nasdaqomx

Derivatives Membership on Nasdaq Nordic

How to Become a Member

All participation on the Nasdaq Derivatives Markets is performed through its members. Next follows a step-by-step description on how to obtain a membership at Nasdaq Derivatives Markets.

 

 Choose membership type

General Clearing Member (GCM)

Entitled to participate in the clearing activities of the clearing house

  • On its own behalf
  • On behalf of customers including non-clearing members (NCM)

Non-Clearing Member (NCM) 

Trading member who clears trades via a General Clearing Member

Direct Clearing Member (DCM)

Entitled to participate in the clearing activities at the exchange

  • On it’s own behalf
  • On behalf of customers excluding non-clearing members (NCM)

Direct Clearing Client (DCC)

Entitled to participate in the clearing activities of the clearing house

  • On its own behalf


 Send in membership application including appendices

Fill in the below Membership application form and send in together with appendices:

- For GCM, DCM and NCM please fill in Membership application - Nasdaq Nordic

- For DCC Direct Clearing Client Application Form

- The applicant must provide documentation in English, Swedish, Norwegian or Danish languages.

Please attach the following appendices to the application:

  • Annual report for the previous year (if possible) and the last interim report
  • Articles of Association
  • Copy of relevant authorizations to provide investment services from local FSA
  • Copy of the company’s Certificate of Incorporation (max 2 months old)
  • Documentation evidencing due authorization of the signing person(s) to sign on behalf of the relevant legal entity
  • A list of signatories with signature samples of the signing person(s) and/or copies of official ID of the signing person(s) (passport, national ID etc.)
  • Risk Management questionnaire (DCM & GCM)
  • Description of the ownership structure (if part of a group of companies)

 

 Member testing of the Genium INET Trading and Clearing system

Make sure you discuss your market access setup and account structure with your Nasdaq membership coordinator. The structure can then be verified in a test environment before go live.

Information about Genium INET testing »

 

 Connectivity and Software

For conformance test of software used towards Nasdaq, please contact Technical Support with team to arrange testing.

Information about Connectivity & Access »

 

 Education and authorization of traders and back-office personnel

Each trading member is required to have a minimum of two authorized traders registered for Genium INET Trading.

Please visit the Nasdaq Academy page for further information about authorization and self-study materials.

Nasdaq Academy »

 

 Member agreements and forms to be completed

Fill in, sign and send documentation to Nasdaq

  • Originals should be delivered to:

Nasdaq Vilnius
Att: Memberships
Business center K29
Konstitucijos avenue 29
LT-08105 Vilnius
Lithuania

#

Agreement/Form (linked)

Mandatory?

Required shape

Required signature

Purpose

1

Exchange Member Agreement

for exchange members

Two (2) originals

Authorized signatory

Two party agreement between applicant and Nasdaq Stockholm AB (the Exchange)

2

Clearing Member Agreement

for GCM or DCM

Two (2) originals

Authorized signatory

Two party agreement between applicant and Nasdaq Clearing AB (the Clearing House)

3

Clearing Agreement

for NCM

Original with GCM,  scanned copy to Nasdaq

Authorized signatory

Two party clearing agreement between NCM and GCM

4

Direct Clearing Client Agreement

for DCC

Three (3) originals

Authorized signatory

Two party agreement between applicant, GCM/DCM and Nasdaq Clearing AB

5

Entry form

Yes

Signed and scanned copy

 

Form to specify and request market access

6

License agreement: Genium INET Clearing Workstation

CW1 or CW2

for GCM, DCM and DCC

Two (2) originals

Authorized signatory

License agreement for the Genium INET Clearing Workstation software

7

License agreement: Genium INET Trading Workstation

 

Two (2) originals

Authorized signatory

License agreement for the Genium INET Trading Workstation software

8

License Agreement: OMnet

Yes

Two (2) originals

Authorized signatory

Agreement to access Nasdaq OMnet API

9

Direct Market Access (DMA) Agreement

 

Two (2) originals

Authorized signatory

Agreement to access Nasdaq DMA service

10

Access agreement - TradeGuard

 

Signed and scanned copy

Authorized signatory

Agreement to access Nasdaq TradeGuard service

 

System Access

11

Exchange trader application

for exchange members

Signed and scanned copy

 

Registration form for authorized traders (minimum 2). Received when authorization is completed.

12

Trading Access Form (Request for Access)

 

Signed and scanned copy

 

Request for Trading Workstation GUI user

13

Clearing Access Form (Request for Access)

for GCM, DCM and DCC

Signed and scanned copy

 

Request for Clearing Workstation GUI user (CW1 or CW2)

14

CMS Web Access form (Request for Access)

for GCM, DCM and DCC

Signed and scanned copy

 

Request for Collateral Management Web GUI admin user

15

Third party access - CMS Web 

 

Signed and scanned copy

 

Applicable if CR will handle CMS for CC

16

Request for access - FIX/FIX Drop

 

Signed and scanned copy

 

Request for FIX ports

17

Request for access - ITCH

 

Signed and scanned copy

 

Request for ITCH feed

18

Request for access - TradeGuard

 

Signed and scanned copy

 

Request for TradeGuard

19

Member Portal Administrator Appointment Form

for GCM, CM, CR, NCM and BBM

Signed and scanned copy

Authorized signatory

Form to appoint Administrator(s) in accordance with the provisions of the General Terms of Nasdaq Member Portal.

 

Collateral and Default Fund 

20

Default Fund Custody Account Agreement

for GCM, DCM and DCC

Two (2) originals

Authorized signatory

For the custody account holding member’s posted default fund contribution

21

Collateral Custody Account Agreement

for GCM, DCM and DCC

Two (2) originals per custody account

Authorized signatory

For the custody account holding member’s posted collateral

22

Collateral SSI form

for GCM, DCM and DCC

Signed and scanned copy

 

For call back of posted collateral. Same for Collateral and Default Fund, or separate

23

Member Preferences (CMS) 

for GCM, DCM and DCC

Electronic copy

 

Form to provide member’s preferences regarding base currency, currency for fees and report subscription

 

Settlement 

24

Cash Settlement – Power of Attorney 

for GCM, DCM and DCC

Original to bank, electronic copy to Nasdaq

Authorized signatory and Settlement Bank

Agreement with Settlement Bank to debit/credit daily settlement. Must be approved by Settlement Bank

25

SSI for Securities

for GCM, DCM and DCC

Signed and scanned copy

 

Delivery instructions for physical deliveries

 

For commodities products only 

26

Registry account notification form for carbon contracts EUA

for GCM, DCM and DCC

Electronic copy

 

Delivery instructions for EUA deliveries

27

Registry account notification form for El Cert contracts

for GCM, DCM and DCC

Electronic copy

 

Delivery instructions for El Cert deliveries

 

 Get confirmation and start trading and clearing at Nasdaq!

Trading and clearing can start when all agreements and forms have been approved by Nasdaq, technical access has been established and a start date has been agreed. 
 

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