Nasdaq omx post-Trade capabilities today cover the whole post-trade chain

• NASDAQ OMX Post-Trade capabilities today cover the whole post-trade chain

• Central Counterparty Clearing (CCP)

• Central Security Depository (CSD)

• CCP Capability

• Derivatives on cash market and commodities

• Plan to implement Cash CCP in 2012

• Integrated with NASDAQ OMX trading systems

• Genium INET Trading
• X-Stream INET

• Product coverage today

• Genium INET Clearing
• X-Stream INET Clering
• Genium INET Risk Manager

• CSD Capability

• Both equities and bonds

• Integrated with NASDAQ OMX clearing systems

• Product coverage today

• Genium INET CSD

NASDAQ OMX Nordic Derivatives Markets Clearing, Europe’s 3rd largest derivatives clearinghouse

• NASDAQ OMX Nordic Derivatives Markets Clearing, Europe’s 3rd largest derivatives clearinghouse

• Nordic, Baltic and Russian Equities (Standardized and Flex/Tailor Made)

• Futures, Forwards and Options on Single Stocks and Depository Receipts

• Futures, Forwards and Options on Tradable Indexes

• Futures, Forwards and Options on Custom Made Indexes

• Nordic Fixed Income (Standardized and Flex/Tailor Made)

• Forward Rate Agreements

• Bond Forwards and Futures

• Policy Rate Futures

• Options on Bond Forwards

• IRS

DMA and remote access require standardized and easy access to post trade services

• DMA and remote access require standardized and easy access to post trade services

• CCP a preferred solution but only if its cost efficient

• Globally accepted DvP model for settlement

• High standard risk management functionalities

• Post trade interoperability or linkages

• OTC Clearing

• Important especially on fixed income and FX derivatives

• Typically complicated due the nature of OTC market

• Technology

• Multi-instrument, multi-currency, multi-market, multi-time-zone

• Rich in risk management functionalities and interfacing capabilities

• Compliant with best practices

Armenian Pension System

• Armenian Pension System

• Three pillar system. Second pillar to be centrally operated by NASDAQ OMX Armenia

• Launch in 2014

• Central Depository Infrastructure

• Changes to settlement model

• Improved registry functionalities

• Guarantee fund to be established

• New services

• Credit Resource market

• Product development initiatives together with CBA covering tradable monetary policy and government issued securities