Technical news – 6/26 IT – INET Nordic – REMINDER #2: Expansion of CCP clearing to Exchange Traded Products in Spotlight Market as of June 1, 2026
As previously communicated in earlier IT Notices, the scope of Instruments that are cleared by Central Counterparty (CCP) will be expanded on Spotlight Sweden Certificates (SPSD) segment.
Regulatory approval has been confirmed
The instruments will be cleared via competitive central counterparty model with interoperating CCPs Cboe Clear and SIX x-clear, and where not both CCPs can accept the instrument, one of these CCPs. Some instruments will remain outside of the scope of CCP clearing and will remain in current bilateral settlement model. The effective date for this change is June 1, 2026, regulatory approval confirmed
List of impacted instruments (status 2026-05-25) is enclosed to this IT Notice.
Trades executed in impacted instruments up to and including May 29, 2026 are gross settled and trades executed as of June 1, 2026 are CCP cleared. The first CCP net settlements will take place according to standard settlement on T+2 for any trades executed on June 1, 2026.
Details
There are no changes in ISIN codes, order book ids, turnover lists/list populations or trading hours for the affected instruments.
Instruments’ CCP Eligibility is provided as part of GCF TIP reference data in BasicDataTradable, field CCPList. Updated reference data will be available via GCF and FDS on Wednesday morning June 1, 2026.
CCP setup
As not all CCPs will be able to clear all the instruments in scope of other CCPs, two different models will be introduced for the CCP clearing setup in addition to the current bilateral settlement model that is in place for the instruments in scope of this change.
NB. CCPs have a right to reject instruments from their scope if they are not able to accept them due to e.g. regulatory or risk management reasons. In this case, the instruments will either be CCP cleared by the other CCP(s) that can accept them or will fall within the bilateral settlement scope.
Information on which CCPs clear which instruments is provided as part of GCF TIP reference data in BasicDataTradable (BDt) field CCPList (CCPl). Updated reference data will be available via GCF.
- Interoperability with two CCPs
This model will be applied to instruments that only two out of the three CCPs can support. At this time, this includes instruments that can only be cleared by Cboe Clear and SIX x-clear.
Members that are not currently using Cboe Clear or SIX x-clear as their CCP will not be able to trade these instruments.
- CCP clearing with one CCP
This model will be applied to instruments that only one out of the three CCPs can support. At this time, this includes instruments that can only be cleared by Cboe Clear.
Members that are not currently using Cboe Clear as their CCP will not be able to trade these instruments.
Bilateral settlement model without CCP clearing
The rest of the instruments that do not fall within the above two models will continue to be bilaterally settled as is the case today.
Instruments supporting either CCP clearing or bilateral settlement will remain on the current market segment.
A list of current instruments in scope of CCP clearing and the CCPs that support these instruments can be found in the Excel attachment at the end of the notice.
As not all CCPs are able to offer clearing in all of the instruments in scope, Members should review the list of instruments covered by each CCP to ensure their CCP supports the instruments they want to trade going forward.
Protocol specifications
There are no changes to INET protocol specifications based on this expansion of CCP scope. Current and future versions of INET protocol specifications are available at the Nasdaq Nordic Technical Information website.
Time schedule
- INET Test (NTF) – available
- INET Production – June 1, 2026
Technical support
For technical questions, please contact Nasdaq European Market Exchange Services:
Tel: +46 8 405 7700
E-mail: emo@nasdaq.com
For information about current orderbooks changing market segments, information about which CCP model each orderbook will be subject to and which ISIN will be cleared by which CCP(s), please see the attached excel spreadsheet at the end of this notice.
For all other questions, please contact Spotlight:
Spotlight Trading Operations
Tel: +46 8-511 68 000
E-mail: trading@spotlightstockmarket.com