London, 2013-08-02 13:00 CEST (GLOBE NEWSWIRE) --
As previously communicated, NASDAQ OMX is making changes to its European clearing business that will impact all N2EX members.
As a result the N2EX Rulebook will be updated effective from Tuesday 3 September 2013.
These changes have been prompted by the European Market Infrastructure Regulation (EMIR) which came into force on 16 August 2012. As a result NASDAQ OMX will transfer the N2EX clearing business to another entity within the NASDAQ OMX group by way of a demerger.
The demerger is scheduled to take place on Tuesday 3 September 2013.
The changes we are making will allow NASDAQ OMX to better serve the requirements of N2EX as a short dated physical market after the full implementation of EMIR later this year.
Rulebook and Agreement Changes
The new and tracked revisions of the rulebook and agreements, highlighting the changes, are available here: https://www.n2ex.com/physicalmarket/legalfram...estorules/
Please note that the changes to the agreements will not impact current members and not require the resigning of agreements.
Further Information relating to the demerger
The member area can be accessed here: https://www.n2ex.com/aboutn2ex/ccpchange/ If you do not have a username and password, please contact emma.mckiernan@npspot.com .
Further communication will be made via the project contacts that have been registered to date. If you would like to nominate yourself as a key contact person, please contact Emma McKiernan (see below).
N2EX contacts:
Emma McKiernan, Client Relationship Manager, +44 7887 744 700, emma.mckiernan@npspot.com
Jason Hall, UK Business Manager,: +46 8405 7848, Jason.hall@nasdaqomx.com
Media contacts:
Sara Aadnesen, Director Corporate Communications, NASDAQ OMX Commodities and N2EX, phone: +47 6752 8080/+47 9060 0759, sara.aadnesen@nasdaqomx.com
About N2EX
N2EX is the name of the UK power market offering from Nord Pool Spot and NASDAQ OMX Commodities. NASDAQ OMX Clearing is the authorised clearinghouse.
The website www.n2ex.com provides market information and documentation for the UK power market.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its members. 350 companies from 20 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2012 the group had a total turnover of 432 TWh, which includes the auction volume in the UK market N2EX.
For more information, visit www.nordpoolspot.com .
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.
NASDAQ OMX Commodities has nearly 350 members from over 15 countries covering a wide range of energy producers, consumers and financial institutions.
For more information, please visit www.nasdaqomx.com/commodities
This document is being directed solely at and may only be communicated to persons: (i) who have professional experience in matters relating to investments as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO") or, (ii) who are high net worth companies, unincorporated associations and trustees of high value trusts within Article 49(2)(a)-(d) of the FPO, or (iii) to whom it may otherwise be lawful to distribute it (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Person.
