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The Physical and Financial Markets Training

   
Dates:

September 5-6

The course will be held between approx. 9.00-16.00 CET.

All lectures are in English.

Location: Oslo, Norway
Course Fee:

Members: EUR 1 100
Non-Members: EUR 1 500 

Course Fee includes: 

  • One copy of the book "Power to the People - 20 years of Nordic power market integration" 
  • Lunch and refreshments 
  • Nasdaq Academy course diploma
Registration:
  1. Enter Nasdaq Academy
  2. Press "register" 
  3. Insert password "Commo" 
  4. Click "log in" 
  5. Register Name, e-mail, Address (for invoicing), phone and Company 
  6. Choose course and date. You will receive a confirmation when application is accepted.

Introduction

Aim of the Course 

The purpose of the course is to give the participants a broad understanding of the Nordic power market and provide participants with varied backgrounds a clear understanding of the difference between the physical and financial market place, the role of the different market participants, the products and markets that are offered in addition to trading and settlement, clearing, surveillance and data services. 

Physical Market Introduction 

Nord Pool offers day-ahead and intraday markets to its customers. The participant will learn about the physical market, its different market mechanisms, price influences and principles behind the calculation of prices and physical power flows. 

Financial Market Introduction 

Nasdaq Commodities offers power, natural gas and carbon emission markets, seafood derivatives, electricity certificates and clearing services. The participant will gain deeper insight into product structures and how hedging based on financial contracts, combined with physical procurement at national or regional spot markets, work together. In addition the participant will get aquainted with settlement and clearing services as well as market surveillance.

Who should attent

  • present and potential members 
  • new traders and brokers 
  • new entrants to the physical and financial markets 
  • back-office and operations people involved in the energy markets 
  • energy producers and consumers, 
  • financial institutions and government staff 
  • lawyers, and consultants 
  • sales and marketing personnel 
  • risk management 
  • associated organizations
The Physical Market
The Financial Market

The Spot and Intraday Markets

  • The physical power market
  • Nord Pool – a market place
  • A few electricity terms
  • The Nordic power market
  • The structure of the organized markets - Nord Pool Day-Ahead and Nord Pool Intraday
  • Nord Pool Day-Ahead trading
  • Trading and price calculation in Nord Pool Day-Ahead
  • Nord Pool Intraday market
  • European integration
  • Settlement and collateral

The Role of the TSO

  • Framework
  • Planning phase
  • Operational phase

Power Data Services

  • What kind of data is available at Nord Pool?
  • Where can the data be found?

Market Surveillance - Nord Pool 

  • Market Conduct Rules
  • Disclosure requirement (UMM), insider trading, market manipulation
  • Regulation of the physical market
  • Mandatory Market Surveillance, reporting to authorities
  • Sanctions

The Financial Market

  • Introduction to the financial market
  • Products in the financial market
  • DS Future and futures contracts
  • EPADs
  • Freight contracts
  • How to trade financial contracts
  • Trading period
  • Delivery period

EL-Cert

  • The El-Cert system
  • Market Participants
  • Trading and Clearing

Trading Carbon

  • EU ETS Framework conditions
  • Trading allowances at Nasdaq
  • The future of european and global emissions trading 2013-2020 (phase III)

Clearing

  • What is clearing? Why clearing?
  • Regulatory changes
  • Trade Repository
  • Settlement
  • Margin and collateral
  • Default fund
  • Clearing Workstation (CW2)
  • CMS Web
  • The way forward

Market Surveillance - Nasdaq Commodities

  • What is the function of market surveillance?
  • Is there a need for a surveillance department?
  • How do we conduct our work?

Contact Us

Course Registration

Enter Nasdaq Academy and register.

Registration help:

1. Enter Nasdaq Academy
2. Press "register"
3. Insert password "Commo
4. Click "log in" 
5. Register Name, e-mail, Address (for invoicing), phone and Company 
6. Choose course and date. You will receive a confirmation when application is accepted.

Terms

Binding application: A binding application should be sent in one month prior to the start of the course. We accept applications up until the last day before the course starts, providing there are places left. 

Discount: Members and market makers of Nasdaq Commodities and Nord Pool will receive a discount of EUR 400 per participant. 

Cancellation: We reserve the right to change any venue or cancel a course if there are not enough participants.

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