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Nasdaq receives Nordic power spot market licence, start date not set -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Nasdaq Market logo in New York is shown at the Nasdaq Market website on September 2, 2015. REUTERS/Brendan McDermid/File Photo

OSLO (Reuters – Nasdaq received permission to trade in Nordic’s day-ahead market power markets, the company announced late Tuesday after Swedish regulators granted the operator a license.

Nordic markets are made up of 15 price zones. Daily auctions determine a system price and the individual prices in each area.

Nasdaq’s Stockholm subsidiary Nasdaq Stock has been designated a Nominated Electricity Market Operator (NEMO), allowing it to perform day-ahead market coupling operations.

The European Union created the NEMO idea in 2015 to unify physical power trading and increase exchange competition.

“The approval is valid for all Nordic markets – and although we of course welcome the decision as it allows us to keep moving forward with our plans to launch a day-ahead market for power, we don´t have an update on when we will be able to go live,” David Augustsson, a spokesperson for Nasdaq’s European Markets, told Reuters by e-mail.

The Swedish-based Nasdaq Commodities operates an online financial trading platform that trades on European power markets. Two other NEMOs are currently operating on the Nordic market: Norway-based Nord Pool, (NASDAQ:) Spot, and EPEX Spot. Both are based in Paris.

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