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On 15 June, the European Energy Exchange (EEX) and POWER EXCHANGE CENTRAL EUROPE (PXE) successfully migrated the contracts previously listed on PXE onto the EEX T7 platform.
The offering comprises cash-settled power futures for the Czech Republic, Hungary, Slovakia, Romania and Poland. The contracts are available with monthly, quarterly and yearly expiries. Until 16 June, a volume of 217,445 MWh was traded in the new products, now listed under EEX’s rule book in the T7 system.
David Kučera says: “We thank our members for supporting us in the migration process. This transition means that now more than 200 EEX participants will be allowed to trade PXE products without any additional administrative or technical measures. We expect this step to further strengthen the Central and Eastern European markets and increase liquidity”.
“The migration of PXE products onto EEX brings European power trading even closer together”, adds Peter Reitz, Chief Executive Officer of EEX. “We are happy that all PXE members are ready to continue trading on the EEX platform. Through EEX, they gain access to a bigger network of participants and the full EEX power product suite. The migration also opens up Central and Eastern European markets to traders who were not active in this region in the past.”
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 commodity products. At EEX, contracts on Power, Coal and Emission Allowances as well as Freight and Agricultural Products are traded or registered for clearing. Alongside EEX, EPEX SPOT, Powernext, Cleartrade Exchange (CLTX), Gaspoint Nordic, Power Exchange Central Europe (PXE) and Nodal Exchange are also part of EEX Group. Clearing and settlement of trading transactions are provided by the clearing house European Commodity Clearing (ECC) and by Nodal Clear in the United States. EEX is part of Deutsche Börse Group.
The POWER EXCHANGE CENTRAL EUROPE (PXE) established in July 2007, offers trading in Czech, Slovak, Hungarian, Polish and Romanian electricity and operates the CEGH Czech Gas Futures Market in cooperation with the Austrian Central European Gas Hub AG (CEGH). PXE also offers end consumers the opportunity to find the best electricity supplier by means of electronic auctions.
