LYSAKER, November 20, 2011 -- The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) today announced the launch of its UK power futures market. This platform will operate under the N2EX brand, the current UK marketplace for physical power contracts and will open for trading on January 31 2011.
The UK power futures contracts will be listed and traded on the commodity derivatives exchange NASDAQ OMX Commodities Europe. The contracts will be cash-settled pound sterling futures with a full range of clearing services delivered by NASDAQ OMX Stockholm AB and the NASDAQ OMX Oslo.
The N2EX day-ahead auction is the reference price for the UK power futures. N2EX is the marketplace for wholesale UK power contracts operated by NASDAQ OMX Commodities and Nord Pool Spot AS.
Geir Reigstad, Senior Vice President, NASDAQ OMX Commodities, said: “Since the launch of N2EX in January 2010, volumes have increased steadily throughout the year. This positive development bodes well for the N2EX branded power futures market. When the futures market opens on January 31, we will be able to offer our members a superior technical trading platform with products listed on the world’s largest power derivatives exchange. The members will have access to a complete offering with both physical and financial products. We expect the two markets to grow hand in hand.”
NASDAQ OMX Commodities Europe holds a Norwegian exchange license and operates the Nordic power derivatives market and one of Europe’s largest carbon exchanges on one trading platform. NASDAQ OMX Commodities Europe is fully owned by the NASDAQ OMX Group.
Media contacts:
NASDAQ OMX Commodities
Geir Reigstad + 47 9084 6735
geir.reigstad@nasdaqomx.com
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 follow NASDAQ OMX on Facebook (http://www.facebook.com/nasdaqomx) and Twitter (http://www.twitter.com/nasdaqomx).
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 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.
For more information, please visit www.nasdaqomxcommodities.com.
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