NASDAQ OMX Commodities has been working with Trayport and the licence holders to create a solution for the Mandatory Market Making Obligation (MMO) under Secure and Promote based upon the financially settled UK Power Futures that price against the daily N2EX auction. The design allows obligated parties to make markets both in the electronic order-book and via the UK electricity brokers reporting through the Block Trade Facility, with full credit being given to all activity towards Ofgem’s MMO.
The MMO scheme went live on March 31st for two daily one hour windows starting at 10:30 and 15:30. To date RWE, E.ON and SSE have confirmed their ability to transact the NASDAQ OMX Commodities futures contracts as part of their strategy to fulfill their Secure and Promote requirements.
NASDAQ OMX Commodities welcomes the readiness of the stakeholders and anticipates greater transparency and better market access as a result of the intervention.
“With this initiative, NASDAQ OMX Commodities continues to strengthen its UK financial futures offering,” Bjørn Sibbern, Head of NASDAQ OMX Commodities, said. “We are particularly pleased to have achieved this in close cooperation with Trayport and our stakeholders in Great Britain.”
For further information, please contact NASDAQ OMX Commodities:
Jason Roland Hall, UK Energy and N2EX, phone +46 8 405 7848/ +46 7 3449 7848,
Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, firstname.lastname@example.org
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 70 marketplaces in 50 developed and emerging countries, 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. NASDAQ OMX is home to more than 3,300 listed companies with a market value of over $8 trillion, 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, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates 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 Clearing 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
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