no 102/15 Nasdaq Commodities successfully launches German Wind Index Futures
Nasdaq Commodities is pleased to announce the launch of German Wind Index Futures contracts. The contracts will use the Renewable Wind Index for Germany, the NAREX-WIDE, as underlying.
Nasdaq Commodities has introduced German Wind Index Futures contracts in consultation with the industry, and in response to significant market demand. The contracts will be for days, weeks, months, quarters and years. In September, Nasdaq launched the Renewable Wind Index for Germany, the NAREX-WIDE, as preparation for the launch of the German Wind Index Futures contracts. The period between the launch of the Index and the start of trading the Index Futures was implemented to give the market the opportunity to become familiar, and trust, the Index ahead of trading.
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 which was developed by the index calculation agent, Meteogroup Deutschland. It fulfills all requirements for an underlying index for a derivative: transparency, accuracy and reliability.
Bjørn Sibbern, Global Head of Nasdaq Commodities, said: “Germany is Europe’s largest producer of wind power with a total installed capacity of more than 40.000 MW covering nearly 9% of Germany’s electricity demand in 2014. The launch of our German Wind Index Futures gives wind power producers, utilities, investors and insurers attractive new trading instruments to hedge risks from wind production in the long and short-term perspective. With these wind power futures, Nasdaq opens up a new category of power production related derivatives, which will, in the future, be expanded to more complex products and extended to other countries and regions.”
For further information, please contact Nasdaq Commodities:
Arman Mohii, Product Director European Power and Options, +46 8 405 7850 /+46 73 449 7850, arman.mohii@nasdaq.com
Knut Rabbe, Head of Sales Commodities Europe, phone +47 6752 8032/+47 9322 0800, knut.rabbe@nasdaq.com
Konstantin Lenz, Country Manager Commodities Germany, phone +49 177 328 85 28, konstantin.lenz@nasdaq.com
Media contact:
Sara Aadnesen, Global Head Communication Commodities, phone +47 9060 0759, sara.aadnesen@nasdaq.com
About Nasdaq
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 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 Oslo ASA are subject to clearing with Nasdaq Clearing.
About Nasdaq Clearing
Nasdaq Clearing is the trade name of Nasdaq 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
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