Lysaker, 26 June 2012
Risk parameters for the N2EX Market will be updated based on a quarterly review.
The updated parameters will have impact on the calculation of the daily margin call for which collateral must be posted by 11:00 GMT on Tuesday 3rd July.
The volatility long parameter impacting members’ daily overnight position exposure have been revised downwards:
Volatility long: from £65/MWh to £60/MWh
The margin curve used in the calculating of the initial margin is unchanged.
The updated parameters can be found at:
http://www.n2ex.com/Clearing/riskmanagement/
For further information, please contact N2EX:
Kjersti Ulset, Head of Risk Management European Commodities, phone +47 6710 8415/+47 4828 1600, kjersti.ulset@nasdaqomx.com
Press contacts:
Sara Aadnesen, Director Communication, NASDAQ OMX Commodities, phone +47 6752 8080/+47 9060 0759
About N2EX
N2EX is the name of the UK power market offering from Nord Pool Spot and NASDAQ OMX Commodities. NASDAQ OMX Clearing is the authorized clearinghouse.
The web site, www.n2ex.com, provides market information and documentation for the UK power market.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its members. 350 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2011 the group had a total turnover of 316 TWh, which includes the auction volume in the UK market N2EX.
For more information, visit www.nordpoolspot.com
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand name for the NASDAQ OMX Group’s worldwide suite of commodity related products and services. The NASDAQ OMX Commodities offerings include power, natural gas and carbon emission markets and clearing services. NASDAQ OMX Commodities is a trademark of the NASDAQ OMX Group, Inc.
NASDAQ OMX Commodities Europe is the trade name of NASDAQ OMX Oslo ASA which is authorized as a commodity derivatives exchange by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Commodities Europe are subject to clearing with NASDAQ OMX Clearing.
NASDAQ OMX Clearing is the trade name of NASDAQ OMX Stockholm AB which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
NASDAQ OMX Commodities has nearly 350 members from over 15 countries covering a wide range of energy producers, consumers and financial institutions.
For more information, please visit www.nasdaqomxcommodities.com
This document is being directed solely at and may only be communicated to persons: (i) who have professional experience in matters relating to investments as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO") or, (ii) who are high net worth companies, unincorporated associations and trustees of high value trusts within Article 49(2)(a)-(d) of the FPO, or (iii) to whom it may otherwise be lawful to distribute it (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Person.