EEX and Nasdaq Commodities Announce Intention to Transfer Nasdaq's European Power Business to EEX; Financial Terms Undisclosed
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The European Energy Exchange (EEX) and Nasdaq, Inc. (NASDAQ:NDAQ) have agreed for EEX to acquire Nasdaq's European power trading and clearing business, subject to regulatory approvals. The deal includes the transfer of open positions in Nasdaq's Nordic, French, and German power futures and European carbon emission allowance futures to EEX's clearing house European Commodity Clearing (ECC).
June 20, 2023 | 8:41 am
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Nasdaq, Inc. (NASDAQ:NDAQ) has agreed to sell its European power trading and clearing business to EEX, subject to regulatory approvals. The deal includes the transfer of open positions in Nasdaq's Nordic, French, and German power futures and European carbon emission allowance futures to EEX's clearing house European Commodity Clearing (ECC).
The acquisition of Nasdaq's European power trading and clearing business by EEX is subject to regulatory approvals, and no financial details have been disclosed. This makes it difficult to determine the exact impact on Nasdaq's stock price in the short term. However, the deal could potentially streamline Nasdaq's operations and allow it to focus on its core businesses. As a result, the short-term impact on Nasdaq's stock price is neutral.
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