NASDAQ OMX Commodities is pleased to announce the introduction of a new trade reporting and clearing link from EFETnet to NASDAQ OMX. From today traders and brokers on the EFETnet platform can use EFETnet eXRP to report commodities trades to NASDAQ OMX Commodities for Block Trading and OTC clearing purposes. The products available today are Nordic Power, German Power, Dutch Power, UK Power, UK Gas, Electricity Certificates and Allowances.
Freight, Fuel Oil and Iron Ore will be made available in conjunction with the merger of NOS Clearing ASA into NASDAQ OMX.
“Working with NASDAQ OMX was a great experience and we’re really pleased to have them on board. EFETnet’s eXRP provides a vendor neutral third party trade reporting and clearing registration service to all major European clearing providers and brokers. The new link to NASDAQ OMX opens up for straight through Block Trade and OTC clearing registration at NASDAQ OMX, and adds a range of new commodities products to the EFETnet platform.” said Hugh Brunswick, Managing Director of EFETnet.
Gordon Bennett, managing director and global head of energy at Marex Spectron, said: “The EFETnet link to NASDAQ OMX is a vital piece of infrastructure that will prove crucial to our markets. We have a long history of developing and supporting technological and clearing initiatives to help reduce operational and counterparty risk for our clients, and we are therefore very proud to be the first broker to be ready with EFETnet to NASDAQ OMX.”
Welcoming the new solution Bjørn Sibbern, Head of NASDAQ OMX Commodities, said: “We are very pleased that we now can offer this new trade reporting link together with EFETnet. That traders and brokers on the EFETnet platform as of today can use the EFETnet eXRP to report commodities trades to NASDAQ OMX, is a great step forward for the entire community and another contribution in making our markets ever more efficient.”
For further information, please contact NASDAQ OMX Commodities: eXRP and EFETnet clearing link queries: Petter Marthinsen, Project Director, phone +47 6710 8516 , petter.marthinsen@nasdaqomx.com
Member Services (logons, passwords, FIX eXRP setup, etc.), phone +46 8 405 6660 , MS.Geniuminet@nasdaqomx.com
Technical support (technical queries and support), phone +46 8 405 6400, technicalsupport@nasdaqomx.com
Media contact: Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaqomx.com About NASDAQ OMX The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets including 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond average speeds, our technology drives more than 80 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to more than 3,300 listed companies worth $7 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
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.
NASDAQ OMX Clearing is the trade name of 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.
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.
For more information, visit www.nasdaqomx.com/commodities
About EFETnet EFETnet is a non-for-profit organisation founded in 2004 and is owned by EFET. EFETnet develops and offers advanced software for automating confirmation matching of trades based upon EFET's open energy and commodity industry standard (CpML).
EFETnet’s electronic Confirmation Matching (eCM) process is the established standard for confirmation matching in energy markets. Currently, over 60 major European energy traders use the system with additional participants joining each month. Since September 2011 EFETnet has moved its peer to peer eCM process to a central platform, the Central Matching Service (CMS). Using the CMS, a one-stop-shop solution, will simplify operation, reduce internal support effort and costs and improve business usage by offering a fully outsourced set of services for eCM and eXRP.
OTC Clearing Registration (eXRP Phase 1) went live in July 2012 and support for meeting regulatory reporting obligations is scheduled as soon as regulatory requirements are available. EFETnet is the costs haring vehicle for the energy trading industry and is a reliable partner with extensive knowledge and experience in the market.
For more information, visit www.efetnet.org
About Marex Spectron Marex Spectron is one of the world's largest privately held brokers of financial instruments in the commodities sector and a leader in facilitating trade in physical energy products, providing liquidity in commodity markets that are frequently difficult for clients to access or that require specialist knowledge to navigate successfully. It connects clients to any of the world's major commodity exchanges via state of the art networks, offering a full suite of services to trading companies who need to outsource infrastructure and support operations.
Marex Spectron aims to provide a global, integrated service enabling market participants to trade how they want to trade: by voice, on electronic platforms or through trading floors where possible.
Clients are predominantly commodity producers and consumers, banks, hedge funds, asset managers, brokers, commodity trading advisors and professional traders.
Marex Spectron is a member of the London Metal Exchange (where it is a Ring Dealer), the CME Group exchanges, ICE US, NYSE Liffe, ICE Futures, Eurex and NASDAQ OMX. It is over 600 market professionals, headquartered in London with offices across Europe, North America and Asia.
For more information, visit www.marexspectron.com
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