The European Energy Exchange (EEX) will launch OTC clearing for natural gas transactions concluded on the British National Balancing Point (NBP) from 29 February 2012. Both clearing and settlement of the OTC transactions including physical settlement will be provided by the European Commodity Clearing AG (ECC).
Right from the launch, EEX and ECC will offer their trading participants a “fee holiday” until 28 February 2013 which will enable the participants to familiarise themselves with the products and processes. This exemption from fees includes trade registration as well as fees for clearing and delivery. In addition, EEX takes over the submission of the transactions to the clearing house. This automatic "take-up service" reduces the effort involved for the traders.
The new clearing offer supplements the products for the gas market areas GASPOOL and NCG (Germany), TTF (the Netherlands), CEGH (Austria) as well as GRTgazNorth, GRTgaz South and TIGF (France) which are already settled by ECC today. As a result, trading participants that use the new offer for the NBP market can benefit from a high savings potential through cross-margining effects.
The European Energy Exchange (EEX) is the leading European energy exchange. 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).