The following is a list of key tasks to be completed in order to become a participant on the Elbas and/or the Elspot market.

1.  Submit an application to Nord Pool Spot AS – with the following information

• Your company’s full name and registration number
• For trading in Elspot; state the area(s) in which you wish to trade; Norway, Sweden, Finland, Western or Eastern Denmark or Estlink.
• For trading in Elbas; state the area(s) in which you wish to trade; Norway, Sweden, Finland, Eastern or Western Denmark or Germany.
• State the trading currency NOK/SEK/DKK/EUR you will use in Elspot trading (the Elbas trading currency is always EUR).
• Enclosed with the application letter should be:
  - A transcript from the company register of the participant's company certificate, not older than two months
  - The company’s most recent annual reports and interim reports (if not available on the internet); for newly established companies, the opening balance sheet.
• For clearing customers, the trading and clearing representative
  will submit this information

2. Signing participant agreement

• When Nord Pool Spot has recieved all relevant information stated above, Nord Pool Spot will issue a participant agreement in two copies that both parties have to sign
• For clearing customers, Nord Pool Spot will issue three copies of the agreement
  to be signed by Nord Pool Spot, the trading and clearing representative
  and the clearing customer 

3. Submit names of individuals authorized to conduct trade

• A registration form will be sent together with the participant agreement 
• Not applicable for clearing customers

4.  Bank account

• Establish a pledged or non-pledged bank account for settlement as required by Nord Pool Spot.

5.  Security requirements for trade

• Before trade can begin; participants must post a minimum-security amount - either as an on-demand bank guarantee or as cash in the pledged bank account .

6.  Balance responsibility

• The responsibility for the companys balance must be taken care of either through entering a balance agreement with the Transmission System Operator in the Elspot and/or Elbas area(s) in which trading will take place or through a third company having such responsibility.
• For participants trading in Norway it is required that every company trading in Elspot has its own balance agreement with Statnett SF. 

7.  VAT

• Submit your company’s VAT registration information to Nord Pool Spot.
• For trading in Germany; state whether your company is a "taxable dealer" or "end user" in Germany and submit your company's EIC code.

8.  Trade can begin

• If all the steps described above are in order; Elspot and/or Elbas trade can begin.
• Information on Elspot and Elbas trading systems can be found here.