NASDAQ OMX Clearing AB announced today that following the EMIR approval and the relating streamlining of processes, lower clearing fees will be implemented and the collateral list will be extended to include additional assets.
NASDAQ OMX Clearing AB was the first European clearing house to receive an approval under the EMIR regulation in March 2014. Pursuant to the extensive work that has been carried out in order to ensure EMIR compliance NASDAQ OMX Clearing AB has been able to enhance and streamline its procedures and increase efficiency. At the same time NASDAQ OMX Clearing AB has further developed its risk management.
As a result NASDAQ OMX Clearing AB is able introduce two new fee and rebate models for client clearing of SEK Fixed Income products. The new models will supplement the existing client fee and rebate model and will be available from January 1, 2015.
“We are pleased to leverage the hard work that has been put in to the EMIR reauthorization process and offer our clients a highly competitive rebate program,” said Magnus Billing, Head of Nordic Fixed Income, NASDAQ OMX. “To qualify for a certain rebate clients must reach pre-defined clearing fee levels, which will vary depending on clients’ choice of rebate model. The fee and rebate models will be offered on a client-by-client basis.”
In the interim period, NASDAQ OMX Clearing AB will offer adjusted client clearing rebates.
As a first step in broadening the list of eligible collaterals, NASDAQ OMX Clearing AB will also extend the list to include green bonds issued by IFC. Green bonds issued by IFC support private sector investments in renewable energy and energy efficiency. The growing risks brought on by climate change are raising development costs and these bonds are delivering finance that can help countries adapt to and mitigate climate change, while providing investors with high-quality-credit, fixed-income investment opportunities that have a positive impact.