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OSLO (Reuters) - Nasdaq Clearing has been fined 300 million Swedish crowns ($36 million) by Sweden’s financial supervisory authority (FI) over the default of a power trader in 2018 that showed deficiencies in its operations, the FI said on Wednesday.
FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS/Shannon Stapleton
The default by private Norwegian trader Einar Aas left a 114 million euro ($139 million) hole in the clearing house’s resources, forcing other members of the market to cover the loss within two business days or face default themselves.