The following trades were done all for 35,000 tonnes/month: May ’06 at $60.15/tonne, June ’06 at $59.75/tonne and Q3 ’06 at $61.60/tonne. The counterparties involved included a utility, a trading company and a bank.
“Market participants show strong interest in becoming members at the EEX derivatives market. By offering coal futures and OTC clearing of coal contracts we provide them with risk management tools along the energy value chain”, said Oliver Maibaum, Director Market Operations at EEX.
“We are delighted to have been involved in these trades – there is certainly demand for OTC clearing among coal players as it helps address the credit issues that some face, and so we hope that offering this facility will help stimulate increased market liquidity,” said Richard Frape, Director of market services at Spectron.
OTC coal clearing has been available via the EEX since May 2, when the exchange as the first exchange in Europe launched coal futures contracts. The registration of OTC Trades is available from 08:30 CET until 17:30 CET. Spectron also has clearing ar-rangements in place with the EEX for the German electricity and the CO2 emissions allowance (EUA) markets.
