Local Entity Appoints New Independent Directors
NASDAQ OMX (NASDAQ: NDAQ) today announces a new operating structure for the local entity in Stockholm, Sweden, as a part of the continued compliance with key EU regulation EMIR, (European Market Infrastructure Regulation).
Independent directors have been appointed for NASDAQ OMX Stockholm AB. These appointments are in preparation for the separation of the clearing operations and the exchange related operations within NASDAQ OMX Stockholm AB that will be executed on September 3, 2013.
The current clearing house operation will then be maintained within the current company, which will be renamed to NASDAQ OMX Clearing AB. All exchange related operations will be moved to another separate company within the NASDAQ OMX Group. The exchange company will assume the name NASDAQ OMX Stockholm AB.
Under the new structure, Johan Rudén has been appointed President of NASDAQ OMX Clearing AB, and Magnus Billing has been appointed President of NASDAQ OMX Stockholm AB.
In addition, Fredrik Ekström has been appointed Chief Risk Officer of NASDAQ OMX Clearing AB. A Member Risk Committee will be formed during the fall 2013.
The application for a renewed clearing license under EMIR regulation has been submitted to the Swedish Financial Supervisory Authority, and it has been considered complete by the FSA. Final approval is expected later this year.
The appointed Board Directors of NASDAQ OMX Stockholm AB, to be renamed to NASDAQ OMX Clearing AB on September 3, are:
Non- executive, independent directors:
Lars Nyberg, former Board Member of the Swedish Financial Supervisory Authority and former Deputy Governor of the Swedish Central Bank.
Osmo Jauri, co-partner and owner of financial risk management systems company Model IT Oy.