The product launch was a result of participants asking for more specialised products. The WITHINDAY is a 12 hour contract running from 18:00 to 06:00 and the WEEKEND product is a 48 hour contract running from 06:00 Saturday morning to 06:00 Monday morning. The success of the launch was proven by good trading volumes on 1 April.
On the same day the clearing operations of Nord Pool Gas was transferred to Nord Pool Spot. The transfer ran according to schedule and the clearing operations was transferred on time. The new clearing operations entails a complete clearing system, daily settlement of contracts and a new collateral call calculation. It is the belief of both Nord Pool Gas and Nord Pool Spot that the new clearing solution will contribute to the continued increased liquidity of Nord Pool Gas.
Both the new products and the new clearing solution have been in operation for several days, and are well received by the market.
Lysaker, 6 April 2011 09:00 CET
For further information please contact:
Jacob Pedersen, CEO Nord Pool Gas, phone: +45 3142 5752
Morten Landrø, Risk manager Nord Pool Spot, phone: +47 67 10 91 51, +47 9222 3355