About N2EX

Following an extensive tender process, NASDAQ OMX Commodities (NOMXC) and Nord Pool Spot AS (NPS) have been selected by The Futures & Options Association (FOA) to provide market and clearing services for the UK wholesale power market.

N2EX is not a legal entity, but the name of the market which Nord Pool Spot and NASDAQ OMX Commodities operate in the UK.

NPS is the global leader in the creation and operation of physical power markets with a tradition of success dating back to 1993. NASDAQ OMX is a pioneer in exchange development and technology, and currently supplies exchange technology to over 60 financial marketplaces in over 50 countries.

N2EX, the UK market offering, is a marketplace for physical UK power contracts. A platform for financial futures contracts will be launched during the autumn of 2010.

• The physical market is operated jointly by NPS and NOMXC
• The futures market will be operated by NOMXC

The UK power futures contracts will be traded on the Nordic power exchange Nord Pool, which is the holder of the exchange licence for the UK financial derivatives exchange trading.

The UK physical power market solution, including technical trading and clearing, a regulatory framework, clearing procedures and Elexon approvals of clearing house requirements, was launched on the 12 January 2010.

The N2EX offering as originally accepted by the FOA, has been further developed and tailored to better suit the UK power market needs during the last months, following many valuable and appreciated discussions between FOA members and N2EX.

For further information, please see status market launch - N2EX letter to transitional market council 28 August