Source: Nasdaq Commodities

no 53/17 Delisting of Nordic Electricity DS Future and Ferrous contracts and reduction of Nordic Electricity DS Future year contracts

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:

  • Joint Trading and Clearing Appendix 2 - Contract Specifications
  • Joint Trading and Clearing Appendix 7 – Fee List

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:

  • Nordic Electricity Base Year DS Future - ENOYR-26
  • Nordic EPAD Electricity Base Year DS Future for all Swedish and Finnish areas - Year 2021.
  • Nordic EPAD Electricity Base Year DS Future for all Norwegian, Danish and Estonian areas - Year 2020.
  • Nordic EPAD Electricity Base Year DS Future for the Latvian area - Year 2019.

 

Delisting of Ferrous contracts:

The following contracts will be delisted:

  •  Iron Ore Futures and Options
    • CHN62FE; TSI CHN62FE, CFR China, 62% Fe Fines.
  • US Shredded Scrap Steel Futures
    • USSH; TSI US Shredded Steel Scrap Index - (ISRI Code 210 & 211).
  • US Hot Rolled Coil (HRC) Futures
    • USHRC; The Steel Index (TSI) US domestic hot rolled coil, FOB Midwest mill.
  • ASEAN Hot Rolled Coil (HRC) Futures
    • ASEHRC; The Steel Index Hot Rolled Coil, ASEAN imports, CFR Singapore port.
  • Coking Coal Futures
    • COKAUS; The Steel Index (TSI) Premium hard coking coal, FOB East Cost Australia Port.

All the above mentioned contracts for delisting are from today suspended for trading and clearing.

 

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, AVP Head of Legal, Nasdaq Commodities, phone +47 6752 8071, mette.steinsland@nasdaq.com

Anne-Marit Rudby, Product Director Commodities, +47 91580323, anne-marit.rudby@nasdaq.com

 

Media contact:

Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com

 

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets.  As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.

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

The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither The Nasdaq Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.