Clearing Operations (Tables)

12 Months Ended

Dec. 31, 2014

Clearing Operations [Abstract]

Schedule of Clearing Member Default Fund Contributions

	December 31, 2014
	Cash Contributions(1)(2)		Non-Cash Contributions		Total Contributions
	(in millions)
Default fund contributions	$	299	$	68	$	367
Margin deposits		1,895		5,707		7,602
Total	$	2,194	$	5,775	$	7,969

(1)As of December 31, 2014, in accordance with its investment policy, Nasdaq Nordic Clearing has invested cash contributions of $1,484 million in reverse repurchase agreements and $664 million in highly rated government debt securities and time deposits. The remainder of this balance is held in cash.

(2)Pursuant to clearing member agreements, we pay interest on cash contributions to clearing members

Schedule of Derivative Contracts Outstanding

The market value of derivative contracts outstanding prior to netting was as follows:

	December 31, 2014
	(in millions)
Commodity and seafood options, futures and forwards(1)(2)(3)	$	1,262
Fixed-income options and futures(2)(3)		826
Stock options and futures(2)(3)		146
Index options and futures(2)(3)		246
Total	$	2,480

(1)We determined the fair value of our forward contracts using standard valuation models that were based on market-based observable inputs including LIBOR rates and the spot price of the underlying instrument.

(2)We determined the fair value of our option contracts using standard valuation models that were based on market-based observable inputs including implied volatility, interest rates and the spot price of the underlying instrument.

(3)We determined the fair value of our futures contracts based upon quoted market prices and average quoted market yields.

Schedule of Derivative Contracts Cleared

The total number of derivative contracts cleared through Nasdaq Nordic Clearing for the years ended December 31, 2014 and 2013 was as follows:

	December 31, 2014		December 31, 2013
Commodity and seafood options, futures and forwards(1)		2,394,710		2,777,076
Fixed-income options and futures		18,678,778		22,834,003
Stock options and futures		32,236,023		23,583,178
Index options and futures		42,871,645		29,960,888
Total		96,181,156		79,155,145

(1)The total volume in cleared power related to commodity contracts was 1,566 Terawatt hours (TWh) for the year ended December 31, 2014 and 1,680 TWh for the year ended December 31, 2013.