NASDAQ Nordic


NASDAQ Nordic is the name used to refer to all NASDAQ Inc. subsidiaries that provide financial services and operate in Nordic and Baltic countries securities marketplaces. With a market cap of $1.21, the operations of NASDAQ Nordic were previously known under the company`s name OMX AB (Aktiebolaget Optionsmäklarna/Helsinki Stocks Exchange) that was formed in 2003 after the merger between OM AB and HEX plc. In 2015, OMX AB was renamed NASDAQ AB but was also allowed to operate under the name NASDAQ OMX AB. The operations of NASDAQ OMX AB are still part of the operations under NASDAQ Inc. since 2008. NASDAQ Nordic operates two divisions that are autonomous in terms of operations and specialization. The first division is OMX Exchanges which operates a total of eight exchanges, mostly from the Baltic and Nordic nations. The other division; OMX Technology, develops systems and transaction procedures used by OMX Exchanges. The said systems are also developed for use by other stocks exchanges across the globe. In North America, OMX Technology`s most high profile customer is the Financial Industry Regulatory Authority (FINRA). Focus on technology has assisted NASDAQ Nordic in facilitating securities trade, derivatives clearing and risk management. Securities lending at NASDAQ Nordic is guided by the US/UK rules of engagement with regards to lending. In the UK, banks and brokers are at liberty to develop bilateral agreements with or without the presence other participants. In the US, there is an existence of counterparty like what the US Options Clearing Corporation’s (OCC) program relies on. Such systems however are not actively engaged in monitoring the lending activities. They are just there to assure the lender and the borrowers that their loans are fully guaranteed.