NASDAQ OMX Commodities and Nord Pool Spot today announce that the technical platform and clearing solution for the N2EX spot market will be released on the 15 September 2010. N2EX is the name of the UK power market operated by NASDAQ OMX Commodities and Nord Pool Spot.
The technical release in September marks the beginning of the second phase of product releases on N2EX according to the requirements set out by the Futures and Options Association (FOA). The spot market offers half hourly contracts with delivery periods covering the proceeding 48 hours. The spot market will open for trading when a sufficient number of market participants are ready to trade and clear the spot contracts.
Member testing of spot trading platform available now
Members who are interested in testing the systems for the spot market can contact email@example.com. Guidelines for the spot market, API documentation and detailed product specifications can be found on our website www.n2ex.com – quick links.
Scottish Power Energy Management Ltd., E.ON Energy Trading SE, RWE Supply & Trading GmbH, Statkraft Markets GmbH, Vitol S.A, Royal Bank of Scotland PLC, EDF Trading Ltd., SSE Energy Supply Ltd., Morgan Stanley Capital Group Inc., Merrill Lynch Commodities Ltd., Deutsche Bank AG, Danske Commodities A/S, Gazprom Marketing & Trading Ltd., First Hydro Company and Accord Energy Limited.
Lysaker, 9 July 2010
For further information, please contact N2EX:
Geir Reigstad, senior vice president, NASDAQ OMX Commodities, phone +47 9084 6735
Hans Randen, trading director, Nord Pool Spot, phone +47 9202 1326
Trine Fersnes Riccardi, corporate communications, NASDAQ OMX Commodities,
phone +47 6752 8080/+47 9574 7497
Siw Hauge, director communications, Nord Pool Spot AS, phone + 47 9061 5992
N2EX is the name of the UK power market offering from NASDAQ OMX Commodities and Nord Pool Spot. NASDAQ OMX Stockholm AB is the authorised clearing house.
The web site, www.n2ex.com, provides market information and documentation for the UK power market.
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand name for offerings related to commodities within the NASDAQ OMX Group, Inc and is not a legal entity. NASDAQ OMX Commodities provides access to the world’s largest power derivatives exchange and one of Europe’s largest carbon markets, through Nord Pool ASA. Nord Pool ASA is a commodity derivatives exchange authorised by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. NASDAQ OMX Commodities also provides clearing services through NASDAQ OMX Stockholm AB and its Norwegian branch NASDAQ OMX Oslo, acting as an authorised clearing house. N2EX is the brand name for NASDAQ OMX Commodities’ and Nord Pool Spot AS offering in the UK power market and NASDAQ OMX Stockholm AB is the authorised clearing house.
NASDAQ OMX Commodities has more than 370 members from 20 countries covering a wide range of energy producers, consumers and financial institutions.
About Nord Pool Spot
Nord Pool Spot runs the largest market for electrical energy in the world, offering both day-ahead and intraday markets to its participants. 330 companies from 20 countries trade on the exchange. The Nord Pool Spot group has offices in Oslo, Helsinki, Stockholm, Fredericia (Denmark), Tallinn and London. Nord Pool Spot is owned by the Nordic transmission system operators. In 2009 the group had a turnover of 287 TWh representing a value of EUR 10.8 billion.
For more information, visit www.nordpoolspot.com.