NOS Clearing

NOS Clearing ASA is the leading clearing house for the freight market and a specialist clearing provider to the commodities markets. Since 2001, NOS has invested significant resources in building a cleared ship freight derivatives market. In April 2007 NOS expanded the clearing service into the emerging seafood market. In December 2007, NOS launched the first clearing service for the combined Nordic and German power markets.

Cleared Products

Being the leading clearing house in the freight market, NOS offers the widest product range to the members. NOS focus on the needs of the industrial players as well as the needs of the increasing financial community entering the freight market. NOS offers clearing of both futures and options. The future contracts are cash settled with daily marked to market payments. The final settlement is against the average spot price across the delivery period. The cleared options are Asian style average price options and European exercise. The option premium is cash settled on the trading day. Options are offered on most of the underlying freight products. Option strikes are flexible. In 2008, the volume in the options market continued to increase substantially, showing the emerging attractiveness of this instrument. The products in the seafood marked are financially settled futures contracts settled against the Fish Pool Index. The products in the Nordic and German power markets are financially settled futures.

Read more at the NOS website