Sweden: Financial Sector Assessment Program Update-Detailed Assessment of Observance on NASDAQ OMX DM Observance of the CPSS-IOSCO Recommendations for Central Counterparties

September 16, 2011

Summary

This paper is a detailed assessment of NOMX DM, undertaken in the context of the IMF Financial Sector Assessment Program (FSAP) Update for Sweden in 2011. NOMX DM, the only Central Counter-parties (CCP) in Sweden, has provided clearing services for equity, fixed income derivatives, and repo transactions since 2010. Even though NOMX DM has a comprehensive risk management framework, relevant points were brought up in the assessment related to governance and risk management. Swedish authorities have taken necessary measures to improve the system.

Subject: Banking, Central counterparty clearing house, Collateral, Financial institutions, Financial instruments, Financial markets, Legal support in revenue administration, Revenue administration, Small taxpayer office

Keywords: agent customer clearing model, Central counterparty clearing house, clearing activity, clearing member, Clearing risk committee, Collateral, CR, default procedure, end customer, financial market, Global, ISCR, Legal support in revenue administration, liquidity risk, NOMX DM's member, NOMX STO, situations NOMX DM, Small taxpayer office

Pages:
50
Volume:
2011
DOI:
https://doi.org/10.5089/9781463903558.002
Issue:
284
Series:
Country Report No. 2011/284
Stock No:
1SWEEA2011007
ISBN:
9781463903558
ISSN:
1934-7685

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