News archive

Oslo Børs VPS Holding has agreed to sell all its shares in the subsidiary Oslo Clearing to the SIX group, Switzerland’s financial market infrastructure group.

Oslo Clearing is proposing amendments to the Clearing Rules Regulation 1.1, 5.3 and 6.3 as well as Clearing Rules general terms. The documents has been sent to all clearing members and interested parties. Clearing members may request consultation within December 7th. In the absence of any consultation, the changes will come into effect on the 30th of December 2012.

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

Oslo Clearing invites all members and intersted parties to an information meeting on the 12 December 2012 14:30 (CET). For registration, please send your name and e-mail to Ingvild.bjonness@osloclearing.no. 

Oslo Clearing has decided to amend its Buy-In procedures partly  to reflect the requirements set out in the EU short Selling Regulation (SSR), as from the 1 November 2012. Oslo Clearing will until further notice maintain the member Buy-In process, however Buy-In requests may now be submitted from ISD+4. Oslo Clearing has further made  amendments to the fail charges levels in order to adapt to the SSR.

Read more about the Buy-In procedures in our newsletter. Amendments have been made to Regulations 1.3, 51. and 6.2.

The Service Description for Equities, Derivatives and Loans is updated to reflect the new improved clearing services with the MagiCa project.

The Service Description is intended to provide the clearing members with an overview of the clearing services provided by Oslo Clearing ASA.

The description shall be used for explanatory purposes only and is not a legal document.

The MagiCa project uses the Midas Margin Model when calculating margins. The margin model is developed by Oslo Clearing and will replace the methodologies that currently are in use, both in the derivative segment and in the equity segment.

The Margin Methodology document is a detailed document which accounts for the methods and assumptions that are used in the Midas Margin model.

The project MagiCa establishes a common clearing and margin model for all of Oslo Clearing product segments. The current two rulebooks have been merged to one common rulebook and shall be effective from 21 September 2012 or on such later date as Oslo Clearing may decide.

The  final version and a mark-up version relative to the draft rules published on 2 May 2012 are available on this page. Please note that the Buy-In procedures of Oslo Clearing, in Regulation 6.2, remain unchanged, pending on an amended version that incorporates the requirement of compulsory automatic triggers, in accordance with art. 15 Regulation (EU) No 236/2012 on short selling and certain aspects of credit default swaps.

Rulebook

Nå er programmet klart for årets viktigste konferanse for deg som arbeider med spørsmål rundt din virksomhets Back-Office.

Konferansen Nordic Back Office 2012 gir deg en oppdatering på det internasjonale og det nordiske Back Office landskapet, samt gir deg konkrete verktøy og tips til hvordan din virksomhet skal forholde seg til endringene.

Based on feedback from customers, we have decided to make one amendment to the fee model implemented from 1st of May.

From the 1st of July we are implementing a maximum membership fee for GCM's.

The maximum is set to 80,000 NOK per month, and consist of the monthly membership fee and the NCM fee

Please find the new fee schedule which we will add to rulebook from the 1st of July. Amendments are marked red.

Oslo Clearing's new rulebook was sent out on a hearing to Oslo Clearings legal reference group, the 2nd of May, with four weeks to comment on the new rulebook. All members of the legal reference group agreed with the comments made by the Norwegian Securities Dealers Associations ("NFMF").

Please find attached NFMF's comments on Oslo Clearing's new rulebook in addition to Oslo Clearing's response to NFMFs comments.

If there are any questions regarding this, please reply to en@osloclearing.no

Oslo Clearing has, as a part of the Magica-project, been working towards merging our two existing rulebooks into one. A consultation version of the merged rulebook is ready, and will be subject to discussion by our legal reference group on Monday, May 7th.   

The consultation versions of the merged rulebook can bee found here.