Today NOS launches first suite of cleared gas swaps and options

NOS is pleased to announce the launch of the first suite of cleared financially-settled gas swaps and options products in Europe. The contracts, for the UK NBP gas market, have been developed in close consultation with the traders and brokers. The contracts are settled agains the ICIS Heren day-ahead assessments for NBP.

The new products will help stimulate liquidity in the UK gas market, particularly by encouraging OTC derivatives trading and clearing among financial players. By launching a cleared, financially settled gas market, NOS places itself in the forefront of the developement of the OTC markets that emerges from the financial crises.

The cleared, financially settled contracts will be for balance of the month, monthly, quarterly and sesonal periods, and will be settled against the monthly average of ICIS Heren's day-ahead NBP gas price assessment (mid price). NOS has also developed a European style option contract with delivery of the underlying swap contract at expiry.

The product can be traded via the leading energy brokers. Read more about the UK Gas contracts here: Market section for Gas