Exchange operator NASDAQ OMXs clearinghouse is now offering rebates to those clients who do business there.
According to Reuters, the Nordic clearinghouse will offer two new fee structures for large volume clients in fixed income products denominated in Swedish crowns. Rebates will become available from Jan 1, 2015. Meanwhile, the clearinghouse will offer free registration of some older interest-rate swap contracts.
The bourse has also expanded the list of assets that can be used as collateral at its Nordic clearing house after the business was authorized under new European Union rules.
The changes signal an attempt to challenge LCH.Clearnet, the clearing house majority-owned by the London Stock Exchange which is the leading clearing house for interest rate swaps but has yet to be authorized by the EU.
NASDAQ OMX was the first U.S. exchange operator to receive approval for its Stockholm-based clearing house to operate under new European Union trading rules that regulate derivatives trading.
