Nasdaq Clearing says has appealed $36 mln fine by Swedish Financial watchdog

Nasdaq Clearing has appealed a fine from Sweden's financial supervisory authority (FI) over deficiencies uncovered in the wake of a trader's default in 2018, the Nasdaq subsidiary said on Tuesday.

The FI on Jan. 27 issued a warning and a 300 million Swedish crowns ($36.19 million) administrative fine to Nasdaq Clearing for insufficient follow-up of memberships, miscalculations of trading margins and over its risk management.