Amerex Energy LLP, one of the leading brokers of energy products worldwide and the European Energy Exchange AG (EEX), announced yesterday that Amerex has joined the EEX as a broker enabling Amerex’s clients to use the EEX’s OTC Clearing Facility. The cooperation will include the clearing of coal transactions both brokered by telephone and concluded via Amerex’s electronic platform.
This joint initiative is designed to increase liquidity as well as to encourage a number of new companies to join the financial coal market. The clearing of transactions through the European Commodity Clearing AG (ECC), the clearing house of the EEX, will help companies to reduce credit risk.
The European Energy Exchange AG (EEX) is the first energy exchange in Europe to offer trading in coal futures and clearing of exchange transactions as well as coal futures concluded outside the exchange. The contracts will be settled against indices for the places of delivery Amsterdam, Rotterdam, Antwerpen (Coal-ARA-Futures) and Richards Bay, South Africa (Coal-RB-Futures).
