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How to Become a Member

All participation on the Nasdaq Derivatives Markets is performed through its members. Next follows a step-by-step description on how to obtain a membership at Nasdaq Derivatives Markets.

1. Choose membership type

General Clearing Member - GCM

Entitled to participate in the clearing activities of the clearing house

  • On its own behalf
  • On behalf of customers including non-clearing members (NCM)

Non-Clearing Member - NCM

Trading member who clears trades via a General Clearing Member

Direct Clearing Member - DCM

Entitled to participate in the clearing activities at the exchange

  • On its own behalf
  • On behalf of customers excluding non-clearing members (NCM)

Direct Clearing Client - DCC

Entitled to participate in the clearing activities of the clearing house

  • On its own behalf

2. Send in membership application including appendices

Fill in the below Membership application form and send in together with appendices:

- For GCM, DCM and NCM please fill in Membership application - Nasdaq Nordic

- For DCC Direct Clearing Client Application Form

- All applicants are required to complete the Sanctions Screening Information Request Form as a mandatory attachment to the Membership application

- All unregulated applicants are required to complete the Additional Information Form as a mandatory attachment to the Membership application

- The applicant must provide documentation in English, Swedish, Norwegian or Danish languages.

Please attach the following appendices to the application:

  • Annual report for the previous year (signed by Auditor)
  • Interim Report (if existing)
  • Articles of Association
  • Copy of relevant authorizations to provide investment services from local FSA
  • Copy of the company’s Certificate of Incorporation (max 2 months old)
  • Documentation evidencing due authorization of the signing person(s) to sign on behalf of the relevant legal entity
  • A list of signatories with signature samples of the signing person(s) and/or copies of official ID of the signing person(s) (passport, national ID etc.)
  • Description of the ownership structure (if part of a group of companies)

3. Member Testing of the Genium INET Trading and Clearing System

Make sure you discuss your market access setup and account structure with your Nasdaq membership coordinator. The structure can then be verified in a test environment before go live.

4. Connectivity and Software

For conformance test of software used towards Nasdaq, please contact Technical Support with team to arrange testing.

5. Education and Authorization of Traders and Back-Office Personnel

Each trading member is required to have a minimum of two authorized traders registered for Genium INET Trading. 

Please visit the Nasdaq Academy page for further information about authorization and self-study materials.

6. Member agreements and forms to be completed

Fill in, sign and send documentation to Nasdaq

  • Originals should be delivered to:

Nasdaq Vilnius
Att: Memberships
Business center K29
Konstitucijos pr. 29
LT-08105 Vilnius
Lithuania

#
Agreement/Form
Mandatory
Required shape
Required Signature
Purpose
1
Exchange Member Agreementfor exchange membersTwo (2) originalsAuthorized signatoryTwo party agreement between applicant and Nasdaq Stockholm AB (the Exchange)
2
Clearing Member Agreementfor GCM or DCMTwo (2) originalsAuthorized signatoryTwo party agreement between applicant and Nasdaq Clearing AB (the Clearing House)
3Clearing Agreementfor NCMOriginal with GCM, scanned copy to NasdaqAuthorized signatoryTwo party clearing agreement between NCM and GCM
4Direct Clearing Client Agreementfor DCCThree (3) originalsAuthorized signatoryTwo party agreement between applicant, GCM/DCM and Nasdaq Clearing AB
5Entry formYesSigned and scanned copy
Form to specify and request market access
6License agreement: Genium INET Clearing Workstation
CW1
for GCM, DCM and DCCTwo (2) originalsAuthorized signatoryLicense agreement for the Genium INET Clearing Workstation software
7License agreement: Genium INET Trading Workstation
Two (2) originalsAuthorized signatoryLicense agreement for the Genium INET Trading Workstation software
8License Agreement: OMnetYesTwo (2) originalsAuthorized signatoryAgreement to access Nasdaq OMnet API
10Access agreement - TradeGuard
Signed and scanned copyAuthorized signatoryAgreement to access Nasdaq TradeGuard service

System Access

11Exchange Trader Applicationfor exchange membersSigned and scanned copy
Registration form for authorized traders (minimum 2). Received when authorization is completed.
12Trading Access Form (Request for Access)
Signed and scanned copy
Request for Trading Workstation GUI user
13Clearing Access Form (Request for Access)for GCM, DCM and DCCSigned and scanned copy
Request for Clearing Workstation GUI user (CW1 or CW2)
14CMS Web Access form (Request for Access)for GCM, DCM and DCCSigned and scanned copy
Request for Collateral Management Web GUI admin user
15Third party access - CMS Web
Signed and scanned copy
Applicable if DCA will handle CMS for DCC
16Request for access - FIX/FIX Drop
Signed and scanned copy
Request for FIX ports
17Request for access - ITCH
Signed and scanned copy
Request for ITCH feed
18Request for access - TradeGuard
Signed and scanned copy
Request for TradeGuard
19Member Portal Administrator Appointment Formfor GCM, DCM, DCA and NCM
Signed and scanned copyAuthorized signatoryForm to appoint Administrator(s) in accordance with the provisions of the General Terms of Nasdaq Member Portal.

Collateral and Default Fund

20Default Fund Custody Account Agreementfor GCM, DCM and DCCTwo (2) originalsAuthorized signatoryFor the custody account holding member’s posted default fund contribution
21Collateral Custody Account Agreementfor GCM, DCM and DCCTwo (2) originals per custody accountAuthorized signatoryFor the custody account holding member’s posted collateral
22Collateral SSI formfor GCM, DCM and DCCSigned and scanned copy
For call back of posted collateral. Same for Collateral and Default Fund, or separate
23Member Preferences (CMS)for GCM, DCM and DCCElectronic copy
Form to provide member’s preferences regarding base currency, currency for fees and report subscription

Settlement

24Cash Settlement – Power of Attorneyfor GCM, DCM and DCCOriginal to bank, electronic copy to NasdaqAuthorized signatory and Settlement BankAgreement with Settlement Bank to debit/credit daily settlement. Must be approved by Settlement Bank
25SSI for Securitiesfor GCM, DCM and DCCSigned and scanned copy
Delivery instructions for physical deliveries

For commodities products only

26Registry account notification form for carbon contracts EUAfor GCM, DCM and DCCElectronic copy
Delivery instructions for EUA deliveries
27Registry account notification form for El Cert contractsfor GCM, DCM and DCCElectronic copy
Delivery instructions for El Cert deliveries

7. Get confirmation and start trading and clearing at Nasdaq

Trading and clearing can start when all agreements and forms have been approved by Nasdaq, technical access has been established and a start date has been agreed.

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