"Transparency and liquidity are the central features of an exchange. With the open order book during trading and Designated Market Makers, we will be offering the participants transparent and liquid trading in electricity futures from the very first day," said the two EEX Executive Board members, Christian Geyer and Hans E. Schweickardt. "We are talking with the relevant participants from the energy sector about market-making" the exchange reported.
Market makers enter quotes for at least 10 contracts per transaction. For base-load futures, market makers supply binding quotes for at least 50 percent of the trading period. Trading in the derivatives market is from 10.00 a.m. to 3.00 p.m.
EEX also announced the fees for trading in the derivatives market. The transaction charge for trading in peak-load futures amounts to 3.92 euros per contract, and for base-load futures, 10.95 euros per contract. In addition to the transaction charge, there is a one-time connection charge, an annual charge and the technical infrastructure charge. The one-time connection charge and the annual charge amount to 20.000 euros, respectively. For EEX members who trade in the spot market and derivatives market at the same time, these charges are reduced to 12,500 euros, respectively. For the first six month till August this year, EEX will not charge an annual fee. The technical access fee is 2,900 euros per month.
The EEX derivatives market enables participants to trade in futures. EEX will start out with two futures, on base load and peak load. The contracts have terms of one to 18 months. Trading will be conducted over the integrated Eurex trading and clearing system, which is also used by Eurex, the world's Number One derivatives exchange.
