As announced in Exchange and Clearing Information no 71/14, Genium INET will be upgraded to version 4.0.0230 during the weekend 22-23 November, 2014. Nasdaq Commodities will in conjunction with the upgrade make amendments to its Trading and Clearing Rules, effective November 24, 2014, and the following appendices will be affected:
- Trading and Clearing Appendix 2 - Contract Specifications
- Trading and Clearing Appendix 3 - Trading and Clearing Schedule
- Trading and Clearing Appendix 7 - Fee List
- Clearing Rules - General Terms
- Clearing Appendix 2A - Contract Specifications
- Trading Appendix 4 - Trading Procedures
The changes in the above mentioned Trading and Clearing Rules will be made to reflect the following:
LPG Freight Future and LPG Freight Option are included in the Trading and Clearing Appendix 2 - Contract Specifications under Part C Quotation List sections 5.1 and Part D Individual Contract Specifications sections 5.9 and 5.16. The contract specifications for the Coal Futures are added under the Contract Specification under Section B, Specific Provisions section 6 and Part D, Individual Contract Specification section 6. The overview of the contracts available for trading and clearing at any given time follows Part C Quotation List section 6.
In addition, Joint Appendix 3 - Trading and Clearing Schedule has been amended to reflect the coal contracts under a new section 4. The tradable size for both electronic and Block trades is 1 lot which is 1.000 tonnes. Please be aware that the launch of coal futures is still dependent regulatory approval.
To align with the procedures of the El-Certificate registry, the delivery clause has been amended to reflect that delivery takes place when it is actually visible on the account and not when the delivery is initiated. This has caused amendments to the El-Cert settlement schedule and El-Cert Delivery clause under the Contract Specifications Part B Quotation List sections 4.3 and 4.4 and the General Terms section 6.3.3.
The quotation list for seafood contracts is changed to reflect that all month-, quarter- and half year contracts within the current year + two (2) are listed for clearing. The changes are reflected under Clearing Appendix 2A - Contract Specifications, Clearing Listed Products Part C Quotation List, section 2.1.
Last, a typo has been corrected in Trading Appendix 4 - Trading Procedures section 14.
For full contract specifications please see the legal documents in black-lined version under “Upcoming Changes to Rules” in the Rulebook on our web pages: http://www.nasdaqomx.com/commodities/Marketaccess/legalframework
For further information, please contact Nasdaq Commodities:
Mette Steinsland, Legal Counsel, phone +47 67 10 80 71/+47 40 03 51 18 mette.steinsland@nasdaqomx.com
Media contact:
Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com
About Nasdaq
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About Nasdaq Commodities
Nasdaq Commodities is the brand name for the worldwide suite of commodity related products and services offered by Nasdaq. The Nasdaq 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 Oslo ASA is the commodity derivatives exchange authorized by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing
Nasdaq 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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