September 17, 2018 / 6:48 AM / in a month

Nasdaq says more than 90 pct of clearing house buffer has been restored

OSLO, Sept 17 (Reuters) - Members of Nasdaq’s Nordic commodities exchange have replenished more than 90 percent of clearing house contingency funds that were lost last week when a private Norwegian trader defaulted during a spike in market volatility, the exchange operator said.

Energy firms and other players on the 166-member market have been given until the end of Monday to plug the 114 million euro ($132.58 million) hole left by the fall of electricity derivatives trader Einar Aas, or themselves face default.

“Nasdaq would like to inform our members and clients that the Member Default Fund has more than 90 percent committed funds for recapitalization. We have no indication that any member will not replenish the default fund by the end of the day,” it said. ($1 = 0.8598 euros) (Reporting by Terje Solsvik, editing by Ole Petter Skonnord)

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