NASDAQ OMX Commodities is pleased to announce the introduction of a new trade reporting and clearing link from EFETnet to NASDAQ OMX. From today traders and brokers on the EFETnet platform can use EFETnet eXRP to report commodities trades to NASDAQ OMX Commodities for Block Trading and OTC clearing purposes.
The products available today are Nordic Power, German Power, Dutch Power, UK Power, UK Gas, Electricity Certificates and Allowances.
Freight, Fuel Oil and Iron Ore will be made available in conjunction with the merger of NOS Clearing ASA into NASDAQ OMX.
“Working with NASDAQ OMX was a great experience and we’re really pleased to have them on board. EFETnet’s eXRP provides a vendor neutral third party trade reporting and clearing registration service to all major European clearing providers and brokers. The new link to NASDAQ OMX opens up for straight through Block Trade and OTC clearing registration at NASDAQ OMX, and adds a range of new commodities products to the EFETnet platform.” said Hugh Brunswick, Managing Director of EFETnet.
Gordon Bennett, managing director and global head of energy at Marex Spectron, said: “The EFETnet link to NASDAQ OMX is a vital piece of infrastructure that will prove crucial to our markets. We have a long history of developing and supporting technological and clearing initiatives to help reduce operational and counterparty risk for our clients, and we are therefore very proud to be the first broker to be ready with EFETnet to NASDAQ OMX.”
Welcoming the new solution Bjørn Sibbern, Head of NASDAQ OMX Commodities, said: “We are very pleased that we now can offer this new trade reporting link together with EFETnet. That traders and brokers on the EFETnet platform as of today can use the EFETnet eXRP to report commodities trades to NASDAQ OMX, is a great step forward for the entire community and another contribution in making our markets ever more efficient.”