NASDAQ COMPLETES ACQUISITION OF NORD POOL UNITS

 

Posted October 22, 2008

 

STOCKHOLM – The Nasdaq OMX Group Inc. has completed its 2.2 billion Norwegian Kroner ($325 million) acquisition of the clearing, international derivatives and consulting units of Nord Pool. With the acquired units, Nasdaq OMX plans to launch Nasdaq OMX Commodities, a new service based on Nord Pool’s energy and carbon derivatives products.

 

“With Nasdaq OMX Commodities, our intent is to create a global leader in energy derivatives and carbon products,” says Robert Greifeld, Chief Executive Officer of Nasdaq OMX. “Combining Nord Pool’s footprint in the commodities market with Nasdaq OMX’s global distribution capabilities and customer base puts us in a unique position to create a financial center for energy related derivatives. As one company we can meet our customers’ demands for trading in multiple asset classes, allowing us to grow liquidity in both existing and new markets.”

 

The regulated exchange, Nord Pool ASA, will remain a separate entity while clearing operations and all international products listed on Nord Pool ASA will be accounted for within Nasdaq OMX.

 

“Under Nasdaq OMX Commodities, we will be very well positioned for the increased competition and consolidation in the global energy market, and have the ability to introduce new products,” says Geir Reigstad, Head of Nasdaq OMX Commodities, and previously Senior Vice President of Projects at Nord Pool ASA. “When integrating our technology platforms, both customer bases will be able gain access to asset classes at each other's markets through one single interface, providing efficiency advantages for all our members.”

 

   
     

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