18 July 2018
Visit www.avoka.com

Nasdaq OMX buys Nord Pool

17 March 2010  |  2332 views  |  0 Source: Nasdaq OMX

The Nasdaq OMX Group (Nasdaq:NDAQ) announces the acquisition of Nord Pool ASA, the world's largest power derivatives exchange and one of Europe's largest carbon exchanges, following Statnett's and Svenska Kraftnat's decision to exercise their option to sell the shares in the company. Financial terms were not disclosed.

In October 2008, NASDAQ OMX acquired Nord Pool Clearing ASA and Nord Pool Consulting AS from Nord Pool ASA. In addition, the owners of Nord Pool ASA, Statnett and Svenska Kraftnat, received an option to sell the shares in Nord Pool ASA to NASDAQ OMX at a later date. Statnett and Svenska Kraftnat have now decided to exercise that option. The transaction is subject to regulatory approvals. The acquisition does not comprise the Nordic physical electricity market operated by Nord Pool Spot AS.

Nord Pool ASA will be a part of NASDAQ OMX Commodities, which is the common offering within commodities from the NASDAQ OMX Group. Today's activity in Nord Pool ASA will continue from the premises in Lysaker outside of Oslo, Norway.

"The transaction has strong strategic rationale by reuniting the power and carbon derivatives exchange and clearing business under the same parent, allowing attractive upside opportunities," says Geir Reigstad, Head of NASDAQ OMX Commodities. "It will broaden the current commodities product range and the aim is to attract new financial participants onto the platform and increase liquidity and volume."


Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit http://go.jumio.com/finextraAdVisit info.nice.com

Top topics

Most viewed Most shared
Metro Bank opens developer portalMetro Bank opens developer portal
9796 views comments | 5 tweets | 14 linkedin
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
9772 views comments | 3 tweets | 7 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9356 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
8602 views 19 comments | 14 tweets | 30 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
8039 views comments | 1 tweets | 5 linkedin

Featured job

Find your next job