Cook
- Head of CCP Treasury: Tanja Raassina Harrison
- Member Risk Committee: Chair - Lars Nyberg. Members - SEB, Swedbank, JP Morgan Fortum, ABN Amro, Vattenfall, Alecta, Susqueanna, E.ON Sverige. Member Risk Committee Charter
- Remuneration Committee: Chair - Lars Nyberg
- Audit Committee: Chair - Per Strömberg
- Nasdaq Clearing Risk Committee: Chair - Christian Sjöberg
- Default Committee: Chair - David Cook
- Recovery Committee: Chair - Christian Sjöb
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)
- Regulation (EU) 2021/23 of the European Parliament and of the Council of 16 December 2020 on a framework for the recovery and resolution of central counterparties.
- 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 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
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.
Rules and Regulation
Rules governing membership, trading, and clearing on Nasdaq’s derivatives markets
Nasdaq Derivatives Markets Rules & RegulationsBusiness Continuity Plan
Nasdaq Clearing has business continuity and disaster recovery arrangements in place.
Business Continuity Plan DescriptionSupport
- Clearing Operations
clearing@nasdaq.com
+46 8 405 6880 - Member Services
MAC@nasdaq.com - Risk Management
clearing.risk@nasdaq.com
+46 8 405 7088 - Genium INET Technical Support
technicalsupport@nasdaq.com
+46 8 405 6750
Resource Center
Membership within Nasdaq Clearing AB
Derivatives Membership
Step-by-step description on how to obtain a membership at Nasdaq Derivatives Markets.
Explore MoreClearing Services
Cleared Markets
Central counterparty clearing for several markets including Equity derivatives, Index, and Fixed Income.
Explore MoreClearing Model
A broad range of options for market access, segregation and portability.
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