Nasdaq Commodities is pleased to announce the upcoming launch of a range of new European power and gas markets. The initiative is introducing a new era for Nasdaq Commodities as we mark our footprint throughout the major power and gas markets in Europe.
The offering consists of listing for trading and clearing European power and gas derivatives on Nasdaq Oslo ASA and Nasdaq Clearing AB, subject to successful testing and regulatory approval.
In power, the offering includes French, Belgian, Spanish and Italian contracts in addition to new contracts on Nasdaq Commodities’ existing German, UK and Dutch derivatives offering. In gas, the offering includes Dutch TTF, German NCG, German Gaspool, UK NBP, French Peg Nord, French TRS and Belgian ZEE.
The products will be monthly cash settled DS Futures with no physical delivery and no cascading. The monthly cash settlement will occur on the same date as the settlement of physical power and gas i.e. the 20th calendar day the following month or the 10th bank day the following month depending on product. The new products enable participants to match the settlement flows between cash settled derivatives and physical settled power and gas.
The contracts will be available for trading in the electronic orderbook or reported to the exchange as Block Trades according to the Nasdaq Commodities Rulebook. The offering will be available to all Nasdaq Commodities’ clients and demonstrates Nasdaq´s capability to respond to client demand for an entirely new and innovative type of exchange traded and cleared contract.
“We are incredibly satisfied to have reached this milestone,” said Bjørn Sibbern, Global Head of Nasdaq Commodities. ”Launching pan-European energy contracts has been part of Nasdaq’s strategy from the start and that we now will launch 14 new power and gas markets testifies to Nasdaq’s commitment in the energy space. Our comprehensive new energy suite also gives proof of how we want to contribute to an ever improving European energy market, leveraging our technology and market expertise to create new products for the future of energy trading.”
For further information, please contact Nasdaq Commodities:
Georg Aasen, VP Nasdaq Commodities and Head of Nasdaq Oslo ASA,
phone + 47 6752 8076, georg.aasen@nasdaq.com
Arman Mohii, Product Director European Power and Options,
+46 8 405 7850 /+46 73 449 7850, arman.mohii@nasdaq.com
Mattias Kronwall, Product Developer Clearing Management,
phone +46 8 405 6617 / +46 73 449 6617, mattias.kronwall@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
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