Subject to testing and regulatory approval, Nasdaq Commodities is announcing changes to its Trading and Clearing Rules, effective October 16, 2017.
These Appendices are affected:
Delisting of Nordic Electricity Base Year DS Future contract – ENOYR-27
The decision to delist the Nordic Base Year DS Future contract and reduce the listing of Nordic Electricity DS Futures contracts mentioned below is a natural step to further improve the liquidity in the futures products to avoid fragmentation and concentrate the liquidity. The migration towards futures has been stable since the market maker transfer in November 2016. Year to date (per week 38, 2017) 86.2% of the liquidity is traded and cleared in the futures contracts. Nasdaq Commodities has therefore decided to delist the below contract for trading and clearing effective October 16, 2017:
Nordic Electricity Base DS Futures - ENOYR-27
This product has not been traded and has no Open Interest. All other DS Futures contracts including year 2026 with Open Interest will not be delisted. However, Nasdaq is exploring alternative solution to assist market participants in converting the OI from DS Futures to Futures contracts.
Nasdaq is closely monitoring the outcome of the EMIR review and continue to support the energy industry in their requirements of amending Annex 1 of the EMIR Regulation 153/2013 (section 2.1h) and allowing the use of bank guarantees as collateral by Non-Financial Counterparties (NFCs) without a requirement of posting further collateral.
Reduction of Nordic Electricity Base yearly DS Futures contracts
There will be no further listing of Nordic Electricity Base yearly DS Future contracts. In addition there will be no further listing of Nordic EPAD Electricity Base yearly DS Future contracts.
Last yearly DS Futures contracts available for trading and clearing are:
Delisting of Ferrous contracts:
The following contracts will be delisted:
All the above mentioned contracts for delisting are from today suspended for trading and clearing.
For updated rulebooks and appendices please see:
For further information, please contact Nasdaq Commodities:
Mette Steinsland, AVP Head of Legal, Nasdaq Commodities, phone +47 6752 8071, firstname.lastname@example.org
Anne-Marit Rudby, Product Director Commodities, +47 91580323, email@example.com
Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, firstname.lastname@example.org
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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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