no 12/17 Upcoming Changes to Rulebooks Subject t

Subject to testing and regulatory approval, Nasdaq Commodities is announcing changes to its Trading and Clearing Rules, effective March 6, 2017.

The following rulebooks are affected:

• Clearing Rules - General Terms
• Joint Trading and Clearing Appendix 2 - Contract Specifications
• Joint Trading and Clearing Appendix 7 – Fee List

In the event of default it has been clarified that if a material default event occurs with respect to a General Clearing Member or Clearing Member holding Client Clearing Accounts, the Clearinghouse may enter into Close-Out Transactions between a Client Clearing Account and any other Clearing Account of the defaulting General Clearing Member or Clearing Member. For the avoidance of doubt, Clearing Rules General Terms section 8.3.2 d) has been amended with a clarification that the Clearinghouse has such access.

Clearing Rules General Terms, Section 3.4.5 is amended so that any Approved Settlement Bank is authorized to act in accordance with any communication or manual instruction (including, without limitation, by using email, fax or other authenticated electronic means) from the Clearinghouse, which may from time to time be used due to a SWIFT disruption or similar event (including, for the avoidance of doubt, an event related to the Clearinghouse’s systems).

The joint Trading and Clearing Appendix 7 Fee list, Section 4.2 is subject to amendments in layout and in the fees for the Preferred Third Party Client program, which is a strategic partner and third party vendor for technical connection to the exchange.

Under the joint Trading and Clearing Appendix 2 Contract Specifications , a clarification has been made to one of tanker routes TD3USD, Part D section 5.7 for Tanker Future and 5.14 for Tanker Option. The change is made in relation to the corresponding change from Baltic Exchange and will have effect on TD3USD contracts from and including 2018. The 2018 contracts is possible to trade today, but Baltic Exchange has made a change in «discharge port» and a small amendment in the size of VLCC ship (265 000 ton to 270 000 ton), from 1.1.2018.

Further the note to contracts P1A – P3A_AVG in Part C Quotation list section 5.1 is outdated and has been removed.

For updated rulebooks and appendices please see:

http://www.nasdaqomx.com/commodities/Marketac...s-to-rules

For further information, please contact Nasdaq Commodities:

Mette Steinsland, AVP Principal Associate General Counsel, phone +47 6752 8071, mette.steinsland@nasdaq.com

Julian Rezende, Senior Project Manager Specialist Commodities, phone +47 6710 8511, julian.rezende@nasdaq.com