Yesterday, the European Energy Exchange (EEX) successful-ly launched 24/7 gas trading and, at the same time, expanded the GASPOOL and NCG market areas connected to exchange trading with the Dutch TTF market area.
On account of the introduction of 24/7 trading gas transactions can now be traded on EEX without any interruptions 24 hours a day and 7 days a week. With the simultane-ous launch within the new TTF market area EEX also increases the degree of integra-tion of control energy trading on the exchange, since the market area operators can now also trade control energy at market prices regardless of the respective quality on the weekends and at night and, thus, further reduce their own control energy costs.
On Monday, a volume of in total 36,988 MWh was sold on the new trading system on the Natural Gas Spot Market. Overall, 24 companies participated in trading yesterday. With a traded volume of 528 MWh trading transactions for delivery into the TTF market area were concluded for the first time. The first trade in the TTF market area was con-cluded by ehw Energiehandelsgesellschaft West and PCC Energie GmbH. Moreover 24/7 Trading GmbH, Stadtwerke Hannover AG and Syneco Trading GmbH were among the six active participants in the new TTF area.
“The expansion of trading on the Natural Gas Spot Market to 24 hours a day and sev-en days a week further strengthens the importance of EEX as a trading platform in Eu-ropean gas trading“, says Managing Director Exchange Oliver Maibaum. “The EEX of-fer on the Natural Gas Spot Market becomes even more attractive on account of the flexible trading hours on the exchange, continuous 1 MW trading and the inclusion of the TTF trading point.“
Settlement of all trading transactions is provided by European Commodity Clearing AG (ECC), which executes the nomination to the three market area operators around the clock. Schedule reporting is fully carried out by ECC and, thus, relieves the trading participants‘ operative processes. “The settlement of 24/7 gas trading underlines the leading role of ECC in the physical settlement of energy transactions concluded on the exchange. With the new infrastructure created to this end ECC is reinforcing its core competence and competitive position in clearing of commodities“, explains CRO Dr. Thomas Siegl.
The European Energy Exchange (EEX) develops, operates and connects secure, liq-uid and transparent markets. EEX holds 50 percent of the shares in EPEX Spot SE, which operates the Spot Market for Power for Germany, France, Austria and Switzer-land. The German and French Derivatives Market for Power is concentrated within EEX Power Derivatives GmbH, a majority-owned subsidiary of EEX with registered of-fices in Leipzig. Furthermore, EEX offers spot and derivatives trading in natural gas and CO2 emission allowances as well as trading in financial coal futures. EEX Group also includes European Commodity Clearing AG (ECC), the central clearing house for energy and related products in Europe.
