NASDAQ OMX Nordic: Adjustment to Collateral Management Service fee schedule and EUR spread in NDR

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 used to cover margin requirement. 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, 2024 Frequency  
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> EUR 250 million       10 bps*       Monthly basis
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< EUR 250 million       12 bps*       Monthly basis
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*A concentration safekeeping fee of 3 bps for clearing members where cash
collateral constitutes less than 10% of the total collateral value used to
cover total margin requirement. 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 as
of January 2nd and fee changes reflected in the Collateral Safekeeping Fee
reports as of January 8th, 2024. 



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]