The NASDAQ OMX Group, Inc. (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 Kraftnät'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 Kraftnät, received an option to sell the shares in Nord Pool ASA to NASDAQ OMX at a later date. Statnett and Svenska Kraftnät 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."
ABOUT NASDAQ OMX COMMODITIES AND NORD POOL ASA
NASDAQ OMX Commodities and Nord Pool ASA provide access to the world's largest power derivatives exchange and one of Europe's largest carbon markets. NASDAQ OMX Commodities is responsible for the international derivative and carbon products offering, and also operates the clearing business and offers consulting services to commodities markets globally. Agora-X, a U.S. electronic communications network for institutional trading in over-the counter (OTC) commodity contracts, is a part of NASDAQ OMX Commodities. North American Energy Credit and Clearing Business (NECC), a U.S. clearinghouse for the OTC power and gas markets, is also a part of NASDAQ OMX Commodities. Together with Nord Pool Spot, NASDAQ OMX Commodities has set up N2EX, the marketplace for physical UK power contract. Nord Pool ASA is responsible for the exchange operations and trading activities, including ownership of the Nordic derivative products. NASDAQ OMX Commodities and Nord Pool ASA have more than 390 members from 22 countries across a wide range of energy producers and consumers, as well as financial institutions.
NASDAQ OMX Commodities is the common offering from NASDAQ OMX Stockholm AB and the Norwegian branch NASDAQ OMX Oslo related to the commodities market.
For more information, please visit www.nasdaqomx.com/commodities and www.nordpool.com.