Nasdaq Clearing did not offload the portfolio of defaulted power trader Einar Aas until June 2019 – more than nine months after an auction took place to sell the positions – according to an investigation of the default by the Swedish financial regulator. At the time of the auction, the clearing house asserted the portfolio had been “closed out”.
It now appears that after a first attempt to auction off the book failed, the central counterparty (CCP) used a second auction to obtain hedges for
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