Energy players quit Nasdaq for better deals with brokers, banks
They say new rules imposed to avoid another financial crisis make trading too expensive and cumbersome
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Stockholm
SINCE the 1990s, Norwegian metals refiner Elkem AS routinely tapped the world's oldest power exchange in search of the best deals on the electricity supplies it needed to run five plants that make materials for everything from iPhones to body armour to solar panels. Not any more.
Elkem, Norway's third-largest electricity buyer, has joined a growing list of energy players to quit the Nasdaq Inc exchange that offers power contracts in the Nordic region and Germany. Trading on the Oslo-based market plunged 25 per cent in the first half of 2017 to the lowest in at least a decade. Firms now buy directly from power plants or brokers and banks.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
