Nasdaq Commodities, the Oslo-based operator of the Nordic power derivatives market, said Tuesday that the positive momentum for its German power offering continued with a new monthly record in October.
Total traded and cleared volumes for German power were up 94% on the year at 23.1 TWh, bringing year-to-date volumes to 136.5 TWh, it said.
However, volumes in its core Nordic power market fell 19% from a year ago to 123 TWh this October, it added.
Combined power volumes so far this year reached 1,223 TWh including 0.7 TWh from UK power, it said.
"Our German power offering keeps going from strength to strength, and again this demonstrates Nasdaq's momentum and support in this market," Nasdaq Commodities VP Georg Aasen said.
The German power offering is part of Nasdaq's overall global commodities strategy to expand its presence in the largest power market in Europe, it said earlier this year.
Nasdaq Commodities competes with EEX Group, majority-owned by Deutsche Boerse, for market share across Europe with EEX also expanding in the Nordic power market and launching UK power futures this November.
Leipzig-based European Energy Exchange (EEX) remains Germany's dominant power exchange with 1,337 TWh of German power derivatives traded and cleared in 2014 amid continued strong growth in the first half of 2015.
EEX doubled its market share in German power derivatives over the past two years to more than 30% now, partly at the expense of energy brokers amid new regulation that may favor trade-registration services, EEX CEO Peter Reitz told Platts in February.
EEX's October volumes for German/Austrian power rose 39% on the year to 172 TWh, while total European power volumes across EEX's markets have already risen above 2,000 TWh for the first 10 months of the year.
