Membership fee campaign to coincide with the current liquidity drive
London, 20 May 2010
N2EX, the UK power market set up by NASDAQ OMX Commodities and Nord Pool Spot, announces a major membership initiative to further boost the current liquidity drive.
N2EX will charge no annual clearing membership fee and will provide a 50% reduction to the annual trading membership fee for 2010. This will apply to all members joining N2EX before 1 September 2010 as well as to all existing members.
The primary objective of N2EX is to open up the UK wholesale markets to a wider spectrum of participants. The aim is to provide a deep and consistent liquidity pool to all members on an equal basis so that by choosing direct membership participants will instantly get access to the core liquidity in the UK wholesale power market.
“Our core members are committed to the current liquidity drive by presenting impressive volumes on N2EX. This is an important first step towards establishing a solid and credible reference price for the UK power market”, says Mikael Lundin, CEO of Nord Pool Spot.
This liquidity is proving to be the key determinant for small market entrants making the significant decision to enter the membership process at N2EX.
“By offering a significantly reduced sign up fee for this year, we hope to make direct membership at N2EX a realistic option for as many UK participants as possible”, says Geir Reigstad, senior vice president, NASDAQ OMX Commodities.
Members N2EX:
E.ON Energy Trading SE, RWE Supply & Trading GmbH, Statkraft Markets GmbH, Vitol S.A, Royal Bank of Scotland PLC, EDF Trading Ltd., SSE Energy Supply Ltd., Morgan Stanley Capital Group Inc., Merrill Lynch Commodities Ltd., Deutsche Bank AG, Danske Commodities A/S, Gazprom Marketing & Trading Ltd., First Hydro Company and Accord Energy Limited.
For further information, please contact N2EX:
Geir Reigstad, senior vice president, NASDAQ OMX Commodities, phone +47 9084 6735
Michael Lundin, CEO, Nord Pool Spot AS, phone +47 6710 9120
Press contacts:
Trine Fersnes Riccardi, corporate 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 authorized clearinghouse.
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. NASDAQ OMX Commodities also provides clearing services through NASDAQ OMX Stockholm AB and its Norwegian branch NASDAQ OMX Oslo, acting as an authorized clearinghouse. NASDAQ OMX Commodities has more than 380 members from over 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 287 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.
