In Exchange and Clearing Information no 78/13 NASDAQ OMX Commodities informed about the upcoming amendments to how trades executed outside the Electronic order book shall be reported to the Exchange/Clearinghouse from December 2, 2013 (subject to regulatory approval).
Technical impact
The Trade Reporting Service Description that was attached to the Exchange and Clearing Information no 78/13 deliberately did not clarify certain technical impacts of the amendments. A complete version of the Trade Reporting Service Description explaining the technical adjustments has now been created and can be found attached.
Note that for existing Commodities products (Nordic Power, German Power, Dutch Power, Electricity Certificates, UK Gas, UK Power, Allowances) only minor change to the description of the transaction types has been made whereas for the products migrated from NOS Clearing ASA (Freight, Fuel Oil and Iron Ore) new trade reporting types will be introduced.
Broker Appointment Form and OTC Representative Authorization Form
As informed in Exchange and Clearing Information no 78/13 the existing Broker Appointment arrangements will by default be transferred (technically and legally) and applicable for Block Transactions and EFS/EFP Transactions assuming the appointed Broker becomes an approved Block Broker Member. A similar principle will apply to the OTC Representative Authorization Form.
This arrangement will also by default be transferred (technically and legally) and applicable for Block Transactions and EFS/EFP Transactions assuming the Account Holder holds an Exchange Membership. The existing OTC Representative Authorization Form will continue to be valid after December 2. However, Members will not be able to enter into new OTC Representative Authorization Form from December 2. The Broker Appointment Form shall be used for that purpose.
Members who want to amend the existing Broker Appointment Form or the OTC Representative Authorization Form shall notify NASDAQ OMX in writing no later than November 8.
For further information, please contact NASDAQ OMX Commodities:
Georg Aasen, Vice President NASDAQ OMX Commodities, phone +47 6752 8076
Mari Borgen, Director Products and Market, phone +47 6710 8515
Media contact:
Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaqomx.com
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 U.S. and Europe, we own and operate 26 markets including 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-55 microsecond average speeds with 99.99% 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 3,300 listed companies worth $6 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.
NOS Clearing ASA is the leading clearing house for the freight market and a specialist clearing provider to the commodities markets. The company is wholly owned by the NASDAQ OMX Group Inc. The clearinghouse, which is situated in Oslo, has more than 300 members.
NASDAQ OMX Clearing AB 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
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.
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 Persons.
