Update regarding implementation of BIC on client level as a mandatory matching criteria in the Norwegian market

Further to our e-news from 27 June last year, the NMPG (Norwegian Market Practice Group) has been working together with the VPS for the implementation of BIC codes on client level as mandatory matching criteria in the Norwegian market.

A mandatory market wide test was completed by most parties in November 2011 and the rest will complete the testing in January 2012. Production date is set at 29 February, 2012.

We are expecting a positive impact on the settlement rate in the Norwegian market due to this change.

New matching criteria:

- Trade date
- Settlement date
- ISIN
- Number of shares (or nominal amount when applicable)
- REAG/DEAG (BIC)
- BUYR/SELL (BIC)
- Settlement amount (n/a for fop transactions)