Derivatives Membership

application process and onboarding

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How to Become a Member

All participation on the Nasdaq Derivatives Markets is performed through its members. Next follows a step-by-step description on how to obtain a membership at Nasdaq Derivatives Markets.

1. Contact Us

Please contact us to learn more about our markets and the membership process. You are welcome to contacting us by sending an email to NordicSalesTeam@nasdaq.com


2. Choose Membership Type

General Clearing Member- GCM

Entitled to participate in the clearing activities of the clearing house

  1. On its own behalf
  2. On behalf of customers including non-clearing members (NCM)

Non-Clearing Member - NCM

Trading member who clears trades via a General Clearing Member.

GCM contact details

Direct Clearing Member - DCM

Entitled to participate in the clearing activities at the exchange

  1. On its own behalf
  2. On behalf of customers excluding non-clearing members (NCM)

Direct Clearing Client - DCC

Entitled to participate in the clearing activities of the clearing house

  • On its own behalf

3. Send in Membership Application Including Appendices

Fill in the below Membership application form and send in together with appendices:

Please attach the following appendices to the application:

  • Annual report for the previous year (signed by Auditor)
  • Interim Report (if existing)
  • Articles of Association
  • Copy of relevant authorizations to provide investment services from local FSA
  • Copy of the company’s Certificate of Incorporation (max 2 months old)
  • Documentation evidencing due authorization of the signing person(s) to sign on behalf of the relevant legal entity
  • A list of signatories with signature samples of the signing person(s) and/or copies of official ID of the signing person(s) (passport, national ID etc.)
  • Description of the ownership structure (if part of a group of companies)

Please find relevant documents in the Resource Center below.


4. Membership Testing of the Genium INET Trading and Clearing System

Make sure you discuss your market access setup and account structure with your Nasdaq membership coordinator. The structure can then be verified in a test environment before go live.


5. Connectivity and Software

For conformance test of software used towards Nasdaq, please contact Technical Support with team to arrange testing.


6. Education and Authorization of Traders and Back-office Personnel

Each trading member is required to have a minimum of two authorized traders registered for Genium INET Trading.


7. Member Agreements and Forms to be Completed

Fill in, sign and send documentation to Nasdaq.

  • Originals should be delivered to:

Nasdaq Vilnius
Att: Memberships
Business center K29
Konstitucijos pr. 29
LT-08105 Vilnius
Lithuania

 

Below is an overview of all membership agreements and forms. Please find downloadable documents and forms in the Resource center further down on this page.

 

Member Agreements

Agreement/Form Mandatory Required shape Required Signature Purpose
Exchange Member Agreement for exchange members Two (2) originals Authorized signatory Two party agreement between applicant and Nasdaq Stockholm AB (the Exchange)
Clearing Member Agreement for GCM or DCM Two (2) originals Authorized signatory Two party agreement between applicant and Nasdaq Clearing AB (the Clearing House)
Clearing Agreement for NCM Original with GCM, scanned copy to Nasdaq Authorized signatory Two party clearing agreement between NCM and GCM
Direct Clearing Client Agreement for DCC Three (3) originals Authorized signatory Two party agreement between applicant, GCM/DCM and Nasdaq Clearing AB
Entry form Yes Signed and scanned copy Form to specify and request market access
License agreement: Genium INET Clearing Workstation CW1 for GCM, DCM and DCC Two (2) originals Authorized signatory License agreement for the Genium INET Clearing Workstation software
License agreement: Genium INET Trading Workstation Two (2) originals Authorized signatory License agreement for the Genium INET Trading Workstation software
License Agreement: OMnet Yes Two (2) originals Authorized signatory Agreement to access Nasdaq OMnet API
Access agreement - TradeGuard Signed and scanned copy Authorized signatory Agreement to access Nasdaq TradeGuard service

System Access

Agreement/form Mandatory Required shape Requires Signature Purpose
Exchange Trader Application for exchange members Signed and scanned copy Registration form for authorized traders (minimum 2). Received when authorization is completed.
Trading Access Form (Request for Access) Signed and scanned copy Request for Trading Workstation GUI user
Clearing Access Form (Request for Access) for GCM, DCM and DCC Signed and scanned copy Request for Clearing Workstation GUI user (CW1 or CW2)
CMS Web Access form (Request for Access) for GCM, DCM and DCC Signed and scanned copy Request for Collateral Management Web GUI admin user
Third party access - CMS Web Signed and scanned copy Applicable if DCA will handle CMS for DCC
Request for access - FIX/FIX Drop Signed and scanned copy Request for FIX ports
Request for access - ITCH Signed and scanned copy Request for ITCH feed
Request for access - TradeGuard Signed and scanned copy Request for TradeGuard
Member Portal Administrator Appointment Form for GCM, DCM, DCA and NCM Signed and scanned copy Authorized signatory Form to appoint Administrator(s) in accordance with the provisions of the General Terms of Nasdaq Member Portal.

Collateral and Default Fund

Agreement/Form Mandatory Required shape Required Signature Purpose
Default Fund Custody Account Agreement for GCM, DCM and DCC Two (2) originals Authorized signatory For the custody account holding member’s posted default fund contribution
Collateral Custody Account Agreement for GCM, DCM and DCC Two (2) originals per custody account Authorized signatory For the custody account holding member’s posted collateral
Collateral SSI form for GCM, DCM and DCC Signed and scanned copy For call back of posted collateral. Same for Collateral and Default Fund, or separate
Member Preferences (CMS) for GCM, DCM and DCC Electronic copy Form to provide member’s preferences regarding base currency, currency for fees and report subscription

Settlement

Agreement/Form Mandatory Required shape Required Signature Purpose
Cash Settlement – Power of Attorney for GCM, DCM and DCC Original to bank, electronic copy to Nasdaq Authorized signatory and Settlement Bank Agreement with Settlement Bank to debit/credit daily settlement. Must be approved by Settlement Bank
SSI for Securities for GCM, DCM and DCC Signed and scanned copy Delivery instructions for physical deliveries
Get forms on Nasdaq Clearing Collateral Management -page

8. Get Confirmation and Start Trading and Clearing at Nasdaq

Trading and clearing can start when all agreements and forms have been approved by Nasdaq, technical access has been established and a start date has been agreed.

Member Agreements and Forms

Settlement

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