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European Energy Exchange AG (EEX) is continuing the spin-off process regarding its business divisions as planned and has now spun off the Power Derivatives Market into an independent company. EEX Power Derivatives GmbH, which will initially be wholly owned by EEX, is launched retroactively as of 1 January 2008.
EEX has already spun off the Power Spot Market into an independent company, EEX Power Spot GmbH, with effect as of 1 January 2007 after the supervisory board, the exchange council, the exchange supervisory authority and the shareholders had granted their approval.
With these measures, EEX AG paves the way for the upcoming integration of the power spot and derivatives markets from Germany and France and creates the pre-conditions for the acquisition of new partners.
EEX operates Spot and Derivatives Markets for energy and related products. With more than 200 trading participants from 20 countries it is the energy exchange in continental Europe which boasts the biggest number of trading participants and the highest turnover. Power, natural gas and CO2 emission rights 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. Furthermore, EEX offers financial settled coal futures. 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 its partner exchanges.
