Page Metadata

Membership categories

Exchange Member 

An Exchange Member means an entity that has entered into an Exchange Membership Agreement with Nasdaq Oslo ASA. An Exchange Membership requires a Clearing Membership or a Clearing Account with a General Clearing Member (GCM). The member is granted direct access to exchange trading electronically and/or voice. 

Non-Clearing Member 

A Non-Clearing Member (NCM) is an Exchange Member that has entered into a Non-Clearing Membership Agreement with Nasdaq Oslo ASA. A Non-Clearing Membership requires a Clearing Account with a General Clearing Member (GCM). The member is granted direct access to exchange trading electronically and/or voice. 

General Clearing Member 

A General Clearing Member (GCM) is an entity that has been approved by the clearing house for clearing of principal transactions and client transactions on behalf of GCM clients e.g. Non-Clearing Members. Read more about the GCM Model >

Clearing Member 

A Clearing Member (CM) is an entity that has been approved by the clearing house for clearing of principal transactions. 

Direct Clearing Agent 

A Direct Clearing Agent (DCA) represents Direct Clearing Clients (DCC) in respect of trading. 

Direct Clearing Client 

A Direct Clearing Client (DCC) means an entity that has been approved by the clearing house to have transactions subject to clearing through a Direct Clearing Agent, for registration in a Direct Clearing Account where the Direct Clearing Client is account holder. A Direct Clearing Client is not a member of the exchange, but trades through a Direct Clearing Agent. The Direct Clearing Client gets its own settlement and post collateral by itself.

Block Broker Member 

A Block Broker Member means an entity that has entered into a Block Broker Membership Agreement with Nasdaq Oslo ASA. A Block Broker is an approved Exchange Member authorized to report block trades and EFP/EFS trades to the exchange.

Legal Relationships

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