no 13/15 Delivery of Electricity Certificates March 2015


Stockholm, 24th February 2015

Delivery of Electricity Certificates with expiry in March 2015 is approaching with 13th March 2015 as the Expiration Date and Last Trading Day for the contracts ELCEURXMAR-15 and ELCSEKMAR-15.

NASDAQ Clearing would like to remind its members the following:

The net sellers must ensure that they have procured a delivery of all Electricity Certificates (ELCs) to the Clearing House's account in Cesar within 19.00 CET on the 13th of March. Holders of NECS-accounts have to initiate the transfer from NECS before 15:00 CET on 13th of March for the certificates to reach NASDAQ’s account in Cesar before 19:00 CET on the 13th of March. A failure to do a delivery will constitute a Default Event.

Account number for delivery in Cesar: 643002406700077095

The Margin Requirement for Electricity Certificates will increase considerably towards the Expiration Day as the contracts’ volatilities will increase and the contracts' correlations will be removed, giving no margin credits. The increased margins reflect the approaching settlement. The net sellers may pre-deliver Electricity Certificates in advance of the Expiration Day. Pre-delivered Electricity Certificates will reduce the net sellers' need to post extra collateral to cover the increased Margin Requirement.

Net buyers must have collateral to cover payment margin equal to the net settlement within 10.30 CET 16th of March 2015 at the latest for ELCEURXMAR-15 and ELCSEKMAR-15

For further information, please contact Nasdaq Commodities:

Clearing Operations, +46 8405 6880, clearing@nasdaq.com

Kjersti Ulset, Head of Risk Management European Commodities, +47 6710 8426, kjersti.ulset@nasdaq.com

Media contact:

Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com

 

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets.  As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.

 

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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