This is to inform you about an amendment to the Clearing Rules of Nasdaq Commodities, Appendix 10 - Collateral List, effective on April 16, 2015.
The following changes will be made:
- Value after haircut for the following equities:
- ELUX B, 64%
- SKF B, 71%
- Value after haircut for government bills and bonds, Kommuninvest Bonds and World Bank Green Bonds:
- Time to maturity 10-20 years, 87%
- Time to maturity 20-30 years, 80%
- The minimum rating criteria for government bills and bonds and World Bank Green Bonds are changed from AA+ and/or Aa1 to AA- and/or Aa3. Due to this change, French government bills and bonds will be eligible as collateral.
- Point D under General conditions has been changed to:
D) For Individual Client Segregated Accounts, the Clearing House does not allow collateral issued by the Clearing Member holding the Individual Client Segregated Account or by a company within the same group as such Clearing Member.
The changes for government bills and bonds will also be reflected in Appendix 5 of the Default Fund Policy paper, Eligible Funds. The document can be found here and will be updated in due time.
For further information please see Commodities rulebook under upcoming changes to rules here .
For further information, please contact Nasdaq Commodities:
Ulrika Christensen, Head of Credit Risk, phone +46 8405 6778/+46 73449 6778, ulrika.christensen@nasdaq.com
Media contact:
Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com .
About Nasdaq Commodities
Nasdaq Commodities is the brand name for the worldwide suite of commodity related products and services offered by Nasdaq. The Nasdaq Commodities offerings include power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services.
NASDAQ OMX Oslo ASA is the commodity derivatives exchange authorized by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing
Nasdaq Clearing is the trade name of NASDAQ OMX Clearing AB which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
For more information, visit www.nasdaqomx.com/commodities
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