FUTOP Clearing Center A/S, is the screen-traded,

Danish Danish may refer to: * Something of, from, or related to the country of Denmark People * A national or citizen of Denmark, also called a "Dane," see Demographics of Denmark * Culture of Denmark * Danish people or Danes, people with a Danish a ...

derivatives market that merged with the

Copenhagen Stock Exchange The Nasdaq Copenhagen, formerly known as the Copenhagen Stock Exchange ( da, Københavns Fondsbørs), is an international marketplace for Danish securities, including shares, bonds, treasury bills and notes, and financial futures and options. ...

in 1997, becoming a wholly owned

subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...

of the exchange. In 2003 CSE merged with the

OMX Nasdaq Nordic is the common name for the subsidiaries of Nasdaq, Inc. that provide financial services and operate marketplaces for securities in the Nordic and Baltic regions of Europe. Historically, the operations were known by the company ...

exchanges. FUTOP issues, clears, and guarantees

futures Futures may mean: Finance *Futures contract, a tradable financial derivatives contract *Futures exchange, a financial market where futures contracts are traded * ''Futures'' (magazine), an American finance magazine Music * ''Futures'' (album), a ...

and options on shares, indices, and

interest rate An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, th ...

products. FUTOP products can be traded electronically. Danmarks Nationalbank handles accounts in connection with the administration of margin requirements for trades. Net positions are calculated once a day, after which amounts are exchanged via the participants' accounts with Danmarks Nationalbank. FUTOP has outsourced most of its clearing services to

Stockholmsbörsen Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange ( sv, Stockholmsbörsen), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As o ...

(part of OM), but not the trade guarantee. Because market participants considered risk management at FUTOP to be so closely related to the provision of trade guarantees, risk management responsibilities were retained by FUTOP along with the trade guarantee.Christopher L. Culp, ''Clearing: A Risk Assessment'', FI Magazine August 2002

Notes

External links

*Denmark Nationalban

{{DEFAULTSORT:Futop Stock exchanges in Europe Economy of Denmark

See also

Notes

External links