EEX Physical Futures Help To Avoid Undulation In Reporting Results – EEX Supports By Reporting - Fourth Accounting Workshop: Experts From Pricewaterhousecoopers And Participants Confirm The Applicability Of “Own Use Exemption” According To IAS 39

European Energy Exchange (EEX) physical Futures may lead to the application of the “own use exemption” according to IAS 39. Due to this “own use exemption”, Futures are not balanced as derivatives and they do not have to be evaluated according to market value. This was confirmed by accounting experts from PricewaterhouseCoopers (PwC), EEX and workshop participants during the fourth accounting workshop in Leipzig.

EEX announced its intention to support the internal documentation of the trading activities of its participants by reportings. Thus, the demonstration of the prerequisites for the application of the “own use exemption” by EEX participants and accountants is disburdened.

Experts from accounting, controlling and balancing, but also members of the board and traders were taking part in the workshop. They were positive about the opportunity to shift positions in financial futures into physical futures. EEX will support its participants in this shift.

The EEX operates a Spot and a Derivatives Market for energy and energy-related products and, with 128 trading participants from 16 countries, it is the energy exchange in Continental Europe which boasts the highest number of participants and the biggest turnover. Besides electricity and electricity futures and options, since March 2005 also CO2 Emission Allowances are being traded. The range of services provided by EEX is complemented with related activities, such as the joint clearing of exchange transactions and over-the-counter transactions (OTC clearing).