Enter Nasdaq Commodities
Nasdaq OMX Group last week completed its purchase of Oslo-based Nord Pool's clearing and consulting units, as well as its international derivatives instruments. Under the agreement, the Nord Pool ASA exchange will operate as a separate entity, while its listed energy and carbon derivatives products and clearing services will be rolled into the newly created Nasdaq OMX Commodities.
"Through the procurement of Nord Pool's clearing operations, we will handle clearing of all energy- and carbon-related products traded at Nord Pool, allowing our members to benefit from Nasdaq OMX's risk capital stability and confidence in the market," said Hans Ole Jochumsen, EVP of transaction services and head of Nasdaq OMX Nordics. Geir Reigstad, previously SVP of projects at Nord Pool ASA, will head up Nasdaq OMX Commodities and report to Jochumsen. With the new unit, "we will be very well positioned for the increased competition and consolidation in the global energy market," said Reigstad.
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