In its meeting today, the supervisory board of European Energy Exchange AG (EEX) unanimously expressed its full support of the European strategy of the energy exchange. The board welcomed the proposed package deal for the planned co-operation with the French energy exchange Powernext S.A. as a sound basis for this and further co-operations. A final decision about the complex package deal will be made in the next regular meeting of the supervisory board in December.
EEX operates Spot and Derivatives Markets for energy products. With more than 175 trading participants from 19 countries it is the energy exchange in continental Europe which boasts the biggest number of trading participants and the highest turnover. While coal is only quoted on the Derivatives Market, power, gas and CO2 emission allow-ances are traded both short-term on the Spot Market and long-term on the Derivatives Market with a time horizon of up to six years into the future. Clearing of exchange and over-the-counter transactions (OTC clearing) is provided by European Commodity Clearing AG (ECC). ECC is the clearing house of EEX and a subsidiary of the ex-change.
