EUROPE: EEX, ECC, OMIP and OMIClear to cooperate in trade registration of power derivatives

Friday December 13 2013

The European Energy Exchange (EEX) and its subsidiary European Commodity Clearing (ECC) have agreed with OMIP, the Iberian energy derivatives exchange, and OMIClear, its Iberian energy clearing house, to cooperate in trade registration of power derivatives and cross-list their products.

EEX German and French Power Derivatives will then be listed at OMIP/OMIClear and OMIP Spanish Power Derivatives at EEX/ECC. This step enables customers to register and clear several power derivatives having recourse to their preferred clearing house. Within the framework of the agreement, the companies will base their offering on the same settlement prices for the same product. Thus, a very high standard of performance in the risk management and settlement of the traded power derivatives is ensured.

From early 2014, EEX will offer its trading participants initially the registration of financially settled Spanish (SPEL) power futures for clearing by ECC. In return, OMIP and OMIClear will ensure that their participants can register financially settled German power futures (Phelix Futures) and French power futures (French Financial Futures). The companies agreed to mutually support each other in clearing and settlement of the registered transactions.

Click on the above link for more details.