Introduction of penalty fees 1 April
This is a short follow up on our previous newsflash from 20 February regarding the introduction of settlement penalty fees in the Swedish market. We then referred to the coming Euroclear Sweden Board approval on 11 March.
Please be informed that today the Board approved the introduction of a settlement penalty fee from 1 April 2015. This means that we will introduce a settlement penalty fee of 500 SEK on matched instructions failing to settle on the settlement date. The penalty fee will only be charged on CCP cleared transactions.
We will get back with further details on the process within the next few days