NASDAQ to Separate Clearing and Exchange Related Operations in Sweden

On September 3, NASDAQ will separate its clearing and exchange related operations in Sweden in compliance with European Market Infrastructure Regulation (EMIR).

All exchange related operations will fall under a new entity NASDAQ OMX Stockholm AB with Magnus Billing become president of this exchange related entity. The current clearinghouse operations will stay in place but be renamed as NASDAQ OMX Clearing AB.

When the division takes place, Johan Rudén will assume the role of president of NASDAQ OMX Clearing AB, and Fredrik Ekström will become chief risk officer. The clearing entity will also form a member risk committee during the fall of 2013.

Additionally, NASDAQ submitted an application for a renewed clearing license under EMIR regulation, which has been submitted to the Swedish Financial Supervisory Authority. Final approval for the license should come by the end of 2013.