EUROPE: EEX Exchange Council welcomes Partnership with Cleartrade and Approves Introduction of New Power and Gas Products

Thursday March 20 2014

On 18 March 2014, the first European Energy Exchange (EEX) Exchange Council meeting of the year was held in Geneva. At the meeting, Cleartrade Exchange (CLTX), which is a new member of EEX Group, was introduced to the Exchange Council and resolutions regarding the introduction of new products on EEX were adopted.

The Exchange Council approved the introduction of new products. Regarding the Power Market, the Council approved the introduction of exchange trading in financially settled Italian Power Futures (base and peak load) with weekly, monthly, quarterly and annual maturities. This product will be launched following the positive customer feedback on the Trade Registration offer on this market which the participants can use to register Italian OTC trades on EEX for clearing via ECC. Since the launch in October 2013, more than 7 TWh of power have been registered in this product. The Exchange Council approved the inclusion of the new products in the contract specifications. Exchange trading in Italian Power Futures is to be launched on 7 April 2014.

On PEGAS, the gas platform jointly operated by EEX and Powernext, the product offering is to be expanded with Spot and Derivatives Contracts for the British National Balancing Point (NBP) as well as for the Belgian market areas Zeebrugge Beach (ZEE) and Zeebrugge Trading Point (ZTP).

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