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Membership Categories

Exchange Member

An Exchange Member means an entity that has entered into an Exchange Membership Agreement with Nasdaq Oslo ASA. An Exchange Membership requires a Clearing Membership or a Clearing Account with a General Clearing Member (GCM). The member is granted direct access to exchange trading electronically and/or voice.

Non-Clearing Member

A Non-Clearing Member (NCM) is an Exchange Member that has entered into a Non-Clearing Membership Agreement with Nasdaq Oslo ASA. A Non-Clearing Membership requires a Clearing Account with a General Clearing Member (GCM). The member is granted direct access to exchange trading electronically and/or voice.

General Clearing Member

A General Clearing Member (GCM) is an entity that has been approved by the clearing house for clearing of principal transactions and client transactions on behalf of GCM clients e.g. Non-Clearing Members.

Read more about the GCM Model »

 

Clearing Member

A Clearing Member (CM) is an entity that has been approved by the clearing house for clearing of principal transactions.

Client Representative

A Client Representative (CR) represents Clearing Clients in respect of trading.

Clearing Client

A Clearing Client (CC) means an entity that has been approved by the clearing house to have transactions subject to clearing through a Client Representative, for registration in a Clearing Account where the Clearing Client is account holder. A Clearing Client is not a member of the exchange, but trades through a Client Representative. The Clearing Client gets its own settlement and post collateral by itself.


Block Broker Member

A Block Broker Member means an entity that has entered into a Block Broker Membership Agreement with Nasdaq Oslo ASA. A Block Broker is an approved Exchange Member authorized to report block trades and EFP/EFS trades to the exchange.

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