NOS is pleased to announce that from 29th April 2013, NASDAQ OMX Oslo ASA will list Freight and Fuel Oil contracts that can also be executed through its Block Trade Facility (Block Trades). Any such contracts will be cleared by NOS.
Following its acquisition of NOS, NASDAQ OMX has determined that the NOS cleared freight and fuel oil contracts will be admitted to trading on the regulated exchange, NASDAQ OMX Oslo ASA (Exchange). The Block Trade functionality of the Exchange will be available for the NOS member, US and Non-US persons, that are themselves Exchange Members or that have an arrangement with a Block Broker Member for the execution at the Exchange. All Block Trades must be executed pursuant to the rules of the Exchange.
A Block Broker Member is an Exchange Member of NASDAQ OMX Oslo ASA who is not required to have a clearing membership or trading account. The Block Broker Member is subject to the Market Conduct Rules of the Exchange and has signed a Block Broker Member Agreement.
All existing NOS products: dry and wet freight futures and options, fuel oil futures
|Who can trade Blocks||
All existing NOS clearing members, who have an arrangement with a Block Broker Member or that are themselves Exchange Members.
|Block Trades||The Block Broker Members or other Exchange Members in accordance with the Exchange rules will report each Block Trade to the Exchange. A Block Trade must be submitted to the Exchange within opening hours (09:00 – 19:00 CET) and 15 minutes after matching. Trades matched outside opening hours have to be submitted within 15 minutes prior to opening hours the following day.|
|Confirmation procedures||Block Trades follow standard NOS affirmation procedures. A pre-confirmation statement may be issued .|
|Netting of positions||Block Trades of futures or options submitted to NASDAQ OMX through Block Broker Members, other Exchange members or through appropriate persons at other NOS approved exchanges, will be netted and cleared on the members' existing clearing account held with NOS.|
The NASDAQ OMX Exchange Notice to be found here.
For further information, please do not hesitate to contact NOS Clearing:
Phone: +47 67 10 85 10