Adjustment of base collateral margin parameters for N2EX
Lysaker, 13 October 2010
NASDAQ OMX Commodities hereby notifies the members that the margin parameters, affecting the daily margin call, will be adjusted.
The adjustments are in accordance with the clearing rules.
The margin parameters for the base collateral will be changed accordingly (current margin parameters):
Volatility Price Buy: £75 (£90)
Volatility Price Sell: £125 (£150)
With the decreased margin parameters, the daily overnight position limit will automatically increase and the Base Collateral level remain unchanged.
Members wishing to withdraw collateral may do so by reducing their base collateral. This must take place through a dialogue with the clearing house using the following email: credit@nasdaqomx.com
The volatility matrix was updated 5 October, ref. exchange and clearing information sent out 4 October.
The updated margin parameters will have impact on the calculation of the daily margin call for which collateral must be posted by 11.00 UK London time Thursday 14 October 2010.
For further information, please contact NASDAQ OMX Commodities:
Kjetil Bundli, Risk Analyst Commodities, phone +47 6710 8441/+47 9900 3690
Camilla Christiansen, Director Credit Risk, phone +47 9181 4112
Trond Svensgaard, Head of Clearing Risk Management Commodities,
phone +47 6710 8412/+47 9012 3679
Press contact:
Trine Fersnes Riccardi, Communications Manager, Corporate Communications, NASDAQ OMX Commodities,
phone +47 6752 8080/+47 9574 7497
About N2EX
N2EX is the name of the UK energy market offering from NASDAQ OMX Commodities and Nord Pool Spot. NASDAQ OMX Stockholm AB is the authorised clearing house.
The web site, www.n2ex.com, provides market information and documentation for the UK power market.
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand name for offerings related to commodities within the NASDAQ OMX Group, Inc and is not a legal entity. NASDAQ OMX Commodities provides access to the world’s largest power derivatives exchange and one of Europe’s largest carbon markets, through Nord Pool ASA. Nord Pool ASA is a commodity derivatives exchange authorised by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. NASDAQ OMX Commodities also provides clearing services through NASDAQ OMX Stockholm AB and its Norwegian branch NASDAQ OMX Oslo, acting as an authorised clearing house. N2EX is the brand name for NASDAQ OMX Commodities’ and Nord Pool Spot AS offering in the UK power market and NASDAQ OMX Stockholm AB is the authorised clearing house.
NASDAQ OMX Commodities has more than 370 members from almost 20 countries covering a wide range of energy producers, consumers and financial institutions.
For more information about NASDAQ OMX Commodities, visit www.nordpool.com and www.nasdaqomx.com/Commodities.
About Nord Pool Spot
Nord Pool Spot runs the largest market for electrical energy in the world, offering both day-ahead and intraday markets to its participants. 330 companies from 20 countries trade on the exchange. The Nord Pool Spot group has offices in Oslo, Helsinki, Stockholm, Fredericia (Denmark), Tallinn and London. Nord Pool Spot is owned by the Nordic transmission system operators. In 2009, the group had a turnover of 288 TWh representing a value of EUR 10.8 billion.
For more information, visit www.nordpoolspot.com.
This document is being directed solely at and may only be communicated to persons: (i) who have professional experience in matters relating to investments as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO") or, (ii) who are high net worth companies, unincorporated associations and trustees of high value trusts within Article 49(2)(a)-(d) of the FPO, or (iii) to whom it may otherwise be lawful to distribute it (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.