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Nasdaq offers clearing of interest rate swaps, overnight index swaps and forward rate agreements denominated in SEK, DKK, NOK and EUR. These are commonly referred to as Generic Rate Instruments, a term that is also used in the regulatory framework. 

Download the eligibility rules for each product and currency

Find below product guides describing each OTC product. For more information, see Rules & Regulations.

Interest Rate Swaps (SEK-denominated)

Clearing is available for plain vanilla interest rate swaps denominated in SEK. Nasdaq supports SEK-denominated interest rate swaps with the following characteristics: 

  • Fixed against floating 3M STIBOR 
  • Forward starting 
  • Front stubs with interpolation 
  • Back stubs with interpolation 
  • IMM rolls 
  • EOM rolls 
  • Spread on the floating leg 
  • Negative interest rate values 
  • Non-standard fixing lags 
  • 30/360, Act/360 or 30E/360 on the fixed leg Act/360 on the floating leg 
  • Modified following business day convention 
  • Maturity up to 30Y 
  • Different effective dates 
  • Un-adjusted coupons 

Interest Rate Swaps product guide

Forward Rate Agreement (SEK-denominated)

Clearing is available for forward rate agreements denominated in SEK against 3M STIBOR. Nasdaq supports SEK denominated forward rate agreements with the following characteristics: 

  • Contract settled against 3M STIBOR
  • Cash settled at expiry 
  • Act/360 day count 
  • Maturity up to 2Y 
  • Negative interest rate values 

Overnight Index Swap/STINA (SEK-denominated)

Clearing is available for overnight index swaps denominated in SEK against T/N STIBOR (STINA Swaps). Nasdaq supports overnight index swaps with the following characteristics:

  • Contract settled against T/N STIBOR 
  • Act/360 or 30/360 on the fixed leg 
  • Act/360 on the floating leg 
  • Modified Following business day convention 
  • Maturity up to 10Y 

Overnight Index Swap/STINA product guide

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