no 45/08 Revised Rulebooks effective from 16 July 2008 - introducing GCM model

Nord Pool ASA and Nord Pool Clearing ASA will launch new versions of its Rulebooks (Trading Rules and Clearing Rules). The new Rulebooks will come into effect from 16 July 2008.

The main changes relate to:

1. the introduction of a General Clearing Member (GCM) model; 
2. a consolidation of the power and emissions Rulebooks; and
3. certain changes to the Market Conduct Rules.

Introduction of GCM Model
From mid July, Nord Pool will introduce a new member category for General Clearing Members (GCMs). The GCMs will act as counterparties to Nord Pool Clearing ASA both for proprietary trading and client trading. Other member categories will remain unchanged by the GCM model. 

Consolidation of the Rulebooks
The consolidation of the Rulebooks entails that there are no longer separate Rulebooks for power and emission based products. This is solely a technical implementation and changes to the underlying rules are immaterial.

Changes to the Market Conduct Rules
The changes to the Market Conduct rules are mainly to facilitate the introduction of new products and new markets. The Urgent Market Message (UMM) reporting requirements have been clarified and in some areas relaxed. Changes have also been made in relation to the definition of insider information, and the prohibition of conducting trades when holding insider information.

Further information
- For the complete new rulebooks effective from 16 July 2008, please see /en/asa/clearing/Rulebook/ legal framework>>

- Further information about the /en/asa/clearing/General-Clearing-Member-Model/ GCM model>> 

- Further information about the changes to the http://www.nordpool.com/static/nordpool/archive/upload/MS/News/MCR.pdf" Market Conduct Rules>> 

  

For further information, please contact Nord Pool Clearing: 

Erik Thrane, general counsel, phone + 47 6752 8089

Press contact: Lars Galtung, vice president communications, 
phone +47 6752 8080/+47 9821 4812