London, 2013-05-28 14:56 CEST (GLOBE NEWSWIRE) --
As communicated on March 1st NASDAQ OMX will be making changes to its European clearing business that will impact all N2EX members. These changes were further detailed in an Exchange Information published on March 23rd 2013: (Change of N2EX counterparty – member information update). These changes are being made as a direct result of the European Market Infrastructure Regulation (“EMIR”) which came into force on 16 August 2012.
In preparation for these changes NASDAQ OMX has decided to delist the longer-dated N2EX Physical Products: EFA Week Base, EFA Week Peak and EFA Month Base UK Power.
Please note that these changes do not affect any of the UK Power Futures products listed at NASDAQ OMX.
Member impact is expected to be minimal given that these contracts have not been traded for several months and that the current open position in these products is zero. However, please take note of the reduction to clearing availability as set out below and also please note that EFA Month Base is already unavailable.
Week Base (WB)
Tradable up to June 21st at 19:00
Week Peak (WP)
Tradable up to June 21st at 19:00
Month Base (MB)
Tradable up to May 24th at 19:00
For further information, please contact N2EX:
Emma McKiernan, Client Relationship Manager, +44 7887 744 700, emma.mckiernan@npspot.com
Jason Hall, UK Business Manager: +46 8405 7848, jason.hall@nasdaqomx.com
Media contact:
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 jointly operated by Nord Pool Spot and NASDAQ OMX Commodities. NASDAQ OMX Clearing is the authorised clearinghouse.
The website www.n2ex.com provides market information and documentation for the UK power market.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its members. 350 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2012 the group had a total turnover of 432 TWh, which includes the auction volume in the UK market N2EX.
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.