London, 3 June 2010
Nord Pool ASA invites market participants and existing members of N2EX and the
Nord Pool financial market to start technical preparations for trading and
clearing of N2EX referenced UK cash-settled power futures contracts. The
contracts will be part of the NASDAQ OMX Commodities offering.
Participation in testing of systems
Members and independent software vendors are invited to participate in test
trades to verify that the new incorporated products comply with established
routines. NASDAQ OMX Commodities will upgrade the test and training system on
14 June. Log in information will be provided when the system is ready for use.
Upgrades to membership agreements
Existing members at the Nord Pool financial market will be able to trade and
clear UK power futures contracts under their existing memberships, but need to
establish new bank accounts for settlement and collateral arrangements in the
United Kingdom. They also need to provide a revised entry form.
New members can contact our sales and marketing representatives to get a brief
introduction to the sign up procedure as well as an introduction to the UK
power futures contracts.
The sales and marketing team will be of assistance during the sign up and
membership application process for existing and new members.
The UK power futures will be traded on Nord Pool ASA's financial market, and
clearing will be operated by NASDAQ OMX Stockholm AB and NASDAQ OMX Oslo.
For information on changes to the Trading Rules and the Clearing Rules due to
the N2EX referenced UK power futures contracts, please refer to the exchange
and clearing information no 26/10 at www.nordpool.com.
The revised Trading and Clearing Rules will become effective on 7 June 2010 and
can be found at www.nordpool.com/membership/legalframework.
For further information, please contact NASDAQ OMX Commodities/Nord Pool:
Geir Reigstad, senior vice president, NASDAQ OMX Commodities, phone +47 9084
6735
Marianne Wergeland Jenssen, senior vice president, financial market, Nord Pool
ASA
phone +47 6752 8076
Media contact:
Trine Fersnes Riccardi, corporate communications, NASDAQ OMX Commodities,
phone +47 6752 8080/+47 9574 7497,
trine.riccardi@nasdaqomx.com
Sales and marketing contacts for signing up for UK futures:
Christina König, phone +46 8 405 7842, christina.konig@nasdaqomx.com
Deirdre Lane, phone +44 (0) 207 065 8078, deirdre.lane@nasdaqomx.com
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand
name for offerings related to commodities within the NASDAQ OMX Group, Inc and
is not a legal entity. NASDAQ OMX Commodities provides access to the world's
largest power derivatives exchange and one of Europe's largest carbon markets,
through Nord Pool ASA. Nord Pool ASA is a commodity derivatives exchange
authorised by the Norwegian Ministry of Finance and supervised by the Norwegian
Financial Supervisory Authority. NASDAQ OMX Commodities also provides clearing
services through NASDAQ OMX Stockholm AB and its Norwegian branch NASDAQ OMX
Oslo, acting as an authorised clearinghouse. N2EX is the brand name for NASDAQ
OMX Commodities' and Nord Pool Spot AS offering in the UK power market and
NASDAQ OMX Stockholm AB is the authorised clearinghouse. NASDAQ OMX Commodities
has more than 380 members from over 20 countries covering a wide range of
energy producers, consumers and financial institutions.
For more information about NASDAQ OMX Commodities, visit www.nordpool.com and
www.nasdaqomx.com/Commodities
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers
trading, exchange technology and public company services across six continents,
with more than 3,600 listed companies. NASDAQ OMX offers multiple capital
raising solutions to companies around the globe, including its U.S. listings
market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the
U.S. 144A sector. The company offers trading across multiple asset classes
including equities, derivatives, debt, commodities, structured products and
exchange-traded funds. NASDAQ OMX technology supports the operations of over 70
exchanges, clearing organizations and central securities depositories in more
than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal
entities but describe the common offering from NASDAQ OMX exchanges in
Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius.
For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. Please
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NASDAQ OMX's Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
NASDAQ OMX's products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements. Forward-looking
statements involve a number of risks, uncertainties or other factors beyond
NASDAQ OMX's control. These factors include, but are not limited to factors
detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed
with the U.S. Securities and Exchange Commission. We undertake no obligation to
release any revisions to any forward-looking statements.
This document is being directed solely at and may only be communicated to
persons: (i) who have professional experience in matters relating to
investments as defined in Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "FPO") or, (ii) who are high net
worth companies, unincorporated associations and trustees of high value trusts
within Article 49(2)(a)-(d) of the FPO, or (iii) to whom it may otherwise be
lawful to distribute it (all such persons together being referred to as
"Relevant Persons"). Any investment activity to which this document relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons.
no 32/10 Technical preparation for N2EX referenced UK power futures contracts
| Quelle: Nasdaq Commodities