Nasdaq OMX closes NOS Clearing acquisition

Source: Nasdaq OMX

Nasdaq OMX Group (NASDAQ:NDAQ) today completed the acquisition of NOS Clearing ASA. Regulatory approval and clearance have been obtained and the shareholders of Imarex ASA have approved the transaction.

The process of integrating NOS Clearing ASA into the acquiring entity, NASDAQ OMX Stockholm AB, will now be initiated. The objective is that NOS Clearing ASA will be merged into NASDAQ OMX Stockholm AB by the end of 2013. The integration process will unfold in sections.

The integration of NOS Clearing ASA will allow NASDAQ OMX to move forward with the global strategy of NASDAQ OMX Commodities to grow in new markets. NASDAQ OMX and NOS Clearing ASA will strengthen its offering to the global commodity markets and continue to develop the clearing services.

Geir Reigstad, Head of NASDAQ OMX Commodities, said: "We are very pleased that we have reached this milestone and can move ahead according to plan. NOS Clearing ASA fits perfectly into our strategy to grow internationally within the energy space. Freight is a key part of the energy supply chain. At the same time we are also entering into the new emerging markets of sea food derivatives. The acquisition allows NASDAQ OMX to further leverage on the Genium INET technology based platform, an all-asset, cross-market technology platform. The goal is that NOS Clearing ASA will be fully supported by this platform by year end 2013."

Morten Erichsen, Managing Director of NOS Clearing ASA, said: "Under the ownership of NASDAQ OMX, NOS Clearing ASA will become part of an organization that brings size and global reach to NOS Clearing ASA to the benefit of our members. We are now looking forward to develop the most complete commodity offering in the clearing space to our members worldwide."

The Swedish-Norwegian electricity certificate instruments will continue to be offered by NOS Clearing ASA in close co-operation with NASDAQ OMX Commodities Europe until the integration is complete. This means that the Swedish-Norwegian electricity certificate instruments as a consequence of the acquisition will not be launched on the NASDAQ OMX Genium INET platform in mid-2012 as previously announced. The trading and clearing of the Swedish-Norwegian electricity certificate instruments will eventually be fully integrated with the clearing of other NASDAQ OMX Commodities Europe products, including Nordic power.

NASDAQ OMX Commodities Europe (NASDAQ OMX Oslo ASA) holds a Norwegian exchange license and operates the Nordic power derivatives market and one of Europe's largest carbon exchanges on one trading platform. NASDAQ OMX Commodities Europe is fully owned by the NASDAQ OMX Group, Inc. 

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