This is to inform you about the upcoming changes to the Trading and Clearing Appendix 7 – Fee List, effective January 1, 2016. The Fee List has been amended to reflect adjustments to the variable clearing fees for German Electricity Contracts. Further there will be changes to the annual and variable clearing fees for Seafood Contracts in addition to changes to operational fee charges.
Changes to the Joint Trading and Clearing Appendix 7 – Fee List
EUR Electricity
Section 3.1 and 3.2 are reflecting amendments to the German Electricity fee structure where section 3.1 for ETS / MTS transactions is introducing a separate clearing fee for German Electricity Contracts of 0.0045 EUR/MWh and section 3.2 Block Trades and Exchange Future for Swap (EFS) / Exchange Future for Physical (EFP) is introducing a combined trading and clearing fee for German Electricity Contracts of 0.0045 EUR/MWh.
Further introducing for both section 3.1 and 3.2 a combined trading and clearing fee for German Electricity Future/DS Future standard combination (COMBO) orders between the equivalent underlying contracts reflecting the same delivery period. Pending further notice, Nasdaq is planning to list these COMBO orders during January 2016. The reduced fee will be as follows:
- Combined Trading and Clearing Fee, Future position: 0.002 EUR/MWh
- Combined Trading and Clearing Fee, DS Future position: None
The footnote for Nordic Electricity Clearing Fees has been amended to reflect that volume rebates will be aggregated per NCM membership or individually per segregated account belonging to the same legal entity.
Section 3.4 Text edits replacing direct membership with Clearing Clients and Clearing Members.
Seafood
Section 2.2.1 includes Seafood in the combined Clearing Fee for GCM and CM/CR giving access to EUR Electricity, GBP Electricity and Gas, El-Cert and Renewables. In addition there is an increase of the Small Clearing Customer Fee.
Section 2.2.2 Moving Seafood to individual chapter, see explanation of section 2.2.4
New section 2.2.4 is introducing annual clearing fees for access to the Seafood market for both General Clearing Members and Clearing Members.
Section 3.3.is introducing new variable clearing fees for Seafood contracts and removing the quarterly volume rebate.
Operational Fee Changes
Section 4.1 Trading license fees changed for third party clients
Section 4.2 Pre trade Risk Management (PRM) /TradeGuard fee reductions and name change
Section 4.4 New endnote specifying that there will be no charge for a single FTP account if the member has only one Clearing Workstation user.
Section 5.6 Removal of fee for call back of on-demand bank guarantees
F or further information, please contact Nasdaq Commodities:
Mette Steinsland, Senior Associate General Counsel, phone +47 6752 8071/+47 4003 5118, mette.steinsland@nasdaq.com
Arman Mohii, Product Director European Power and Options, +46 8 405 7850 /+46 73 449 7850, arman.mohii@nasdaq.com
Erik Flingtorp, Head of Seafood, phone +47 9594 1794, erik.flingtorp@nasdaq.com
Clearing Operations, phone +46 405 68 80, clearing@nasdaq.com
Media contact:
Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com .
About Nasdaq Commodities
Nasdaq Commodities is the brand name for the worldwide suite of commodity related products and services offered by Nasdaq. The Nasdaq Commodities offerings include power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services.
NASDAQ OMX Oslo ASA is the commodity derivatives exchange authorized by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing
Nasdaq Clearing is the trade name of NASDAQ OMX Clearing 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.
For more information, visit www.nasdaqomx.com/commodities
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