NASDAQ OMX Commodities has decided to extend the offering of clearing bilateral German electricity contracts, traded before 4 February 2014, free of charge. This offer will be effective from 4 February 2014 until 30 June 2014.
This offer is available for all General Clearing Members, Clearing Members and Clearing Clients (“Account Holders”) clearing German electricity contracts. Only standardized contracts according to the Trading and Clearing Appendix 2 Contracts Specifications can be reported for clearing. Both parties to the contract must be Account Holders of NASDAQ OMX Clearing (“the Clearinghouse”) and both must approve the contracts for clearing.
The reporting of German bilateral contracts for clearing must contain the information in the below link “Clearing of German bilateral contracts form” and must be confirmed to the Clearinghouse by email: clearing.de@nasdaqomx.com
http://www.nasdaqomx.com/digitalAssets/90/90251_040214-clearing-of-german-electricity-bilateral-contracts-form.pdf
The Clearinghouse will monitor the contracts to ensure that sufficient collateral is posted. If needed, Account Holders must post additional collateral before the Clearinghouse will accept the contracts for clearing. Account Holders will be contacted regarding additional collateral requirements, and the date on which the contracts will be registered for clearing by the Clearinghouse.
All listed German electricity contracts are available on:
http://www.nasdaqomx.com/commodities/markets/products/power/germanpower/
For further information on how to become a member, please contact:
salescommodities@nasdaqomx.com
For further information, please contact NASDAQ OMX Commodities
Arman Mohii, Product Director Central European Power and Options; phone +46 8 4057850/+46 73 4497850
Kjersti Ulset, Head of Risk Management Commodities + 47 6710 8415/+47 48281600
Lisa Nordlander, Head of Clearing and Custody Services, phone +46 8 405 6626/+46 73 4496626
Media contact:
Sara Aadnesen, Director of Communications, phone +47 9060 0759
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-40 microsecond average speeds, our technology drives more than 80 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 more than 3,300 listed companies worth $7 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
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