(Lysaker, 7 September 2007) Nord Pool Clearing (NPC) has decided to lower the fees for clearing of options from 0.7 to 0.5 percentage of the option premium.
NPC will also include the cleared volume of options when calculating member's total variable clearing fees.
The new and competitive terms for options clearing will give members 0.2 percentage point lower fees of the option premium when clearing options. In addition, the maximum clearing fee will be reduced from 0.0050 EUR/MWh to 0.0045 EUR/MWh and the minimum clearing fee will be removed.
Torger Lien, CEO of Nord Pool ASA and chairman of the board Nord Pool Clearing ASA, states:
“Nord Pool Clearing will maintain the position by offering products at terms that makes Nord Pool Clearing the preferred choice for the market participants. The new fee structure will reduce transaction costs, providing an incentive for increased liquidity and trading at Nord Pool. This will be beneficial for both large and small members, as well as potential members.”
The new fee structure will come into effect from 1 October 2007. The calculation of the members new fee step, including options, will take effect from 1 January 2008.
Overview - variable fee structure for clearing options:
Clearing fees for option contracts
Options, percentage of option premium:
0.5%
Maximum clearing fee:
0.0045 EUR/MWh
Delivery for exercised/assigned trades - discount of:
50%
“Small customer” discount:
Option volume will be included in the calculation of fee step.
30%
About Nord Pool
Nord Pool is the world's first international commodity exchange for electricity, green certificates, European Union allowances (EUAs) and certified emission reductions (CERs).
The core business of the Nord Pool group is trading and clearing physical-delivery and financially-settled power contracts in the Nordic region (Finland, Sweden, Denmark and Norway).
The group has more than 420 members from 21 countries across a wide range of energy producers and consumers as well as financial institutions. Nord Pool has over 100 members from 18 countries in the carbon market.
The Nord Pool group comprises Nord Pool ASA and Nord Pool Spot AS.
Nord Pool ASA embraces the wholly-owned Nord Pool Clearing ASA and Nord Pool Consulting AS subsidiaries. It is owned 50-50 by Svenska Kraftnät and Statnett, the transmission system operators (TSOs) in Sweden and Norway respectively.
Nord Pool Spot AS and its wholly-owned Nord Pool Finland Oy subsidiary are owned 20 per cent each by the Fingrid, Energinet.dk, Statnett and Svenska Kraftnät TSOs, and by Nord Pool.
The Nord Pool group has offices in Lysaker (Oslo), Fredericia, Stockholm, Helsinki, Berlin and Amsterdam.
http://www.nordpool.com/static/nordpool/archive/information/press_releases/Pdf/21-07loweredoptionfees.pdf Press release no 21/2007 (PDF-format)
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For further information, please contact Nord Pool ASA:
Torger Lien, president and CEO, phone +47 6752 8070/+47 9188 8112
Lars Galtung, vice president communications, phone +47 6752 8080/+47 9821 4812