The Clearing Risk Management Department is responsible for professionally managing NASDAQ OMX Derivatives Markets counterparty risks.

This is accomplished through a comprehensive counterparty risk management framework, which is made up of policies, procedures, standards and resources. The resources are human, informational and technological. These resources and the framework that is applied are relied upon to provide the accurate measurement, reasonable control, and desired level of protection from all identifiable counterparty risks and all operational risks arising within the Clearing Risk Management Department’s scope of responsibility. The framework is also designed to meet the counterparty risk management and related corporate governance objectives of Derivatives Markets.

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The day-to-day work is directed at achieving the following:
• Supporting the business operations of Derivatives Markets by assessing and managing the counterparty risk associated with existing and/or new products and services.
• Delivering professional risk management via a comprehensive risk management framework.
• Ensuring that executive management and relevant Board of Directors are appropriately informed of all significant counterparty risk control issues which occur.
• Maintaining compliance with international industry standards specific to Risk Management.
• Making continuous improvements to Derivatives Markets counterparty risk management framework.

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