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PEGAS, the pan-European gas trading platform operated by Powernext, has registered the first trade on its new OTC Options registration service. The trade was a Put on the TTF Summer 2018 contract at a strike price of 17 Euros/MWh, with an Options premium of 0,290 Euros. It was brokered by Marex Spectron and amounted to a total of 527,040 MWh.
PEGAS Options were launched on 13 March 2018 and are available for STP trade registration through Trayport Clearing Link and EFETnet ExRP. PEGAS Options are cleared by European Commodity Clearing (ECC), the central clearing house of EEX Group in Europe.
Jeremy Elliott, Managing Director, Energy, at Marex Spectron commented: “Having helped to develop this market, we are delighted to have brokered this first trade. The product gives our customers additional choice and is a sign of the growth in liquidity”
Richard Katz, Powernext’s Director of Sales, added: “Having TTF options registration available on PEGAS is a very important milestone. We now offer the full suite of derivatives products to our energy customers and the financial community. This will be a major step to establish PEGAS as the preferred exchange on derivatives.”
PEGAS is the central gas trading platform of EEX Group operated by Powernext. PEGAS provides its members with access to all products on one single platform and allows them to trade natural gas contracts in the Austrian, Belgian, Czech, Danish, Dutch, French, German, Italian and UK market areas. The product range of PEGAS covers spot and derivatives contracts for the major European gas hubs as well as trading in location, time spread, and options products on the TTF hub. This setup enables market harmonisation and forms the preferred pan-European natural gas market. For more information: www.powernext.com/pegas-trading
