Nasdaq Granted Nordic Power Spot Market License

United States based financial service cooperation operating three stock exchanges NASDAQ announced having being granted the right to operate in the Nordic day-ahead power market. This approval license was granted after the Swedish market regulator.

The Nordic Power Spot Market is made up of 15 individual bidding or price and zones which on a daily auction determines a common price and also the individual prices for each zone.

Stockholm-based Nasdaq subsidiary Nasdaq Spot has been granted status as a Nominated Electricity Market Operators (NEMO), entitling it to carry out day-ahead market coupling operations,” said the Swedish Energy Markets Inspectorate.

Currently, Sweden based Nasdaq Commodities runs a financial trading platform for European energy markets including for Nordic power. Nasdaq European spokesperson, David Augustsson, says this approval is for all Nordic markets and they will keep on updating the public on any development on the matter.

The approval is valid for all Nordic markets and although we of course welcome the decision as it allows us to keep moving forward with our plans to launch a day-ahead market for power, we don´t have an update on when we will be able to go live,” said Augustsson.

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