Paul Mead, Head of Continental European Power Trading at Barclays Capital, said: " Extending our participation on EEX to futures will increase our risk management tools and allow us to offer a broader range of financial products to both existing clients and new clients such as hedge funds" .
Barclays Capital is a key player in the European wholesale energy markets. In addition to being one of the largest players in the UK physical power market, Barclays Capital has developed a strong position in Continental European power markets handling physical and financial transactions in the German, French, Dutch, Belgian and Nordic markets. Barclays Capital will also start trading Spanish and Austrian power this year and plans to extend its European coverage further next year.
A total of nine internationally renowned banks are now participating in the EEX Clear-ing System, to which they contribute their risk management skills and their creditwor-thiness. The EEX Clearing System allows participants to reduce counterparty risk to a minimum. " Exchange participants have become increasingly aware of the necessity to have their transactions cleared. Together with clearing banks, the EEX protects its exchange participants from counterparty risk through clearing services" , said Dr. Hans-Bernd Menzel, chairman of the board of EEX.
The European Energy Exchange AG operates the Spot and Derivatives Market for power in Germany, having the most participants of any power exchange in continental Europe, with 118 participants from 15 countries. Apart from power and futures on power, the exchange will be offering options on power, as of November 2004, and CO2 emission certificate trading as of Spring 2005. The activities of the exchange are fur-thermore supplemented by exchange related services such as the joint clearing of over-the-counter and exchange transactions (OTC-Clearing).
The European Energy Exchange AG operates the Spot and Derivatives Market for power in Germany, having the most participants of any power exchange in continental Europe, with 118 participants from 15 countries. Apart from power and futures on power, the exchange will be offering options on power, as of November 2004, and CO2 emission certificate trading as of Spring 2005. The activities of the exchange are furthermore supplemented by exchange related services such as the joint clearing of over-the-counter and exchange transactions (OTC-Clearing).
