no 08/07 Nord Pool Clearing enters into the fish derivatives market


Lysaker, 2 March 2007) Nord Pool Clearing (NPC) has signed an agreement with FishEx ASA offering clearing services to the international fish derivatives market. 

Today,  the Norwegian Ministry of Finance  has granted NPC a commodity clearing license. NPC will be the first clearing house in Europe entering the international fish derivatives market.   

“Nord Pool Clearing (NPC) is pleased to extend its clearing operations into the fish derivatives market and look forward to a successful relationship with FishEx through this agreement. Our ambition with the agreement is to expand our clearing services into new commodities markets. Nord Pool Clearing has developed an infrastructure which enables us to offer clearing services to exchanges and marketplaces within commodity markets,” says Torger Lien, chairman of   Nord Pool Clearing and president & CEO of Nord Pool ASA.FishEx ASA is  a marketplace for trading in financial salmon derivatives contracts and is located in Tromsø, Norway. The granted commodity derivatives license will support NPC in order to expand in further commodity markets in the future. 

The new agreement means that NPC assumes the counterparty risk and guarantees correct settlement for the members.  

“With the new commodity license we have reached a milestone for Nord Pool Clearing and are excited to be the first clearing house going live with clearing fish derivatives,” says Torger Lien. 

 About Nord Pool Clearing
   Nord Pool Clearing    is licensed as a commodity clearing house.  Nord Pool Clearing ASA has been granted its license as clearing house under the regulatory authority of the “Kredittillsynet” in Norway, the Norwegian Financial Supervisory Authority. Nord Pool Clearing ASA is a 100% owned subsidiary to Nord Pool ASA.  Nord Pool ASA   is the world's first international commodity exchange for electricity, green certificates and European Union allowances (EUAs).     The Nord Pool group has offices in Lysaker (Oslo), Fredericia, Stockholm, Helsinki, Berlin and Amsterdam.  For more information about Nord Pool Clearing and clearing in fish derivatives, please visit http://wwwdynamic.nordpool.com/nordpool/clearing  
  
 http://www.nordpool.com/static/nordpool/archive/information/press_releases/08-07FishEx.pdf Press release no 08/2007   (PDF-format)   
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For further  information, please contact Nord Pool ASA:  

  

Torger Lien, president and CEO, Nord Pool ASA, phone: +47 6752 8070/+47 9188 8112 

Lars Galtung, vice president communications, phone +47 6752 8080/+47 9821 4812