The clearing co-operation agreement with LCH.Clearnet is part of a strategic partnership between Oslo Børs and London Stock Exchange Group regarding linked trading and clearing of derivatives products.
The new standard terms will be valid from 30 November 2009
Oslo Clearing ASA wants to adjust its member structure to the international standard for clearing on behalf of clients. Clearing Members can be approved as General Clearing Members (GCM) and carry out clearing of GCM Client trading as an alternative to the current structure where Clearing Members approved as Clearing Representative can carry out clearing for End-client trading.
Oslo Clearing has been appointed as central counterparty (CCP) and the service description is now available.
Changes in the standard terms and appendixes for Oslo Clearing ASA
A new version of standard terms for Oslo Clearing ASA will take effect from 29th May 2009. Current version of the existing rules and regulations can be found here
Effective from 29 May 2009, Oslo Clearing is reducing the fees for Tailor made derivatives. The changes are results of meetings with the members and
imply that we discontinue the current quarterly rebate program for our members, and replace it by reducing the fees for the investors. The
reduction of the fees is carried out through increasing the volume rebate for Tailor made forwards, particularly for high volume deals. For options, we
introduce a new fee structure with a volume rebate related to the number of contracts per deal.
Oslo Børs VPS to introduce central counterparty (CCP) clearing for equities trading in the Norwegian market
The Board of Directors of Oslo Børs VPS Holding decided at its meeting on 25 February 2009 to introduce central counterparty (CCP) clearing for trades in equities, equity certificates and ETFs on Oslo Børs, and for trades in equities on Oslo Axess. The service will be provided by Oslo Clearing ASA, which currently offers a CCP service for clearing derivatives trading on Oslo Børs. Oslo Børs VPS plans to launch the new service in the first quarter of 2010.
Press release January 26, 2009
Oslo Clearing ASA has announced a strategic initiative called "Oslo Derivatives Tailor Made" to improve the execution and processing of over the counter (OTC) derivatives.
Oslo Clearing has entered into an agreement with Baymarkets for licensing the Edge platform. Edge will enable traders to negotiate customized OTC derivatives directly with one another with the dual benefits of automatic Straight Through Processing (STP) and services offered within the secure network of the clearing house.
New pool interest rates
Oslo Clearing have reviewed the pool interest rates. The new pool interest rates will apply from 2. January 2009. New interest rates and classes are described in the attachment below.
Kaupthing and Landsbanki
The Clearing Member Agreement of Kaupthing Hf. NUF and Landsbanki Norway NUF was terminated following their suspension in October 2008. DnB NOR was appointed as provisional Clearing representative for all End-Clients of Kaupthing and Landsbanki. The proprietary trading accounts of Kaupthing have been liquidated without any loss for Oslo Clearing. Landsbanki did not hold a proprietary trading account with Oslo Clearing.