Oslo and London – Nasdaq Commodities have cleared their first trades from Mercuria’s Sponsored Access service in European Power and Gas. Financially settled contracts in UK and German Power as well as TTF, NCG and NBP Gas have all been cleared via the platform during February and March. Mercuria is one of the world’s largest independent commodities and energy trading firms.
As previously announced, Nasdaq Commodities greatly expanded their product offering during 2016 with the addition of approximately 1,000 instruments across the full spectrum of European Power & Gas markets. The new products are accessible to all Nasdaq Commodities customers and were designed to meet the clearing needs of Mercuria’s Sponsored Access service.
The new instruments are cash settled futures without cascading or physical delivery and have been labelled ‘Monthly DS Futures’. Cash settlement occurs on a monthly basis during the delivery period and is timed to coincide with the settlement of the corresponding physical power and gas contracts in the bilateral market: i.e. most commonly the 20 th calendar day of the month following delivery.
A full product description is available at the following link: http://www.nasdaqomx.com/commodities/markets
“We are very pleased that our joint initiative with Nasdaq is now trading actively across multiple markets and contracts,” said Chris Harding, Managing Director at Mercuria’s FCA-regulated unit in London. ‘‘Sponsored access clients are able to access physical energy market liquidity in Mercuria’s name, and receive a cleared position on Nasdaq from us in return on an automated basis. We look forward to growing the trade flows through this joint venture rapidly as clients look for Mercuria to provide cleared risk for them, and as the EMIR Clearing Regulation nears implementation.”
Georg Aasen, Head of Nasdaq’s Oslo-based Commodities exchange Nasdaq Oslo ASA, commented: “We are committed to innovation in the European Power and Gas sector. Together with Mercuria we have created an elegant link between the bilateral physical market and Nasdaq’s regulated environment. We believe that this will offer greater choice to customers as well as increase efficiency and liquidity within European energy markets.”
The instruments are listed on Nasdaq Oslo ASA, Nasdaq Stockholm AB and Nasdaq Clearing AB.
For further information, please contact Nasdaq Commodities Les Male, Head of Sales Commodities Europe, phone +44 20 3753 2186/ +44 7809 845980, les.male@nasdaq.com
Media enquiries:
Matthew Lauer, Corporate Communication Mercuria, phone +1 703 4631841, mlauer@mercuria.com Sara Aadnesen, Director Corporate Communications, phone +47 9060 0759, sara.aadnesen@nasdaq.com
About Mercuria
Founded in 2004, Mercuria is one of the world’s largest independent energy and commodities trading groups. Mercuria supplies products from areas of surplus to areas of need, and optimizes the commodity supply chain for its counterparts. The Company’s operations span five continents and engage more than fifty countries with principal commercial hubs in Geneva, Beijing, Shanghai, Singapore, London and Houston. More than 1,000 people operate from offices worldwide to sustain the group’s extensive business reach with their market knowledge, diversity, and experience. The group, primarily focused on energy, is present all along the commodity value chain with activities forming a balanced combination of commodity flows and strategic assets. Mercuria is a leader in the trading of physical energy products ranging from crude oil, refined petroleum products, petrochemicals, natural gas, LPG, power, emissions, and coal. Mercuria is also active in iron ore and metals/ concentrates. Worldwide, their activities range from sourcing, supplying, trading, and financing to investment, logistics storage and blending. www.Mercuria.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 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 Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing
Nasdaq Clearing is the trade name of Nasdaq 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
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither The Nasdaq Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
