NASDAQ OMX Nordic: Adjustment to Collateral Management Service fee schedule 06/23

Changes to safekeeping fees for financial clearing members

As today, Nasdaq applies a security collateral fee for securities calculated in
basis points annualized on market value. The fee level depends on the
proportion of cash and securities on the custody account and the total market
value of the securities collateral that is used to cover the total margin
requirement. Actual fee levels can be found in the table below. The fee is
charged on a monthly basis by aggregation of the daily fee calculation based on
end of day security market value on the custody account, excluding any excess
collateral. The fee is calculated using actual/360-day convention. On a daily
basis, the total collateral market value is calculated per holding on the
Custody Account in the collateral denominated currency. The amounts are then
converted to EUR using the exchange rates for that day. 

Effective January 1st, 2024, Nasdaq Clearing will make changes according to the
description below. 

New Tiered Model

Tier        New fee as of January 1st, 2023 Frequency  
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> EUR 250 million        10 bp*       Monthly basis
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< EUR 250 million        12 bp*       Monthly basis
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* A concentration safekeeping fee for clearing members with a cash to
securities ratio below 10%. 0 concentration safekeeping fee and 0 bp fee for
securities held by clients active in IRS OTC clearing. 

The fee list will be updated on the collateral management fee list webpage.

Adjustment to Nasdaq Deposit Rate (NDR) for margin cash collateral
contributions in EUR 

Effective January 1st, 2024, Nasdaq Clearing will change the spread in the NDR
from 20bp to 22.5bp. The new NDR rate for margin cash collateral in EUR will be
€STR -22.5 bp. 

Current rates can be found on the Nasdaq CMS Web.



For further information, please contact

Clearing & Collateral Management team

Email: [e-mail]

Phone [phone]