Oslo Clearing

The clearing rules regarding the derivatives segment has been amended, as communicated earlier, and will come into effect, from and including December 1st.

Oslo Clearing has published its response to the recommendations for CCPs set out by ESCB-CESR. Please click here to see the response.

As of Monday  14 November  2011 Oslo Clearing will release a new version of the Clearing administration and reporting application (CLARA)

The new release include new and improved functionality related to:

• Settlement agent and External bic are added to the  Account menu
• Corporate actions - Improved search functionality
• Eligible quantity added to Clearing transactions and Clearing holdings menu
• Introduction of BIC-matching by VPS

There has been no requests for consultation to the amendments made to the rulebook submitted to Oslo Clearing within the 31 October. In accordance with our letter dated 24 October, the proposed rule changes will come into effect from (and including) December 1st.

As of Monday 5 September 2011 Oslo Clearing will release a new version of the Clearing administration and reporting application (CLARA)

The release includes new and improved functionality related to:

• New and improved reporting
• NCM declaration - transfer from one GCM to another
• Corporate action - dummy ISIN

Oslo Clearing test system

The following consultation is published by Oslo Børs

Oslo Clearing received no requests for consultation in connection with the proposed changes to the Clearing Rules. Thus Oslo Clearing has adopted to implement the proposed changes. As set out in the notice, the changes will enter into effect the 7th of July 2011. See below for final versions of Appendix 1, 2, 3, 5 and 7 as well as the general terms and corporate actions procedures applicable as from 7th July 2011.

Oslo Clearing is proposing amendments to the clearing rules Appendix 1, 2, 3, 5 and 7 as well as changes in the general terms and corporate actions procedures. The documents has been sent to all clearing members, NFMF and AFME, members may request consultation within June 9th. In the absence of any consultation, the changes will come into effect on the 7th of July.

Please see the notice of amendments for full overview of all changes.

We have been advised that there has been a disagreement between our rulebook and how the settlement discipline program actually works.