Nasdaq ends deal to transfer Nordic power unit to EEX

(Sharecast News) - Nasdaq on Wednesday said it had cancelled plans to transfer its Nordic power trading and clearing business to the European Energy Exchange (EEX). No reason was given for the termination. Nasdaq said it would continue to operate its Nordic power trading and clearing business.

In a separate statement, the EEX said it would continue to pursue its own business strategy for the region and related markets independently.

The European Commission, which acts as the EU competition authority, last month asked rivals and customers whether the deal may allow EEX to bundle its products to expand its market power and increase prices.

EEX offers contracts on power, natural gas and emission allowances as well as freight and agricultural products. EEX also provides registry services as well as auctions for guarantees of origin, on behalf of the French state.

Reporting by Frank Prenesti for Sharecast.com