The Clearing Rules Appendix 4 of the N2EX Rulebook has been updated to reflect the change in the N2EX gate closure time (see Important Reminder - Change to N2EX gate closure time – effective 28th January). The timing of all events linked to an Intra-Day Margin Calls have been adjusted with 1.5 hours.
The new version will come into effect on 31st January 2014 and can be viewed here: https://www.n2ex.com/physicalmarket/legalframework
For further information, please contact N2EX:
Kjersti Ulset, Responsible for N2EX Risk Management, tel +47 48281600
Media contact:
Sara Aadnesen, Director Corporate Communication, NASDAQ OMX Commodities, phone +47 9060 0759
About N2EX
N2EX is the name of the UK power market offering from Nord Pool Spot and NASDAQ OMX Commodities.
The website 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. 370 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2013 the group had a total turnover of 493 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.
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.
NASDAQ OMX Stockholm AB is authorized and supervised by the Swedish Financial Supervisory Authority in Sweden as an exchange that can carry out certain ancillary services. The clearing services provided by N2EX is carried out under the ancillary services license.