Nasdaq to introduce competitive clearing on Nordic market

Source: Nasdaq

Nasdaq announces it will provide a choice of CCP providers for trading members on the Nasdaq Nordic cash equity markets in Stockholm, Helsinki and Copenhagen.

Nasdaq Nordic will introduce LCH.Clearnet Ltd and SIX x-clear AG as additional cash equity CCP providers. Both new CCPs, along with EuroCCP N.V., the existing CCP for the Nasdaq Nordic cash equity markets, will become interoperable on Nasdaq Nordic equity markets.

The tentative timeline for the introduction of competitive clearing for LCH Clearnet is November 23, 2015, and March 29, 2016 for SIX x-clear, pending necessary regulatory approvals.

“A competitive clearing model in cash equities will increase liquidity and lower investor costs,” said Hans-Ole Jochumsen, President, Nasdaq. “Introducing a choice of CCP for the benefit of trading members will fundamentally contribute to the long-term competitiveness of both the Nasdaq Nordic and European markets.”
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