Settlement & Delivery for Swedish Products

Cash settlement

Cash settlement deriving from contract events in Swedish derivatives is settled through the Swedish central bank, Riksbanken, in which NASDAQ OMX Derivatives Markets is a direct participant. If you trade and clear Swedish options and forwards, you are required to hold arrangements with a custodian bank which is a member of Riksbanken. 

Currently, six Swedish banks participate directly in the derivatives settlement in Riksbanken: Svenska Handelsbanken, Swedbank, Skandinaviska Enskilda Banken, Danske Bank, DnB NOR and Nordea Bank.

Instructions for Swedish payments must be entered into Riksbanken’s system before the cut-off time at 11.30 am CET on the settlement day. Derivatives settlement in Riksbanken occurs at 11.45 am CET on the settlement day.
 

Delivery

Deliveries of Swedish underlying equities which result from the exercise and closing of Swedish stock options and Swedish stock forwards are settled through the Swedish CSD, VPC. If you trade in Swedish equity options and forwards you must either be a direct clearing participant in VPC or have a settlement bank with clearing member status at VPC. Participants trading in Swedish bond forwards must either be a direct clearing member in the PM-Clearing section of VPC or have a custodian bank with PM-Clearing member status at VPC.

Settlement of Swedish underlying equities or fixed-income instruments is executed in accordance with VPC rules: www.ncsd.eu/1966_ENG_ST.htm

Delivery of Swedish underlying equities takes place three days after exercise or assignment. Delivery of Swedish underlying fixed-income instruments takes place on the IMM day, four days after expiration of the bond forward. 
 

Settlement schedule

Swedish Products (SEK)
 

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