Marex, Nasdaq launch Irish power futures cleared contract
Marex and Nasdaq Commodities have collaborated to launch an Irish power futures cleared contract that will settle against the day-ahead spot price (SEMOpx Day Ahead Market price).
Marex has been broking Irish power OTC derivatives since 2019 and believes that a cleared solution for this product will greatly increase liquidity and allow buyers and sellers of Irish power to better manage their risks.
Nasdaq Commodities is a regulated market place offering transparency, liquidity, and technical infrastructure. Nasdaq has more than 200 members from over 20 countries and offers trading and clearing in energy commodities and related products.
Customer feedback has been very positive, particularly in the highly volatile commodity environment where a cleared solution will greatly assist in minimising collateral requirements and counterparty exposures.
The product was launched at an event in Dublin on 14 July and is planned to be operational towards the end of the year.