Changes to the auction procedure and reduced EFA month contract fee
Lysaker, 12 November 2010
N2EX hereby informs its members of some structural changes to the auction procedure, a reduction to the EFA month contract fee for OTR clearing and improved data provision.
Changes to auction procedure
An increase in the maximum block size from 50 MW to 100 MW is to be implemented from November 15th for a one month trial period.
Staggered weekend auction
The weekend auction will be staggered by 15 minutes. The Saturday auction will close at 0915, the Sunday auction will close at 0930 and the Monday auction will close at 0945.
The publication of prices and distribution of participant schedules will take place within 5 to 7 minutes after the auction is closed. A full schedule document can be found on the N2EX website: http://www.n2ex.com/physicalmarket/Products/ - Full overview of the products.
EFA month and EFA week fees
The EFA month contract fee for OTR clearing is to be reduced to 0.6p / MWh from December 1st.
The EFA week contract fee for OTR clearing will remain at 1p / MWh.
Improvements to the data provision
Full prompt market data will be included on the FTP site from December 1st. (ftp.n2ex.nordpoolspot.com)
The auction bid/offer curve data is now available on the FTP site and updated daily at 2pm.
If you have any questions, please feel free to contact N2EX trading desk.
For further information, please contact N2EX:
Trading desk, phone +47 6710 9190v
Press contacts:
Trine Fersnes Riccardi, Director of Communications, NASDAQ OMX Commodities,
phone +47 6752 8080/+47 9574 7497
Siw Hauge, Director Communications, Nord Pool Spot AS, phone + 47 9061 5992
About N2EX
N2EX is the name of the UK power 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 the NASDAQ OMX Group’s worldwide suite of commodity related products and services. The NASDAQ OMX Commodities offerings include power, natural gas and carbon emission markets and clearing services. NASDAQ OMX Commodities is a trademark of the NASDAQ OMX Group, Inc.
NASDAQ OMX Commodities Europe is a secondary name of NASDAQ OMX Oslo ASA, and is authorised as a commodity derivatives exchange by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority.
The clearing house, NASDAQ OMX Stockholm AB, is authorised and supervised as a multi-asset clearing house by the Swedish Financial Supervisory Authority in Sweden as well as authorised to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
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, please visit www.nasdaqomxcommodities.com.
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.