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Markets Overview

Nasdaq European Power and Gas offering

Nasdaq Commodities’ launch of pan European energy contracts testifies Nasdaq Commodities’ commitment in the European energy space. The new energy offering gives proof of how Nasdaq Commodities want to contribute to the ever changing European energy markets.

The new product suit consists of Monthly Deferred Settlement Futures (Monthly DS Futures) for European Power and Gas derivatives, with monthly cash settlement and no cascading. The Power offering includes German, French, Belgian, Dutch, UK, Spanish and Italian contracts. The Natural Gas offering includes Dutch TTF, German NCG and Gaspool, UK NBP, French Peg Nord and TRS, and Belgian ZEE. 

For further details, please access  Appendix 2: Contract Specifications in our Legal Framework page »

Why Monthly Deferred Settlement Futures?

Today, the majority of European Power and Gas contracts are traded bilaterally as physical contracts with monthly cash flows during the delivery period. Nasdaq Commodities’ Monthly DS Futures are tailor made derivatives matching the exact same cash flow as the physical contracts, hence offering a great tool for mitigating risk of energy purchases and sales in the physical market.

 

Market Model

All Monthly DS Futures contracts are listed on primary exchange Nasdaq Oslo ASA with clearing through Nasdaq Clearing AB. The pan-European power and gas contracts can be traded in the electronic order-book or reported to the exchange as Block Trades.

  • Trading and clearing available Monday to Friday between 07:45 and 19:00 CET 
  • European Trading calendar (Closed on 1 Jan, Good Friday, Easter Monday, 24-26 Dec and 31 Dec.)

Power

Market     

Product code

Contract base

  • Germany       
  • EDE                                         
  • EPEX German and Austrian Day-Ahead Auction, i.e. the price of 1 MWh of electricity in Euro.
  • France
  • EFR
  • EPX French Day-Ahead Auction, i.e. the price of 1 MWh of electricity in Euro.
  • UK
  • EUK
  • N2EX Day-Ahead Power Auction, i.e. the price of 1 MWh of electricity in GBP.
  • Netherlands
  • ENL
  • APX NL Power Day-Ahead Auction, i.e. the price of 1 MWh of electricity in Euro.
  • Belgium
  • EBE
  • BELPEX Day-Ahead Market Hourly Prices, i.e. the price of 1 MWh of electricity in Euro.
  • Spain
  • EES
  • OMIE Day-Ahead Auction, i.e. the price of 1 MWh of electricity in Euro.
  • Italy
  • EIT
  • GME Day-Ahead Market, National Single Price (PUN), i.e. the price of 1 MWh of electricity in Euro.

 

 

Gas Markets

Market

Product code 

Contract base

  • UK 
  • NBP        
  • ICIS Heren NBP daily price assessment Day-ahead and Weekend Midpoint, i.e. the price of 1 therm of natural gas in GBpence.
  • Begian 
  • ZEE
  • ICIS Heren Zeebrugge daily price assessment Day-ahead and Weekend Midpoint, i.e. the price of 1 therm of natural gas in GBpence.
  • Dutch 
  • TTF
  • ICIS Heren TTF daily price assessment Day-ahead and Weekend Midpoint, i.e. the price of 1 MWh of natural gas in Euro.
  • German 
  • GPO
  • ICIS Heren Gaspool daily price assessment Day-ahead and Weekend Midpoint, i.e. the price of 1 MWh of natural gas in Euro.
  • German 
  • NCG
  • ICIS Heren NCG daily price assessment Day-ahead and Weekend Midpoint, i.e. the price of 1 MWh of natural gas in Euro.
  • French 
  • PNO
  • ICIS Heren Peg Nord daily price assessment Day-ahead and Weekend Midpoint, i.e. the price of 1 MWh of natural gas in Euro.
  • French

     
  • TRS                                         
  • ICIS Heren TRS daily price assessment Day-ahead and Weekend Midpoint, i.e. the price of 1 MWh of natural gas in Euro.

 

Power

The power products offered by Nasdaq Commodities comprise of Nordic, German, Dutch, Belgian, French, Italian, Spanish and UK power derivates. The derivates are Futures, Deferred Settlement Futures (DS Futures), Options, and Electricity Price Area Differentials (EPAD). Learn more about the Power market »

Freight

The exchange transactions offered by Nasdaq Commodities comprise of dry and tanker freight futures and options contracts. The dry and tanker derivatives contracts provided are linked to standardized freight routes or baskets and types of vessels. Learn more about our Freight products »

Fuel Oil

Through offering clearing of fuel oil contracts Nasdaq Commodities offers an effective hedging tool to the shipping industry and the cargo owners/buyers as well as trading opportunities to financial investors. Learn more about Fuel Oil »

Natural Gas

The Nasdaq suite of Natural Gas derivatives includes Monthly DS Futures contracts settled gainst ICIS Heren NBP,  ZEE, TTF, GPO, NCG, PNO and TRS . Read more about Natural Gas »

Ferrous Products

Nasdaq Commodities offers a global suite of derivatives products for the ferrous trading community including financial Futures and Options contracts for Steel, Iron Ore and Coking Coal. Learn more about Ferrous Products »

Renewables

Nasdaq Commodities offers trading and clearing of German Wind Index Futures settled against the NAREX WIDE, the Nasdaq Renewables Wind Index Germany. Read more about Renewables »

 

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