As announced in Exchange and Clearing Information 18/16 Nasdaq Commodities will, subject to testing and regulatory approval launch 7 new European power and 7 new gas markets in UK, Germany, France, the Netherlands, Belgium, Italy and France. Following this launch, Nasdaq Commodities will de-list for trading and clearing the following contracts:
- UK Natural Gas Futures,
- UK Electricity Peak Futures,
- Dutch Electricity DS Futures,
- German EPADS DS Futures in Belgium, France and Netherlands.
Further, Nasdaq Commodities is listing for trading and clearing one additional freight route (C3).
This is to inform you of upcoming amendments to the Trading and Clearing Rules of Nasdaq Commodities markets that will come into effect on the 25 April 2016:
The following documents are affected:
- Joint Trading and Clearing Appendix 1 – Definitions
- Joint Trading and Clearing Appendix 2 – Contract Specifications
- Joint Trading and Clearing Appendix 7 – Fee List
Joint Trading and Clearing Appendix 1 – Definitions
Due to the new European Power and gas contracts the following terms have been added in the definitions list; Daily Contracts, Month Contract, Monthly Settled, Quarterly Contracts, Seasonal Contracts, Week End Contracts, Weekly Contracts, Working Day Week Contracts, Yearly Contracts and European Trading Calendar.
Joint Trading and Clearing Appendix 2 – Contract Specifications
The new European power and gas contracts are Monthly DS Futures and references to this contract type has been added under chapter 4 Determination of Contract Base and Fix and 5 Contract Events under Part A of the Contract Specifications (p. 7-11).
Under Part B of the Contract Specifications the specific definitions to the new European power and gas contract has been added under chapter 1 and 2 (p. 14-17).
The quotation lists of the new European power and gas contracts have been added under sections 1.4 and 2.1 of Part C (p. 39-42).
In addition, the freight route C3 has been added under section 5 (p. 43) and the de-listed contracts have been removed from the list.
The individual contracts specifications to the new European power and gas contracts have been added to Part D under the following references:
1.1 Belgian Power Monthly DS Future - EBEM (p. 49)
1.6 Dutch Power Monthly DS Future – ENLM (p. 59)
1.7 French Power Monthly DS Future - EFRM (p. 61)
1.37 German Power Monthly DS Future – EDEM (p. 124)
1.38 Italian Power Monthly DS Future – EITM (p. 127)
1.57 Spanish Power Monthly DS Future - EESM (p. 176)
1.65 UK Power Monthly DS Future – EUKM (p. 181)
2.1 Belgian Zeebrugge Natural Gas Monthly DS Future – ZEEM (p. 202)
2.2 Dutch TTF Natural Gas Monthly DS Future - TTFM (p. 205)
2.3 French PEG NORD Natural Gas Monthly DS Future - PNOM (p. 207)
2.4 French TRS Natural Gas Monthly DS Future – TRSM (p. 209)
2.5 German Gaspool Natural Gas Monthly DS Future - GPOM (p. 211)
2.6 German NCG Natural Gas Monthly DS Future - NCGM (p. 212)
2.7 UK NBP Natural Gas Monthly DS Future - NBPM (p. 214)
The freight route C3 had been added to 5.1 and 5.10 (p. 227 and 246) and the de-listed contracts have been removed from sections 1.1-1.3 (DS Futures Dutch power) 1.28-1.30 German EPADS DS Futures in Belgium, France and Netherlands, 1.51-1.58 (UK Power Peaks) and 2.1-2.5 (UK Nat gas).
Joint Trading and Clearing Appendix 7 – Fee List
The Fee list has been amended to reflect the changes described above in addition to the following editorial changes:
EUR Electricity heading is replaced with new market names dividing energy products for Nordic Power, European Energy and UK Energy into separate sections where German and Dutch Electricity and Renewables are included in European Energy (Chapter 2 Annual Fees and 3 Variable Fees).
NCM membership fee is covered by Exchange Members Fee and is therefore removed as a separate point.
Under Variable Fees in section 3.1 ETS / MTS transactions and 3.2 Block Trades and Exchange Future for Swap (EFS) / Exchange Future for Physical (EFP) the introduction of new power and gas Monthly DS Futures Contracts for European and UK Energy markets and listing of Dry freight Futures and Option Contract C3 are reflected.
Endnote 2 added to inform about availability of Liquidity provider programs as announced by the Exchange or Clearinghouse and additional information for options is replaced with endnote 5.
New section 4.2 is included to reflect fees for TT Next Gen platform and preferred third party clients for Commodities.
For updated rulebooks and appendices please see:
http://www.nasdaqomx.com/commodities/Marketaccess/legalframework/upcoming-changes-to-rules
For further information, please contact Nasdaq Commodities:
Mette Steinsland, Senior Associate General Counsel, phone +47 6752 8071/+47 4003 5118, mette.steinsland@nasdaq.com
Arman Mohii, Product Director European Power and Options, +46 8 405 7850 /+46 73 449 7850, arman.mohii@nasdaq.com
Hanne B. Johansson, Head of Commodities Sales Global, +47 67 10 85 20, freight@nasdaq.com
Media contact:
Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com
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About Nasdaq Commodities
Nasdaq Commodities is the brand name for the worldwide suite of commodity related products and services offered by Nasdaq. The Nasdaq Commodities offerings include power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services.
Nasdaq Oslo ASA is the commodity derivatives exchange authorized by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with Nasdaq Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing
Nasdaq Clearing is the trade name of Nasdaq Clearing 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, visit www.nasdaqomx.com/commodities
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