PEGAS, the pan-European gas trading platform operated by Powernext, will launch new physical natural gas Futures contracts on the Italian Punto di Scambio Virtuale (PSV) on 17 June 2015 to complete the existing offer.
The range of products will include trading for the next 3 Months, the next 3 Quarters, the next 2 Seasons and the next Calendar Year. Furthermore, PEGAS will introduce a location spread between PSV and TTF as well as a spread between the existing financial product and the new physical product for PSV on all Futures maturities.
Richard Katz, Powernext’s Director of Sales & Communications, mentions: “Powernext has been working in close relationship with its clearing house European Commodity Clearing (ECC) as well as the Italian Transmission System Operators AEEG and SNAM Rete Gas. The launch of the new products follows the request from market participants and will support the development of PSV as one of the most important gas hubs in Europe.”
PSV Financial Futures were launched on PEGAS on 26 March. Spot market products for the PSV market area are planned to be introduced in Q4 2015. Clearing and physical delivery of all products are managed by ECC, the central clearing house for energy and related products in Europe.
