Lysaker, 15 November, 2012.
NASDAQ OMX Commodities launches Estonian CfD contracts on Monday 26 November, 2012, and has started a process with Eesti Energia in market making this CfD area.
Since the launch of the Estonian spot price area in 2010, the price formation and liquidity has increased steadily and is now at a level where we are confident in introducing Estonian CfD contracts.
Georg Aasen, Vice President of NASDAQ OMX Commodities, said: “NASDAQ OMX Commodities is very pleased to be working closely with Eesti Energia to start market making for Estonian CfDs. We see the Estonian CfDs as important tools for hedging and for further developments of the Baltic power market, and welcome similar developments in other Baltic countries.”
Mr. Margus Vals, Director of Energy Trading at Eesti Energia, commented: “Eesti Energia welcomes the launch of Estonian CfDs and will contribute as an important liquidity provider for the market from the beginning. As a whole, there are elements which need to be improved in the Baltic power markets going forward and in order to facilitate cross border trading, Eesti Energia welcomes more CfD products for hedging in other Baltic price areas.”
About Eesti Energia
Eesti Energia is an international energy company that operates in the unified energy market of the Baltic and Nordic countries. Eesti Energia is fully owned by the Estonian government and the Eesti Energia's core business is electricity, liquid fuels and electricity networks. Eesti Energia operates in the Baltic and Nordic electricity markets, in the USA and in Jordan. In foreign markets Eesti operates under the Enefit brand.
About NASDAQ OMX
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 24 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.999% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $5.1 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
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.
For more information, visit www.nasdaqomx.com/commodities
For further information, please contact NASDAQ OMX Commodities:
Jukka Nygren, Director Commodity Market Sales, phone +358 9 6166 7293/+358 50 453 6300, jukka.nygren@nasdaqomx.com
Media contact:
Sara Aadnesen, Director Corporate Communication, phone +47 6752 8080/+47 9060 0759, sara.aadnesen@nasdaqomx.com
Eesti Energia:
Margus Vals, Director of Energy Trading, phone +372 56 496 454, margus.vals@energia.ee
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