The introduction of new products and markets by each of the two market operators makes it desirable to have a clearer separation of functions for operational and regulatory purposes. Emerging markets will not necessarily be as complimentary as for the Nordic electricity market. Furthermore, the two market operators are no longer affiliates following NASDAQ OMX’ acquisition of NASDAQ OMX Commodities Europe (former Nord Pool ASA).
- The change will contribute to Market Surveillance being focused on what is specific for each market, to the benefit of all customers, says Camilla Berg, Head of Market Surveillance in Nord Pool Spot.
There will be close cooperation between the two units in order to maintain effective surveillance of the spot and financial markets, both individually and as a whole. Surveillance tasks related to e.g. the disclosure requirements will also be efficiently coordinated. The applicable rulebooks will also be amended to allow for the exchange of information necessary to secure close cooperation between the two units in the correlated markets. More information will be given about this later on.
The separation of the units is scheduled to come into effect during the third quarter of 2011.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its customers. 350 companies from 18 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2010 the group had a total turnover of 310 TWh, which includes the auction volume in the UK market N2EX.
Lysaker, 11 April 2011 10:00 CET
For further information, please contact Nord Pool Spot:
Stina Johansen, Communications manager Nordic, phone + 47 916 50 603