Settlement & Delivery

Cash settlement

The procedure for cash settlement must adhere to local requirements specific to each of the countries in which the currency is settled. This applies to choice of settlement bank and cut off times.

All cash settlements are netted at each clearing member’s level in order to minimize the number of payments. The payment transactions, listed by settlement day, are found under Reports in the Genium INET Clearing Workstation.
 

Delivery

Delivery of underlying instruments is settled either with you directly if you are a clearing member, or via your settlement bank with clearing member status in the central security depository specified to the specific market of trading.

All security transactions are calculated per account but are netted down to a minimum at the clearing member’s level. The equity delivery reports are found under Reports in the Clearing Workstation.

To secure delivery of the underlying equity or bond, NASDAQ OMX Derivatives Markets maintains margins during the delivery period.
 

Summary

• As a result of counterparty obligations, all cash settlements and deliveries transactions are executed via NASDAQ OMX Derivatives Markets.
   
• Cash settlements must go through a custodian bank which meets the necessary requirements spelled out per product in each respective currency/market.
   
• Cut off deadlines for settlement differs country to country. See specific countries procedural listing.
   
• All cash settlements are netted at clearing members’ levels.
   
• Payment figures are listed by a specific settlement day’s transactions in Reports in the Clearing Workstation.
   
• Deliveries of underlying instruments go via the specified central securities depository for that market. You must arrange to have clearing status directly or via a settlement bank.
   
• Delivery dates are specific to the market.
   
• A list of settlement and delivery reports on an account and aggregated level are available in Clearing Workstation.

All of our clearing members’ cash settlements and deliveries related to derivative instruments are carried out via NASDAQ OMX Derivatives Markets. The procedures specific to each of these regions are detailed by market and respective currency:
 

Danish Products
Finnish & Baltic Products
Norwegian Products
Russian Products
Swedish Products