Released by Nasdaq Commodities on July 11, 2018
Nasdaq Commodities is pleased to announce that they have signed an agreement with StormGeo. Effective since Monday, July 9, StormGeo is the index calculation agent for our German Wind Index Futures contracts.
The wind index, NAREX-WIDE, is published on www.nasdaqomx.com/commodities. It shows the daily utilization of the installed wind power capacity in Germany. NAREX-WIDE is a synthetic index which is based on ECMWF weather predictions and a wind power production model and fulfills all requirements for an underlying index for a derivative: transparency, accuracy and reliability. The existing model and data set was taken over identically by StormGeo in order to ensure the continuity of the NAREX WIDE index.
"We are very excited about working with Nasdaq on NAREX WIDE, it fits well with our increased presence in the German market," said Jostein Mælan, VP Renewables at StormGeo.
For further information, please contact:
David Augustsson, Corporate Communications, phone +46 84056135, David.Augustsson@nasdaq.com
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.
About Nasdaq Commodities
Nasdaq Commodities is the brand name for the worldwide suite of commodity related products and services offered by Nasdaq. The Nasdaq Commodities offerings include power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services. NASDAQ OMX Oslo ASA is the commodity derivatives exchange authorized by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing
Nasdaq Clearing is the trade name of NASDAQ OMX Clearing AB which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
For more information, visit www.nasdaqomx.com/commodities