Oslo, 7 April, 2014 – NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) today completed the integration of NOS Clearing ASA into NASDAQ OMX Clearing AB. Thereby NASDAQ OMX Commodities continues its global expansion strategy into new markets. The integration of NOS Clearing products and staff provides NASDAQ OMX Clearing with additional capabilities in the global commodities markets. Clients across the globe gain access to a wide variety of new products including tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore and electricity certificates.
“We are delighted that we have reached this milestone,” said Bjørn Sibbern, Head of NASDAQ OMX Commodities. ”The product set fits perfectly with our strategy to expand our presence in the global commodities and energy space, considering that freight is a key part of the energy supply chain. Additionally we are including seafood derivatives to our product mix. We are pleased to be able to bring our global customer base a comprehensive clearing platform for commodities.”
NOS Clearing is a Norwegian based clearing house for tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore and electricity certificates. It has been the leading clearing house for tanker derivatives since 2001. It was acquired by NASDAQ OMX in 2012 and the transition of integrating NOS Clearing into NASDAQ OMX Clearing AB originally began in 2013.
As part of the integration, NASDAQ OMX introduces its Block Trade Facility for additional Commodities instruments on April 7, 2014. The Block Trade Facility allows exchange members, including Non-Clearing Members and Block Broker Members, to report trades executed in accordance with the exchange rules but outside the electronic order book to the exchange for subsequent clearing. Trades through the Block Trade Facility are considered exchange transactions and subject to market surveillance and post-trade transparency. The Block Trade Facility will allow for greater market transparency and conforms to new regulatory requirements.
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About NASDAQ OMX NASDAQ OMX (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 OMX 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 OMX is home to more than 3,300 listed companies with a market value of over $8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.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 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
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