.jpg)
The European Energy Exchange (EEX) and its clearing house European Commodity Clearing (ECC) are pleased to announce a new cooperation with biw Bank für Investments und Wertpapiere AG (biw AG).
As part of this cooperation, ECC has admitted biw AG as a Direct Clearing Member. Furthermore, biw AG was admitted as a participant for the primary market auctions of emission allowances at EEX. Therefore, biw AG can offer a clearing access model for the auctions and will make its infrastructure available for trading and clearing to this end.
Advantag AG is the first partner to use this access provided via biw AG. As a result, this enables its customers to take part in the primary market auctions at EEX.
“This cooperation gives Advantag AG and further interested partners the opportunity to use our technical and legal infrastructure as an online bank and provide them with transparent and financially attractive access to exchange trading. Initially, the cooperation will cover the primary market for emission allowances, however, an expansion to further products and markets is envisaged”, explains Andreas Wolf, board member of biw AG.
“With biw we have found a partner with many years of experience”, comments Raik Oliver Heinzelmann, sole member of the Board of Advantag. “Now, we can enable our growing customer base to participate in the auctions for EU allowances”, the emissions trading expert explains.
“This clearing model grants further participants and, in particular, small- and medium- sized companies which do not wish to take part in the auctions directly through the exchange but through intermediaries, access to the primary market auctions”, concludes Steffen Köhler, Chief Operating Officer at EEX.
The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances and coal are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing AG (ECC). EEX is a member of Eurex Group.
European Commodity Clearing (ECC) is the central clearing house for energy and related products in Europe. In its capacity as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Powernext and PXE or registered for clearing on these exchanges.
biw Bank für Investments und Wertpapiere AG was established in 2005 and is one of the most modern online banks in Germany today. As part of the XCOM AG corpo- rate group, biw AG offers its partners and legal entities a platform for professional se- curities trading as a white label transaction bank. In addition, the bank supports medium-sized companies in the fields of initial public offerings, take-overs and mergers. It provides municipal loans and lombard loans as well as citizen loans. Moreover, it as- sumes custody transactions for asset managers, financial intermediaries, banks and other financial service providers. Together with its partners, biw AG also provides cash for retail and offers innovative solutions regarding the field of cash management. In ad- dition, the bank supports other financial institutions with banking know-how and innova- tive financial ideas, for example, providing outsourcing solutions for banking products. Further information is available at: www.biw-bank.de.
Advantag AG was established in 2009. The brokerage firm is one of the leading CO2 brokers in Germany and was the first environmental financial service provider to be granted a BaFin license to take part in the auctions on EEX for its customers. Advantag works for clients such as; automobile producers, energy producers, airlines and plant operators from all industries which are subject to the requirement to take part in emissions trading. As a result of its mature organisational structure, the company can implement the settlement of transactions on the same day (T+0). In addition to trading in emission rights and guarantees of origin, Advantag supports companies and private persons in determining and voluntarily compensating their carbon footprints. The CO2 brokerage firm is listed on the Dusseldorf stock exchange. Further information is available at: www.advantag.de.
