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The European Energy Exchange (EEX) successfully launched the exchange order book for Italian Power Futures yesterday. The new Italian products complement the existing Trade Registration service which enables participants to register OTC trades on EEX for clearing via European Commodity Clearing (ECC).
On the first trading day, 48 trades with a total volume of 994,960 MWh were concluded. Thereof 274,450 MWh were traded in the EEX order book and 720,510 MWh were registered for clearing. Ten companies participated in exchange trading of Italian Power Futures: A2A Trading S.r.l., Axpo Italia S.p.A., Danske Commodities A/S,
EDF Trading Limited, Edison Trading S.p.A., ENOI Power S.A., Gen-I d.o.o, Gunvor International B.V. (Geneva Branch) and two other trading participants.
EEX receives strong market support in the Italian Power market. To date, two market makers have signed on and will support the EEX order book for Italy: Edison Trading SpA in Milan and EDF Trading Limited in London.
“The very positive customer feedback for our Italian Trade Registration offer has prompted us to now start the exchange order book. We are confident that clients in the Italian power market will benefit from the liquidity in these new products”, says Steffen Köhler, Chief Operating Officer of EEX.
The financially settled power futures for Italy can be traded as base load and peak load products with weekly, monthly, quarterly and yearly maturities on both the EEX order book and for Trade registration. On Monday, EEX has also successfully launched the peak load products for Trade Registration with several participants including Enel Trade S.p.A.
Since October 2013, EEX has offered a Trade Registration service for Italian Power Futures. So far, a volume of 11.7 TWh has been registered for clearing.
By mid-year, EEX will open an office in Milan to support the development of the new market. This is in line with the growth strategy of EEX to steadily expand their geographic reach within Europe.
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, CO2emission allowances, coal and guarantees of origin are traded. In the context of its majority shareholding in Cleartrade Exchange (CLTX), EEX additionally offers the markets for freight, iron ore, fuel oil and fertilizer. 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.
