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Euronext has confirmed that the transfer of open interest from Nasdaq Clearing to Euronext Clearing for power derivatives is scheduled to occur over the weekend of March 14, 2026. This migration follows Euronext’s binding agreement to acquire Nasdaq’s Nordic Power Futures business, a move aimed at expanding Euronext’s presence in the European power market.
Key aspects of the agreement and transfer:
* Acquisition and Integration: Euronext is acquiring Nasdaq’s Nordic power futures business, which will be integrated into the new Euronext Nord Pool Power Futures market. This aligns with Euronext’s “Innovate for Growth 2027” strategy to expand in power derivatives.
* Trading and Clearing: Once the transfer is complete, trading of these power futures will be operated from Euronext Amsterdam and cleared through Euronext Clearing.
* Migration of Open Positions: Existing open positions in Nasdaq’s Nordic power derivatives, currently held in Nasdaq Clearing, will be transferred to Euronext Clearing, subject to the approval of clearing members.
* Timeline:
* August 2024: Euronext and Nord Pool announced plans to launch a Nordic and Baltic power futures market.
* January 2025: Euronext signed the binding agreement to acquire Nasdaq’s Nordic power futures business.
* March 2025: Client testing for the Euronext Nord Pool Power Futures Market’s External User Acceptance (EUA) environment became available.
* June 2025: The infrastructure for the Euronext Nord Pool Power Futures market is expected to go live.
* March 2026 (weekend of 14th): The full transfer of open interest from Nasdaq Clearing to Euronext Clearing is scheduled.
* Benefits: Euronext aims to leverage its proprietary trading platform (Optiq®) and Euronext Clearing’s risk model to provide margin efficiencies and a robust, liquid, and sustainable market infrastructure for power futures trading in the Nordic and Baltic regions.
* Nasdaq’s Role: Until the migration is completed, Nasdaq will continue to operate its Nordic power futures business as usual. Post-migration, Nasdaq will exit its commodities business.
This agreement is a significant step in the consolidation and evolution of the European power derivatives market, with Euronext positioning itself as a leading player in the sector.

Video courtesy of First Bank of Nigeria

Video courtesy of First Bank of Nigeria