N2EX spot market launched
Lysaker, 5 April 2011
N2EX is pleased to announce that the intraday (spot) market was successfully launched at 07.00 GMT (08.00 CET) 5 April 2011.
The N2EX physical market offering now consists of the day-ahead auction, and the continuously traded prompt and spot markets. This provides market participants with access to a complete offering for trading both short-term and longer term physical power contracts. All participants have instant access to N2EX’ centralized trading, clearing and notification services and N2EX therefore reduces barriers to entry and counterparty risk for all UK market participants.
“We are proud to complete the market offering on N2EX in the UK with the spot market launch, and we will continue our ambitious growth strategy in the UK market. We focus on building market liquidity, efficiency and transparency,” said Hans Randen, Director European Integration of Nord Pool Spot.
The first contract traded on the N2EX spot market was 4 MWh on a 4 hourly block at 07.57 GMT (08.57 CET) 5 April 2011.
The spot market is a continuous market open from 00.05 to 23.45 every day where adjustments to trades done on the day-ahead auction or prompt markets are made. Most products from the prompt market roll-over to the spot market approximately 48 hours prior to delivery, thereby enabling participants to trade all N2EX contracts until right before delivery commences.
For further information, please contact N2EX:
Press contacts:
Stina Johansen, Communications Manager, Nord Pool Spot AS, phone + 47 9165 0603
Trine Fersnes Riccardi, Director of Communications, Corporate Communications,
NASDAQ OMX Commodities, phone +47 6752 8080/+47 9574 7497
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 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 the trade name of NASDAQ OMX Oslo ASA which is authorized as a commodity derivatives exchange by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority.
All trades with NASDAQ OMX Commodities Europe are subject to clearing with NASDAQ OMX Stockholm AB, which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
NASDAQ OMX Commodities has more than 350 members from over 15 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. Nearly 340 companies from 18 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 2010, the group had a turnover of 307 TWh representing a value of EUR 18 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.