Oslo Clearing

[Rune Eriksen]

Oslo Bors will introduce CCP clearing through Oslo Clearing on June 4th, with full launch June 18th, what are your thoughts on this? and what are your main concerns?

[ulfnoren]

Positive that Norway follows through and introduces CCP. I would though rather have seen one of the established CCP's taking on the mission. Europe's CCP scene needs consolidation, not further fragmentation.Concerns are mainly three: 1) The business model is not as transparent as a user owned-user governed model would have been.2) Timing: It is happening in the start of the Norwegian holiday season and both the market and the new CCP are inexperienced in the field of clearing. 3) Initial analysis gives at hand that many compenents are more expensive with this CCP.

[Rune Eriksen]

Thanks, soft launch of the CCP today, exciting!

[Camilla Wahl Sekne]

First settlement day today, looks like a success.

[Charlotte Freij]

Input from Clients today is that all runs smooth. We keep our fingers crossed for the same in the full launch!

[ulfnoren]

Following the member feedback session yesterday, Oslo Clearing will take a decision today (June 15) on further steps. We believe that ETF's and OBX index shs will be launched as planned 18JUN while remaining instruments follow through in August. Let's see if this corresponds with decision later today.

[Rune Eriksen]

On 27 August it's time for the third (and last) step in the launch plan for CCP clearing of securities traded in
the Norwegian market. Step 1 and 2 went very well, or does anybody have another opinion?