Nasdaq Clearing Hits SEK 1 Trillion In Open Interest For Interest Rates Swaps

Nasdaq (Nasdaq: NDAQ) Clearing today announced a new all-time high for its clearing of Interest Rate Swaps when open interest in SEK denominated swaps reached SEK 1 trillion.

“Developing and sustaining a strong and resilient Nordic financial market is in the foundation of Nasdaq’s European business,” says Fredrik Ekström, Head of Nordic Fixed Income. “We are starting to see the effects of the European clearing obligation, and we are working in close cooperation with our members and clients to keep developing our services in a new regulatory landscape. Reaching this milestone is a strong indication that we are being successful.”

Since the clearing obligation under Article 4 of EMIR was implemented on June 16 2016, OTC derivative contracts that are subject to mandatory clearing must be cleared in an EMIR authorized CCP, such as Nasdaq Clearing.

“As a customer-owned occupational pension provider, we share a responsibility for 2 million individuals future pension,” says Michael Kjeller, Chief Investment Officer at Folksam. “Financial stability is important, and Nasdaq enables us to work with a local CCP that provides us with transparency and a strong protection against potential counterparty defaults.”