As of 20 February, following finalising of regulatory and operational arrangements Nasdaq Nordic will confirm SIX x-clear as a third interoperating central securities depository.
The new clearing services will apply to trades executed in Nasdaq Nordic trading markets: Copenhagen, Helsinki, Stockholm and First North Sweden, which is operated by Nasdaq Stockholm. Settlement will take place in the home market of the securities.
SIX x-clear will allow for one net settlement for all trades across all of these platforms. Cross-platform netting and cross-margining of risk, plus a tiered pricing structure, are intended to provide tailored solutions for clients, based on individual needs in terms of scale, cost, risk and liquidity.
Valerio Roncone, head of markets and clients at SIX Securities Services, said: “We are delighted to be able to provide comprehensive clearing services in the Nordic region. This is an important step which offers clients an opportunity to extend their clearing consolidation with SIX x-clear and further optimise their post trade processing.”