Settlement & Delivery in Finnish & Baltic Products

Cash settlement

Cash settlement deriving from contract events in Finnish and Baltic derivatives is settled through NASDAQ OMX Derivatives Markets’ bank account in Finland. If you handle Euro denominated derivatives you must have a Finnish bank account with a local bank in Finland.

All payments to NASDAQ OMX Derivatives Markets must be entered into a NASDAQ OMX Derivatives Markets account before the cut-off time for Euro payments at 11am CET on the settlement day.
 

Physical delivery

Deliveries of underlying equities listed in Euro which results from the exercise of Finnish stock options and Finnish stock forwards are settled through the Finnish CSD, APK. If you trade in Finnish equity options and forwards you must either be a direct clearing member in APK or have a custodian bank with clearing member status at APK. Settlement of Finnish underlying equities is executed in accordance with APK rules: www.ncsd.eu/1967_ENG_ST.htm

Delivery of Finnish underlying equities takes place three days after exercise or assignment. To secure delivery in the underlying equity NASDAQ OMX Derivatives Markets holds margins during the delivery period.
 

Settlement schedule

Finnish Products (EUR)

Abbreviations:
T = Trade date
E = Expiration date
DVP = Delivery versus Payment