The Market Conduct Rules for Nord Pool Spot AS and Nord Pool ASA’s financial markets have been revised.
The definition of inside information has been changed in line with the definition of inside information for commodity derivatives found in the Market Abuse Directive (MAD). The new definition implies that any information of a precise nature which has not been made public relating directly or indirectly, to one or more Listed Products/Instruments, and which market participants would expect to receive in accordance with accepted market practice will be inside information. Previously, inside information has been non-public information that would be likely to have a significant impact on prices in one or more Listed products/instruments. The new definition does not imply any material changes for the Nordic market as the disclosure requirements remain the same. However, outside the Nordic market the new definition allows that what will be considered inside information will evolve as market transparency increases.
In the Market Conduct Rules for Nord Pool Spot AS, there is also made a change in the prohibition of insider trading, implying that trading in Instruments to which the Inside Information does not relate is no longer prohibited. This is in line with the current Market Conduct Rules for Nord Pool ASA.
Some linguistic changes and restructuring of certain sections have been made. Most importantly, the definition of inside information and the disclosure requirements previously included in Enclosure 1 to the Market Conduct Rules has now been included directly in the Market Conduct Rules. The remaining enclosures have been renumbered accordingly.
For the Market Conduct rules for Nord Pool ASA, valid from 5 January 2008, please click here
For the Market Conduct rules for Nord Pool Spot AS, valid from 5 January 2008, please click here
Lysaker, 19 December 2008
For further information, please contact Nord Pool :
Christian Johan Giswold, Market Surveillance Adviser, Nord Pool, Phone +47 67 52 81 31, firstname.lastname@example.org
Hilde K. Rosenblad, Manager Compliance, Nord Pool Spot AS, Phone +47 67 52 80 30, email@example.com