EuroCCP Gears Up For Nordic Launch

As EuroCCP prepares to launch equities clearing services for NASDAQ OMX exchanges in Denmark, Finland and Sweden, it has rolled out a new section on its website to help current and prospective clients get ready to sign on to EuroCCP’s Nordic services.

The web page, residing within the “Our Services” section of the website, describes the introduction of competitive clearing in the Nordic region within the context of the European Code of Conduct for Clearance and Settlement. EuroCCP is one of several central counterparties (CCPs) that will be offering clearing services to the NASDAQ OMX exchanges in Copenhagen, Helsinki and Stockholm.

EuroCCP services are expected to launch in 2010, subject to EuroCCP receiving regulatory approval from the UK Financial Services Authority and applicable Nordic regulators to operate as a CCP to trades executed on the NASDAQ OMX exchanges.

EuroCCP has been clearing trades from Denmark, Finland, Sweden and 12 other European countries since 2008 for multilateral trading facilities, covering over 750 securities in the Nordic region. The new service for NASDAQ OMX exchanges will require EuroCCP to interoperate with other CCPs also clearing for these markets.

EuroCCP’s Nordics web page provides links to the company’s tiered, volume-based fee schedule and the fee calculator that enables firms to estimate monthly clearing costs under various volume scenarios.

On the web page, firms will find a list of EuroCCP’s multinational team members who can assist firms trading on NASDAQ OMX’s exchanges in Copenhagen, Helsinki and Stockholm to start using the clearing services of EuroCCP. The onboarding process has been designed to minimize the costs and operational changes for clients that need to start a new clearing relationship with EuroCCP.

For existing EuroCCP participants, their clearing relationship can be extended to the NASDAQ OMX platform quickly, with minimal documentation requirements and a fast-track process. @

To view the new web page, visit www.euroccp.co.uk/services/nordic.php.