Financial market

Cash-settled power futures contracts

An N2EX referenced and cash-settled futures market with a full range of clearing services opened for trading 31 January 2011.

The UK power futures contracts are listed and traded on the commodity derivative exchange
NASDAQ OMX Commodities Europe.

NASDAQ OMX Commodities Europe, owned by NASDAQ OMX, is the world’s largest power derivatives exchange with more than 350 members from over 15 countries.

Trading days will follow the UK banking calendar, and the N2EX referenced futures contracts will be traded in pound sterling.

Contract types

The contract types are cash-settled pound sterling UK power futures listed for weeks, months, quarters and seasons (summer and winter).

The contracts are cleared by NASDAQ OMX Stockholm AB and NASDAQ OMX Oslo branch. Electronic trading is conducted on the proven CLICK Trade/SECUR PI platform.

Margining of UK power derivatives

The UK power derivatives are margined by the same method as the EUR denominated commodities derivatives.
For information about the margining of UK power derivatives and other commodities derivatives, please visit:
www.nasdaqomxcommodities.com/clearing/riskmanagement/margining

Membership alternatives

Existing members at NASDAQ OMX Commodities Europe financial market is able to trade and clear UK power futures contracts under their existing memberships, but need to establish new bank accounts for settlement and collateral arrangements in the United Kingdom.

Members of N2EX must sign separate membership agreements for trading and clearing of the UK power futures contracts.

There are three membership alternatives for N2EX participants:

1) As a non-clearing member through the Nord Pool general clearing member (GCM) network
2) As a client of a GCM
3) Direct membership

For more information about how to become a member and the membership agreements, please contact our sales and marketing representatives:

Nick Wallis, phone +44 75841 46103,nick.wallis@nasdaqomx.com

Khadija Kapasi, phone +44 207 0658 133, khadija.kapasi@nasdaqomx.com

Knut Rabbe, phone +47 6752 8032, knut.rabbe@nasdaqomx.com

Peter Böhmwalder, phone +43 664 263 7197, peter.boehmwalder@nasdaqomx.com

Jukka Nygren, phone +43 664 263 7197, jukka.nygren@nasdaqomx.com

Staffan Friberg, phone +46 8 405 6293, staffan.friberg@nasdaqomx.com