On 1 July 2011, the European Energy Exchange AG (EEX) will open an office in London, UK, which is the first office outside of Leipzig, Germany. It will be located in Canary Wharf, a major business and financial district.
With the new office EEX recognises the increasing importance of the UK market. The step will allow the exchange to provide an even better service to its growing UK customer base. The office will be staffed by an initial team of five employees.
Managing Director Exchange Oliver Maibaum, who will head the UK office, emphasises the importance of the UK market for EEX: “London is the centre of European financial and energy trading. At present 39 of our trading participants – ranging from energy suppliers, financial service providers and brokers – are based in the UK. As part of our ambitious growth plans, we expect the number of clients and the business they trade with us to increase strongly.”
The opening of the UK office is in line with EEX’s plans to expand its position in the power, natural gas, emissions and coal trading markets as well as in the clearing segment. “A permanent presence in London will bring us closer to the market and enable us to establish direct contacts with customers and potential new participants“, adds Oliver Maibaum. The new UK team consists of specialists in the energy and financial sector and will, at first, undergo in-depth training at EEX’s Leipzig headquarters
The European Energy Exchange (EEX) develops, operates and connects secure, liquid 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 Switzerland. 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.
