UK power project chooses Nasdaq OMX and Nord Pool
The long-running Futures and Options Association (FOA) UK power market design project, aimed at boosting liquidity in the UK's forward power market, has chosen Nasdaq OMX Commodities and Nord Pool Spot to deliver a platform for trading and clearing electricity spot and cash-settled derivatives.
The FOA's search for candidates has been hit by repeated set-backs since it first invited providers of clearing and market infrastructure to apply in mid-2007. The results were initially expected to be announce in June this year, but a source revealed that the relationship between the two originally selected candidates broke down, prompting the FOA to review their search. Dutch company APX, Nord Pool and European futures and options exchange Eurex were named as potential front-runners.
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