Nasdaq Commodities welcomes Raiffeisenbank a.s. as a new General Clearing Member (GCM).
As of March 1, 2017, Raiffeisenbank is entitled to clear European Energy (EUR), Nordic Power (EUR) and Seafood (NOK) contracts and is the first Czech bank to sign up as a GCM at Nasdaq Commodities
Barbara Tutass, Head of Large Corporates at Raiffeisenbank a.s., said:
“This membership is an important step in the ongoing development of Raiffeisenbank’s execution and clearing services in Europe. Being a GCM at Nasdaq gives us a unique competitive advantage as clients can access Nasdaq Clearing through us. For customers, this means individual approach on clearing, reasonable risk requirements, minimal administration and a better overview with invoicing and smooth settlement.”
Knut Rabbe, Head of Client Relations and Sales at Nasdaq Commodities said:
“As we continue to develop our presence in Europe, we are very pleased to expand our list of GCMs. Raiffeisenbank’s commitment will give further participants access to our clearing portfolio. We look forward to working together with Raiffeisenbank to bring additional liquidity at a time of exciting development for Nasdaq in the commodities space.”
For further information, please contact Nasdaq Commodities: Peter Böhmwalder, Sales Director Europe, phone +43 6642637197, peter.boehmwalder@nasdaq.com
Media contact: Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com
About Raiffeisenbank a.s. Raiffeisenbank a.s. is an important banking institution that provides wide range of banking services to private and corporate clientele in the Czech Republic. According to total assets over CZK 300 billion, the bank is 5th largest in the market. Raiffeisenbank serves clients at more than 120 branches and business client centres throughout Czech Republic. The bank also provides services of specialized mortgage centres, personal, corporate and business advisors. The majority shareholder of Raiffeisenbank with 75 per cent of the shares is Austrian financial institution, Raiffeisen Bank International AG (RBI), which parent company is Raiffeisen Zentralbank Österreich AG (RZB). Additional shareholder is RB Prag-Beteiligungs GmbH with 25 per cent. RBI originated from the merger of the spun-off areas of RZB with Raiffeisen International Bank-Holding AG. The transaction was legally completed in October 2010. The RBI Group´s consistent commitment to quality is regularly reflected by a broad range of local and international awards, including by such leading finance industry publications as "The Banker", "Euromoney" and "Global Finance".
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 3,600 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 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 Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing Nasdaq Clearing is the trade name of Nasdaq 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
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither The Nasdaq Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
