Starting Nov 18, 2019 Nasdaq Clearing will follow the Swedish market practice and implement Partial Settlement for exercise and expiration instructions that settles through Euroclear Sweden's AM submarket. That means that participants cannot use "NPAR" for these flows when matching instructions against Nasdaq Clearing once partial settlement is implemented. However, please note that Collateral instructions toward the AM submarket will be sent with NPAR. To facilitate and ensure that the market is ready for Partial Settlement for Euroclear Sweden Nasdaq will offer a test period as outlined below. Testing will be scenario based, please see the attached test plan for further information. Partial Settlement for the PM submarket will use current functionality with manual cancellation and manual split but will also be included as a test scenario. Please note that Nasdaq Clearing expects all counterparties to be able to handle partial settlement both for AM and PM market as outlined above in accordance with the Swedish market practice as of Nov 18, 2019. Test availability 2/9-13/9 2019 Members that would like to test Partial Settlement (AM/PM or both) with Nasdaq Clearing prior to go live will have the possibility between Sep 2nd and Sep 13th 2019. In order to participate in the testing members need to report to Nasdaq Clearing of its intention to test Partial Settlement with Nasdaq Clearing by sending an email to clearing.test@nasdaq.com. Please respond prior to August 19th if you would like to participate in testing. Genium INET External Test System 4 will be connected to Euroclear Sweden's ARIX test system where testing of Partial Settlement will be performed. Connectivity details to Nasdaq's system (Genium INET External Test System 4) can be found through the link: https://business.nasdaq.com/media/Genium-INET-Connectivity-Information-1.5_tcm50 44-58095.pdf Nasdaq encourage all members to participate in these tests, If you like to participate in the tests or have any questions please contact Nasdaq Clearing to receive further information: clearing.test@nasdaq.com. Attachment: https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=728437
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