Euroclear Offers ETF Settlement and Custody in Sweden and Finland

Euroclear’s CSDs in Sweden and Finland now offer settlement and custody for actively-managed exchange traded funds (ETFs), which coincides with Nordea launching the region’s first of these vehicles.

Nordea will launch one actively-managed ETF on NASDAQ OMX Stockholm another on NASDAQ OMX Helsinki. Shares of these ETFs will settle in either kronor at Euroclear Sweden or in euros at Euroclear Finland, depending on where the trade takes place.

“Euroclear Finland and Euroclear Sweden’s electronic book-entry systems are the most secure and modern way for investors to manage their investments. We are delighted to add Nordea’s two innovative ETFs to the many types of domestic securities we service,” says Heikki Ylipekkala, head of commercial at Euroclear Finland and Euroclear Sweden.

“The number of actively-managed funds is expected to rise, particularly as we experience a growing demand for equity-like products,” says Jari Kivihuhta, managing director of Nordea Investment Funds. “Our mutual funds have been successful during the last few years. We feel very comfortable to launch a new kind of actively managed ETF with Euroclear, and to benefit from their years of fund processing experience.”