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Settlement & Delivery for Russian Products
Cash settlement
Cash settlement in USD resulting from premiums, fees, Mark to market and other cash settlement not related to deliveries, are settled through Derivatives Markets´ bank account with a settlement bank based in U.K. Members trading Russian products are required to have a settlement bank which can fulfill the members’ obligations with respect to the settlement in USD.
Paying members are required to deposit the cash settlement amount in NASDAQ OMX Derivatives Markets payments to immediately after 12.00 CET.
Delivery
Deliveries of Russian underlying depository receipts which result from the exercise of Russian stock options and Russian stock futures are settled through either Euroclear or DTCC. If you trade in Russian depository receipt derivatives you must either be a direct clearing member in Euroclear and DTCC or have a custodian bank with clearing member status at the CSDs. Settlement of Russian underlying depository receipts is executed in accordance with the applicable CSD rules.
Delivery of Russian underlying depository receipts takes place three days after exercise or assignment.
Settlement schedule
Russian Equity Products (USD)
Products | Stock Options | Stock Futures | RIBO Options | RIBO Futures | Premium | T+1 | | T+1 | | Trade Fee | T+1 | E+1 | T+1 | T+1 | Closing Fee | | | | T+1 | Excercise / Assignment Fee | E+1 | | E+1 | | Mark-to-Market | | Daily cash settlement | | Daily cash settlement | DVP / Expiration Settlement | DVP E+3 | DVP E+3 | Cash settled E+1 | Cash settled E+1 |
Abbreviations:
T = Trade date
E = Expiration date
DVP = Delivery versus Payment
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June 4th 2012 - New mandatory cash settlement structure for clearing members of NASDAQ OMX ClearingRead more »
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