The German Power Initiative that was launched on May 22 this year, with the aim at making the German power market more transparent, liquid and cost effective, continues to receive strong market support. NASDAQ OMX Commodities attained several records in September, the monthly figures show.
Highlights in September:
- New monthly record: 9.61 TWh (the previous record is from February 2012: 6.76 TWh)
- New daily record: 1.89 TWh on September 19
- Highest market share for a single day was 17% on September 19
Welcoming the new records Bjørn Sibbern, Head of NASDAQ OMX Commodities, said: “The last month clearly demonstrates our increasingly strong position in the German power market. Going forward we will continue to work with the market, members and brokers alike, to build the best solution for all participants. Again we invite more participants to benefit from our ongoing market maker, broker- and liquidity provider programs.”
To date, 10 liquidity providers, 5 brokers and 1 market maker have signed on, since NASDAQ OMX Commodities invited members to participate in March.
The German Power initiative is part of NASDAQ OMX’s overall commodities strategy to leverage its best in class technology platform and expand its presence in the three largest power markets in Europe.
NASDAQ OMX’s German product offering now includes German Power Futures and DS Futures contracts with six monthly, 8-11 quarterly and five yearly contracts, in addition to the daily and weekly futures contracts and European Style Options with monthly, quarterly and yearly expiration for German Power Futures and DS Futures.
EPADs (Electricity Price Area Differential contracts) have been offered since June and enable traders from Continental European power markets to hedge the basis risk between the German system price and neighboring price areas (FR, NL, CZ and BE) by trading the relevant EPADs.
For further information, please contact NASDAQ OMX Commodities: Arman Mohii, Director Central European Power and Options, phone +46 8 405 7850/ +46 73 449 7850, arman.mohii@nasdaqomx.com
Media contact: Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaqomx.com
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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 Clearing.
NOS Clearing ASA is the leading clearing house for the freight market and a specialist clearing provider to the commodities markets. The company is wholly owned by the NASDAQ OMX Group Inc. The clearinghouse, which is situated in Oslo, has more than 300 members.
NASDAQ OMX Clearing AB 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.
For more information, visit www.nasdaqomx.com/commodities
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