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Today, the European Energy Exchange (EEX) admitted its 200th direct trading participant – the banking house Bear, Stearns International Limited based in London. This means that the number of trading participants on the exchange has increased by 10 since the beginning of the year.
Bear, Stearns International Limited was initially licensed to trade on the Derivatives Market. Moreover, the company is in the process of obtaining a license as a clearing member on European Commodity Clearing AG (ECC). "With Bear Stearns a further important participant from the financial market has joined the EEX trading platform“, Dr. Hans-Bernd Menzel, CEO of EEX AG, is pleased and points out that by now 35 trading participants located at the London financial market have been licensed.
Etienne Amic, Senior Managing Director of Bear Energy in Europe, part of Bear, Stearns International Limited, states: "The European Energy Exchange has developed a broad suite of products that is very attractive to us as a provider of financial and physical services in the energy space, as well as to our customers, who tend to be active members in the marketplace. The membership to EEX truly marks our official entry into the Euro-pean energy trading community. We expect to be immediately active in most products, including the newly-developed CER futures, and we are looking forward to excellent trading relationships with our clients, our peers and the energy community at large."
Bear, Stearns International Limited is a subsidiary of “The Bear Stearns Companies Inc.” a leading financial services firm. The Company’s core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services.
