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

International Monetary Fund

No 2011/284, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; default procedure; clearing activity; Clearing risk committee; financial market; NOMX DM's member; NOMX STO; liquidity risk; end customer; agent customer clearing model; clearing member; situations NOMX DM; Collateral; Central counterparty clearing house; Small taxpayer office; Legal support in revenue administration; Global (search for similar items in EconPapers)
Pages: 50
Date: 2011-09-16
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