no 24/17 Upcoming Changes to Rulebooks


Subject to testing and regulatory approval, Nasdaq Commodities is announcing changes to its Trading and Clearing Rules, effective May 8, 2017.

These Appendices are affected:

  • Joint Trading and Clearing Appendix 1 - Definitions
  • Joint Trading and Clearing Appendix 2 - Contract Specifications
  • Joint Trading and Clearing Appendix 7 – Fee List

 

Delisting of contracts

Following industry development, Nasdaq Commodities will delist the following contracts for trading and clearing effective May 8, 2017:

German Power:

German Electricity Base EPAD DS Futures for the Dutch and Belgian areas

German Electricity Base DS Futures Options

German Electricity Peak Year DS Future

German Electricity Peak Quarter DS Future – Last tradable quarter product will be EDEPLQ4-17

German Electricity Peak Month DS Future – Last tradable month product will be EDEPLMDEC-17

No German Electricity Peak DS Futures Contracts will be listed after 2017

German Electricity Base and Peak Quarter Future – Reduction of listed series. As of May 8th 2017, 6 quarters will be available for trading.

Allowances:

EUA Options

Nordic Power:

Nordic Electricity Base DS Futures Year Options – Last tradable year product will be ENOP/CYR8DEC7

Nordic Electricity Base DS Future Quarter Option – Last tradable quarter product will be ENOP/CQ47SEP7

No Nordic Electricity Base DS Futures Option Contracts will be listed after 2017

French Power:

French Electricity Futures - Reduction of listed series. As of May 8th 2017, 3 peak and base load Years, 4 base and peak load Quarters, 4 base and peak load Months and 5 peak load Weeks will be available for trading.

The delisting of contracts are reflected under their individual Contract Specifications in the Joint Trading and Clearing Appendix 2 Part D and in Part C Quotation list.

 

Chief Trader Procedure (CTP)

Further, Nasdaq Commodities is introducing a Chief Trader Procedure (CTP) to strengthen the calculation of theoretical Daily Fix (closing prices) when there are no prices in the electronic order book. The Chief Trader Procedure will collect prices from external providers and calculate a simple average of all prices received via the Procedure. The Exchange can, at its sole discretion, disregard prices with substantial deviation from yesterday’s Daily Fix or other prices received via the Chief Trader Procedure.

The Chief Trader Procedure is reflected in Joint Trading and Clearing Appendix 2 Contract Specifications Part A section 4.4.5 and with a new definition in Joint Trading and Clearing Appendix 1 Definitions.

For updated rulebooks and appendices please see:

http://www.nasdaqomx.com/commodities/Marketaccess/legalframework/upcoming-changes-to-rules

 

Fee list

For the service TTNext Gen-Pro there is made a minor clarification in the Joint Trading and Clearing Appendix 7 Fee List section  4.2 and the appurtenant footnote 22.

 

For further information, please contact Nasdaq Commodities:

Mette Steinsland, AVP Principal Associate General Counsel, phone +47 6752 8071, mette.steinsland@nasdaq.com

Anne-Marit Rudby, Head of Nordic Power, +47 67 52 81 35, anne-marit.rudby@nasdaq.com

Arman Mohii, Head of German Power, phone +46 8 405 7850, arman.mohii@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 3,600 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 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 Oslo ASA are subject to clearing with Nasdaq Clearing.

About Nasdaq Clearing

Nasdaq Clearing is the trade name of Nasdaq 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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