OSLO, Norway, March 17, 2010 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announces the acquisition of Nord Pool ASA, the world's largest power derivatives exchange and one of Europe's largest carbon exchanges, following Statnett's and Svenska Kraftnät's decision to exercise their option to sell the shares in the company. Financial terms were not disclosed.
In October 2008, NASDAQ OMX acquired Nord Pool Clearing ASA and Nord Pool Consulting AS from Nord Pool ASA. In addition, the owners of Nord Pool ASA, Statnett and Svenska Kraftnät, received an option to sell the shares in Nord Pool ASA to NASDAQ OMX at a later date. Statnett and Svenska Kraftnät have now decided to exercise that option. The transaction is subject to regulatory approvals. The acquisition does not comprise the Nordic physical electricity market operated by Nord Pool Spot AS.
Nord Pool ASA will be a part of NASDAQ OMX Commodities, which is the common offering within commodities from the NASDAQ OMX Group. Today's activity in Nord Pool ASA will continue from the premises in Lysaker outside of Oslo, Norway.
"The transaction has strong strategic rationale by reuniting the power and carbon derivatives exchange and clearing business under the same parent, allowing attractive upside opportunities," says Geir Reigstad, Head of NASDAQ OMX Commodities. "It will broaden the current commodities product range and the aim is to attract new financial participants onto the platform and increase liquidity and volume."
ABOUT NASDAQ OMX COMMODITIES AND NORD POOL ASA
NASDAQ OMX Commodities and Nord Pool ASA provide access to the world's largest power derivatives exchange and one of Europe's largest carbon markets. NASDAQ OMX Commodities is responsible for the international derivative and carbon products offering, and also operates the clearing business and offers consulting services to commodities markets globally. Agora-X, a U.S. electronic communications network for institutional trading in over-the counter (OTC) commodity contracts, is a part of NASDAQ OMX Commodities. North American Energy Credit and Clearing Business (NECC), a U.S. clearinghouse for the OTC power and gas markets, is also a part of NASDAQ OMX Commodities. Together with Nord Pool Spot, NASDAQ OMX Commodities has set up N2EX, the marketplace for physical UK power contract. Nord Pool ASA is responsible for the exchange operations and trading activities, including ownership of the Nordic derivative products. NASDAQ OMX Commodities and Nord Pool ASA have more than 390 members from 22 countries across a wide range of energy producers and consumers, as well as financial institutions. NASDAQ OMX Commodities is the common offering from NASDAQ OMX Stockholm AB and the Norwegian branch NASDAQ OMX Oslo related to the commodities market.
For more information, please visit www.nasdaqomx.com/commodities and www.nordpool.com.
ABOUT NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
NASDAQ OMX's Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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