Membership

The clearing membership with NOS is based on widely accepted criterias among clearing houses. All members are:

• Regulated by the same standard Rulebook
• Subject to the same margin & settlement procedures
• Subject to the same default procedures
• Subject to the same fee structure

A clearing membership with NOS will give the clearing members several highly valued effects:

• Counterpart replacement: NOS becomes your only counterpart, and the credit risk is reduced to a minimum.
• Position netting: All trades are booked on the same clearing account, with full netting of positions, like a bank account with credit and debit transactions.
• Margin is calculated on your net positions, reducing the locked up capital to a minimum. Netting of margin is given between different time periods and products.
• Settlement netting: When the member is entitled to both payables and receivables on the same day, all settlements are netted, reducing the cash requirement to a minimum.
• Outsourcing of back office: As a clearing member, all trades, positions and settlements are booked on your clearing account. The information is available through reports and on-line applications.
• Simple book keeping: Financial book keeping by use of NOS reports and applications. No need for invoices and the cash management and payment control.
• Realisation of Profit and Loss at the time the trade is closed as opposed to an OTC contract or a Forward contract where the P/L is realised at the final settlement day.

Clearing membership with NOS has no fixed cost. Clearing fees are linked to transactions, not positions.

To read more about our clearing model please click here.