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APX-ENDEX, the Anglo-Dutch energy exchange, today announces the launch of the pricing panel for the ENDEX UK Power Futures on 18 September 2009. The on screen trading and OTC clearing services will commence on Friday 2 October 2009. APX-ENDEX and European Commodity Clearing AG (ECC) are currently processing the signed applications from members.
APX-ENDEX believes that the launch of a pricing panel is an important first step towards increased price transparency as well as to provide reference pricing for daily margin calculations of the market.
The products offered by APX-ENDEX include both EFA and Standard Calendar Month products. The UK Power EFA contracts will initially include 3 months, 4 quarters and 4 seasons with week contracts to follow at a later stage. Standard Calendar Month contracts start with front two months, with a possibility to expand this offering depending on the member feedback. In addition, the demo systems have been available for member testing and the trading system is fully ready for the trading of these products to start 2 October 2009.
The UK Power Futures are physically settled futures and cleared by ECC, the dedicated energy clearing house for all ENDEX products. In the context of the product innovation ECC will offer cross margining opportunities with existing Continental Power contracts (Germany, France, Belgium and the Netherlands).
