Nasdaq OMX Acquires Nordic Derivatives Exchange
March 17, 2010
Nasdaq OMX Group said Wednesday it had acquired Nord Pool ASA, the world's largest power derivatives exchange and one of Europe's largest carbon exchanges.
Terms were not disclosed.
The acquisition follows the October 2008 purchases by Nasdaq OMX of Nord Pool Clearing ASA and Nord Pool Consulting AS from Nord Pool ASA.
At that time, the owners of Nord Pool ASA, Statnett and Svenska Kraftnät, received an option to sell their
shares in Nord Pool ASA to Nasdaq OMX at a later date. The purchase announced Wednesday means Statnett and Svenska Kraftnät decided to exercise that option.
The transaction is subject to regulatory approvals.
The acquisition does not include the electricity market operated by Nord
Pool Spot AS.
Nord Pool ASA will be a part of Nasdaq OMX Commodities. Its operations will remain in Lysaker outside of Oslo, Norway.
"The transaction has strong strategic rationale by reuniting the power and carbon derivatives exchange and clearing business under the same parent, allowing attractive upside opportunities," says Geir Reigstad, head of Nasdaq OMX Commodities.
