Nord Pool, the Nordic electricity exchange, has signed a co-operation agreement with OM, the Swedish technology developer and exchange operator, for the provision of OM's Secur clearing system.

As part of the seven-year agreement, which was signed with Nord Pool's subsidiary, Nordic Electricity Clearing House, OM will become the new systems provider for Nord Pool's clearing operations from January 1, 2004. Until then, Nord Pool will continue to work with its existing supplier, Power Clearing Systems.