N2EX rulebook update
Lysaker, 22 March 2011
An updated N2EX rulebook is available and will come into force on 5 April 2011.
The main feature of the updated rulebook is to support the launch of the N2EX Spot Market. The new Spot Market regulations, with reference to trading appendix 2c, are substantially similar to those applicable to the Prompt Market.
The product specifications of the joint trading appendix 3/clearing appendix 2 has also been updated with a new section on the Spot Market.
A new section 9 of the general terms of the clearing rules introduces a new measure called “Trade Restrictions”, to enable the Clearinghouse to set restrictions on certain participant’s trading activity. Participants who are granted access only to the Spot Market will, for example, be subject to a corresponding trade restriction.
In the general terms of the clearing rules most provisions relating to delivery and Energy Contract Volume (ECV) notifications have been moved to section 11, and a new section 5.2 regarding energy accounts has been introduced.
A few other minor changes and clarifications have been made throughout the N2EX rulebook to support the above-mentioned changes and for general clarification purposes.
The updated rulebook is available on www.n2ex.com.
For further information, please contact N2EX:
Eivind Grimsø Moe, Legal Counsel, NASDAQ OMX Commodities,
phone +47 6752 8084/+47 9112 0355
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.