EEX and Nasdaq Commodities Announce Intention to Transfer Nasdaq’s European Power Business to EEX
20 Junio 2023 - 3:15AM
EEX and Nasdaq Commodities Announce Intention to Transfer Nasdaq’s
European Power Business to EEX
The European Energy Exchange (EEX) and Nasdaq, Inc. (Nasdaq: NDAQ)
today announced they have reached an agreement under which EEX will
acquire Nasdaq’s European power trading and clearing business,
subject to receipt of customary regulatory approvals. The
transaction will involve the transfer of existing open positions in
Nasdaq’s Nordic, French, and German power futures as well as
European carbon emission allowance futures (EUAs) to EEX’s clearing
house European Commodity Clearing (ECC). No financial details of
the deal are disclosed.
Nasdaq Clearing AB, along with the clearing infrastructure to
support it, is not part of the sale. Nasdaq will continue to own
and operate Nasdaq Clearing AB to provide comprehensive clearing
services for Nasdaq Nordic’s equity derivatives, fixed income
derivatives, and other financial derivatives contracts.
As part of the agreement, EEX will update the current Nordic
power market structure, replacing Electricity Price Area
Differential (EPAD) contracts with zonal futures contracts, a
proven and successful market model in many other European power
derivatives markets.
Until the receipt of regulatory approvals, Nasdaq will continue
to operate its European power trading and clearing business as
usual. On receipt of the required approvals, Nasdaq will inform the
market about the timing for the transfer of existing open positions
to EEX.
About EEX
The European Energy Exchange (EEX) is a leading
energy exchange which builds secure, successful and sustainable
commodity markets worldwide – together with its customers. As part
of EEX Group, a group of companies serving international commodity
markets, it offers contracts on Power, Natural Gas and Emission
Allowances as well as Freight and Agricultural Products. EEX also
provides registry services as well as auctions for Guarantees of
Origin, on behalf of the French State. More information:
www.eex.com
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the
capital markets and other industries. Our diverse offering of data,
analytics, software, and services enables clients to optimize and
execute their business vision with confidence. To learn more about
the company, technology solutions and career opportunities, visit
us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This communication contains forward-looking information related
to Nasdaq and the proposed sale of the Nasdaq European power
trading and clearing business by an affiliate of Nasdaq to EEX,
which transaction involves substantial risks, uncertainties and
assumptions that could cause actual results to differ materially
from those expressed or implied by such statements. When used in
this communication, words such as “will”, “enable”, “intends”,
“expected” and similar expressions and any other statements that
are not historical facts are intended to identify forward-looking
statements. Forward-looking statements in this communication
include, among other things, statements about the potential
benefits of the proposed transaction, including statements relating
to expectations of future operating results and financial
performance, the anticipated timing of closing of the proposed
transaction, preparations for the transfers of open interest and
the actions of Nasdaq after the closing. Risks and uncertainties
include, among other things, risks related to the ability of Nasdaq
to consummate the proposed transaction on a timely basis or at all;
Nasdaq’s ability to secure regulatory approvals on the terms
expected, in a timely manner or at all; the ability to realize the
anticipated benefits of the proposed transaction, including the
possibility that the expected benefits from the proposed
transaction will not be realized or will not be realized within the
expected time period; disruption from the transaction making it
more difficult to maintain business and operational relationships;
risks related to diverting management’s attention from Nasdaq’s
ongoing business operations; the negative effects of the
announcement or the consummation of the proposed transaction on the
market price of Nasdaq’s common stock or on Nasdaq’s operating
results; significant transaction costs; unknown liabilities; the
risk of litigation or regulatory actions related to the proposed
transaction; and the effect of the announcement or pendency of the
transaction on Nasdaq’s business relationships, operating results,
and business generally.
Further information on these and other risks and uncertainties
relating to Nasdaq can be found in its reports filed on
Forms 10-K, 10-Q and 8-K and in other
filings Nasdaq makes with the SEC from time to time and
available at www.sec.gov. These documents are also available
under the Investor Relations section of Nasdaq’s website
at http://ir.nasdaq.com/investor-relations. The
forward-looking statements included in this communication are made
only as of the date hereof. Nasdaq disclaims any obligation to
update these forward-looking statements, except as required by
law.
EEX
Contact: |
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EEX Public Relations |
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T +49 341 2156-300 |
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presse@eex.com | www.eex.com |
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Nasdaq Media Relations Contact |
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Emily Pan |
Erik Gruvfors |
+1 646 637 3964 |
+46 73 449 78 12 |
emily.pan@nasdaq.com |
erik.gruvfors@nasdaq.com |
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Nasdaq Investor Relations Contact |
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Ato Garrett |
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+1.212.401.8737 |
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Ato.Garrett@nasdaq.com |
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