January launch for UK power market N2EX
New UK power market, N2EX, will launch a day-ahead auction market on January 11, 2010 and trading and clearing for the prompt market will begin on January 12, it was announced this month. The new power market is being developed by Nasdaq OMX Commodities and Nord Pool Spot in close co-operation with the Futures and Options Association (FOA) and UK market participants.
Most UK power is traded in the prompt market, which is cash-settled using Grid Trade Master Agreements (GTMA) as opposed to being
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