September 17, 2018 / 2:06 PM / in 3 months

Nasdaq says Nordic commodity clearing house funds fully restored

OSLO, Sept 17 (Reuters) - Members of Nasdaq’s Nordic commodities exchange have replenished vital 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.

“Nasdaq would like to inform our members and clients that the Member Default Fund now has been recapitalized by 100 percent, or 107 million euros ($125.12 million),” it said in a statement.

Nasdaq has previously said it would itself cover a loss to its junior capital of 7 million euros. ($1 = 0.8552 euros) (Reporting by Terje Solsvik, editing by Lefteris Karagiannopoulos)

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