London, 8 April 2013
N2EX, the joint UK power market offering from Nord Pool Spot and NASDAQ OMX Commodities, has announced the suspension of all trading fees on its CONDICO trading platform for one month, from Wednesday 10th April.
The ‘fee holiday’ will apply to all trades transacted directly on the CONDICO platform from 10th April to 10th May, inclusive.
N2EX developed the CONDICO trade platform for spot trading in the UK in close consultation with members, to help accommodate growing interest in the intraday market.
There has been solid support for the CONDICO platform since its launch last year, with N2EX members seeing the benefit of consolidating trading onto a single platform, part of the drive by N2EX to improve trading efficiency and lower entry barriers to the UK wholesale power market.
N2EX aims to provide a centralised solution for the power sector with intraday, auction and prompt established on a single clearing platform, with a unified collateral requirement and single membership fee. Growth in the UK intraday market is very much viewed as a natural progression for N2EX in its continuing commitment to hone its offering to the market in order to better serve the UK power sector.
For further information, please contact N2EX:
For further information on the CONDICO fee holiday please contact Emma McKiernan, Client Relationship Executive UK, phone +44 207 065 7041 or +44 7887 744 700, emma.mckiernan@npspot.com
Media contacts:
Stuart Disbrey, Communications Manager UK Nord Pool Spot, phone +44 207 065 7042 / +44 7887 409 044, stuart.disbrey@npspot.com
Sara Aadnesen, Director Corporate Communications, NASDAQ OMX Commodities and N2EX, phone: +47 6752 8080/+47 9060 0759, sara.aadnesen@nasdaqomx.com
About N2EX
N2EX is the name of the UK power market offering from Nord Pool Spot and NASDAQ OMX Commodities. NASDAQ OMX Clearing is the authorized clearinghouse.
The web site www.n2ex.com provides market information and documentation for the UK power market.
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 370 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2012 the group had a total turnover of 432 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. Nord Pool Spot strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence.
For more information, visit www.nordpoolspot.com.
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 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 Stockholm 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.
NASDAQ OMX Commodities has nearly 350 members from over 15 countries covering a wide range of energy producers, consumers and financial institutions.
For more information, please visit www.nasdaqomx.com/commodities
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 Person.