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E-mailLondon, 5 April 2011
The N2EX physical market offering now consists of the day-ahead auction, and the continuously traded prompt and spot markets. This provides market participants with access to a complete offering for trading both short-term and longer term physical power contracts. All participants have instant access to N2EX’ centralized trading, clearing and notification services and N2EX therefore reduces barriers to entry and counterparty risk for all UK market participants.
“We are proud to complete the market offering on N2EX in the UK with the spot market launch, and we will continue our ambitious growth strategy in the UK market. We focus on building market liquidity, efficiency and transparency,” said Hans Randen, Director European Integration of Nord Pool Spot.
The first contract traded on the N2EX spot market was 4 MWh on a 4 hourly block at 07.57 GMT (08.57 CET) 5 April 2011.
The spot market is a continuous market open from 00.05 to 23.45 every day where adjustments to trades done on the day-ahead auction or prompt markets are made. Most products from the prompt market roll-over to the spot market approximately 48 hours prior to delivery, thereby enabling participants to trade all N2EX contracts until right before delivery commences.
Ends --
N2EX is the name of the UK power market offering from NASDAQ OMX Commodities and Nord Pool Spot. NASDAQ OMX Stockholm AB is the authorized clearinghouse.
