Probe Pledged on Why Nordic Power Whale Able to Clear Own Trades
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Sweden’s financial regulator on Friday vowed to investigate how a Nordic power trader that this week racked up huge losses and was barred by Nasdaq Inc. was able to act as his own clearer, or guarantor of trades.31
“This is a question that Nasdaq Clearing has to answer,” Daniel Gedeon, director of financial markets infrastructure supervision at the Swedish Financial Supervisory Authority, said by email. “As a supervisor we are investigating the situation thoroughly, both when it comes to fulfilling the criteria and the criteria in themselves.”