A remote broker of the Danish, Finnish or Swedish stock exchange can, in practice, be both a trading member of the stock exchange and a clearing member of the local central securities depository (CSD). The duties of the clearing member can also be transferred to a local agent. All remote members of the Oslo Stock Exchange require a local clearing agent according to Norwegian regulations.
Acting as a local representative of the remote member, we undertake to bear the responsibility of clearing the remote broker's trades in the local CSD as well as the processing of trade-related payments. The reporting related to the trades is processed mainly by SWIFT. Upon agreement also e-Custody, file transfer of fax can be used.
Nordea is committed to this growing business and we are continuously developing the flexibility of our systems and procedures to be able to meet the individual needs of each client.