Nasdaq whacked with $36 million fine over Aas default

Swedish regulator’s fine poses serious questions over default management and margining, while providing few answers

Nasdaq

Nasdaq Clearing has been fined Skr300 million ($36 million) for failures related to its supervision and margining of a lone trader that blew up in the Nordic power markets in September 2018.

Swedish markets regulator Finansinspektionen issued a one-and-a-half-page notice of a warning and administrative fine for Nasdaq Clearing, dated January 26, but announced today (January 27), detailing its decision to censure the central counterparty (CCP) for failings in its handling of the 2018 default of

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