.jpg)
European Commodity Clearing AG (ECC) has expanded clearing for the gas exchange on the Central European Gas Hub (CEGH) to derivatives market products.
As the clearing partner for the CEGH Gas Exchange of Vienna Stock Exchange, ECC has already provided clearing and settlement for the spot market products for one year. On 10 December it launched the settlement for derivatives transactions traded or registered for OTC clearing on the CEGH Gas Exchange in addition. These transactions concern Natural Gas Baseload Month Contracts with physical delivery at the virtual trading hubs Baumgarten and Oberkappel. “This expansion of the product portfolio enables us to further expand the commercial benefits of integrated clearing – in particular, cross-margining effects – for the trading participants“, Dr. Thomas Siegl, Chief Risk Officer of ECC, comments.
European Commodity Clearing AG (ECC) is a clearing house whose range of services comprises clearing and settlement for exchange and over-the-counter transactions in energy. The Leipzig-based company was established in the year 2006 with the spin-off and transfer of the clearing activities of European Energy Exchange AG (EEX) to this subsidiary.
In its function as central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on APX-ENDEX, the CEGH Gas Exchange of Vienna Stock Exchange, EEX, EPEX Spot, HUPX and Powernext as well as clearing and settlement of transactions registered for OTC clearing on these exchanges.
