Norwegian Power Whale Booted Off Nasdaq After $117 Million Loss

Norwegian Einar Aas lost $117 million in a power bet. He has been famous in Norway for many years for consistently beating the market.

Many companies now have to pay to the default fond. Can someone ELI5?

www.bloomberg.com/news/articles/2018-09-14/nordic-power-whale-s-losses-on-nasdaq-another-blow-to-exchange

and why are companies a part of the default fund? What do they get out of it?

 

h/t Saoibh

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