
Nord Pool signs seven-year clearing deal with OM
OM was one of the two parties that developed Nech’s existing clearing infrastructure though a venture with Norwegian technology provider Nos called Power Clearing Systems (PCS). In the latest deal, OM will work solely with Nech, and the financial terms of the contract are linked to increases in trading flows on Nord Pool. The new OM 'secure' system should go live on January 1, 2004, when the existing contract with PCS expires.
Lien said OM should ensure a smooth migration of clearing services for the euro, help Nech to offer intra-day clearing and aid it in developing new products and services, such as gas trading. He added that OM’s links with other energy markets increased Nord Pool’s “strategic scope” for future international expansion.
Nord Pool is a co-owner of German power exchange European Energy Exchange and acts as a systems provider and adviser to French power exchange Powernext.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Exchanges
Regulation
What lies beneath: Nomura’s iceberg balance sheet
Collateral received by the Japanese bank exceeds its total on-balance-sheet assets – does it matter?
Receive this by email