Euronext set to widen Nordic power business
Deal needs regulatory approval
Nordic power trading has been struggling with liquidity

OSLO, Jan 28 Reuters PanEuropean stock exchange Euronext on Tuesday announced it would acquire Nasdaq39;s Nordic power futures activities, as it seeks to widen its business in the northern European electricity market.

Euronext39;s Nord Pool power trading business is already set to launch trading in financial contracts in June this year, which will be combined with the acquired Nasdaq unit in 2026 following the migration, the companies said.

Euronext and Nasdaq did not provide financial details of the transaction, which is also subject to regulatory approval.

Under the proposed plan, trading of Nasdaq39;s power futures will be transferred to Euronext Amsterdam, the companies said.

Existing open positions currently held in Nasdaq Clearing will transfer to Euronext Clearing, given member approval, they added.

Earlier this month, Euronext CEO Stephane Boujnah indicated the panEuropean stock exchange39;s interest in a deal with Nasdaq Nordic, in line with its strategy to consolidate European financial markets.

The acquisition of Nasdaq39;s Nordic power futures is a major accelerator for our power futures ambition and positions Euronext as a leading player for trading and hedging of power in Europe, Camille Beudin, Euronext head of diversified services, said in a statement.

Liquidity in the Nordic financial power market has been under…