BHF-BANK Signs Up To Nord Pool As GCM

BHF BANK has become a General Clearing Member (GCM) at Nord Pool Clearing ASA, a part of NASDAQ OMX Commodities. BHF BANK is the first German institute to be listed as a GCM at Nord Pool. As a GCM, BHF

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BHF-BANK has become a General Clearing Member (GCM) at Nord Pool Clearing ASA, a part of NASDAQ OMX Commodities. BHF-BANK is the first German institute to be listed as a GCM at Nord Pool.

As a GCM, BHF-BANK will be in a position to perform clearing for customers and Non-Clearing Members, i.e. clients that are not admitted to clearing at Nord Pool Clearing ASA.

The new member category is counterpart to the clearinghouse for both proprietary trading and client trading. The Nord Pool Clearing’s existing member categories will continue unchanged in addition to the new member GCM category.

By linking up with Nord Pool, BHF-BANK completed its concept of being a pan-European energy clearer. Today, BHF-BANK offers one-stop clearing services at the eight major energy exchanges in Europe.

“In recent years BHF-BANK has become one of the leading providers of clearing services for exchange-traded energy derivatives and energy related products on all major European energy exchanges,” says Vincent van Lith, head of Derivatives Services, BHF BANK. “By adding this new service we will continue to expand our number one position in global energy clearing.”

“We are very satisfied with BHF-BANK signing up as our first German GCM, as NASDAQ OMX Commodities sees great potential for developing our business in Germany further,” says Geir Reigstad, head of NASDAQ OMX Commodities.

“BHF can now offer its existing and prospective customers, which currently are not members at Nord Pool, the opportunity to become a NCM at Nord Pool in addition to the existing facility of trading and clearing German, Nordic and Dutch power derivatives and carbon products. This will hopefully lower the barriers to trade these markets for BHF customers.”

L.D.

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