IT – INET Nordic – Member activities relating to Nasdaq Nordic introducing LCH on the Nordic cash equity markets - (57/15)
As informed earlier in IT Notice 55/15, Nasdaq Nordic intends to provide a choice of CCP clearers in Nordic cash equities for its members on the Nasdaq exchanges in Stockholm, Helsinki and Copenhagen.
As a first step, Nasdaq Nordic will introduce LCH.Clearnet Ltd (LCH) as additional cash equity CCP provider.
This IT Notice contains information for members who wish to change their CCP set-up. Information in this IT Notice does not affect members who do not wish to change their current CCP set-up.
1) Testing of new CCP set-up
Testing in INET OTF is performed at members’ discretion, but is recommended for members who choose to migrate to LCH or add LCH to their existing set-up. Testing is available from October 26, 2015.
Members who wish to test in INET OTF are asked to contact Cash Equity Operations, operator@nasdaq.com tel +46 8 405 6410 for setting up the member’s test MPID before testing. In addition, in case the member needs LCH’s support in testing, it must contact LCH through its participation at LCH (Direct Clearing Member/General Clearing Member) or through its General Clearing Member, in order to agree testing practicalities.
The symbol “LCH” is assigned to LCH in all Nasdaq Nordic protocols, both in INET OTF and INET production environments. Symbol “LCH” is relayed as counterparty in trade execution messages.
2) Member’s actions in connection to introduction of LCH
Planned introduction of LCH in INET Nordic production is November 23, 2015. This is the first day when trades executed on Nasdaq Nordic can be routed to LCH.
Members who wish to change the CCP set-up during the first week of the introduction of LCH - in the period from November 23 to November 27, 2015 - are requested to notify Nasdaq Nordic by November 6, 2015, via Key Account Managers or by contacting Cash Equity Operations, operator@nasdaq.com tel +46 8 405 6410.
Necessary Nasdaq Nordic documentation for the change can be obtained from Key Account Managers or Cash Equity Operations.
Adding LCH as CCP provider is subject to regulatory approvals or consent in the jurisdictions affected and for the parties involved, including the necessary regulatory consent or approvals from the regulators of Nasdaq Nordic exchanges.
Questions and feedback:
If you have any questions regarding this Exchange Notice, please contact Cash Equity Operations at:
+46 8 405 6410, operator@nasdaq.com.
Best regards,
Nasdaq Nordic
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn and Nasdaq Vilnius are respectively brand names for NASDAQ OMX Copenhagen A/S, NASDAQ OMX Helsinki Ltd, NASDAQ OMX Iceland hf., NASDAQ OMX Riga AS, NASDAQ OMX Stockholm AB, NASDAQ OMX Tallinn AS and AB NASDAQ OMX Vilnius. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm.
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