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In the course of its ordinary meeting in Berlin on 20 September, the exchange council was informed extensively with regard to a sales initiative with a comprehensive design by European Energy Exchange AG (EEX). This initiative aims at strengthening customer relations and customer satisfaction and at in-creasing the attractiveness of the exchange compared with its competitors. In addition to the organisational establishment of key account management, there will be initiatives in particular in the fields of pricing, front-end technology and order book liquidity.
The exchange council adopted a resolution regarding the establishment of a committee which will develop a code of conduct of its own in the form of a compliance guideline for the exchange in the framework of self-regulation. This corresponds to the wish by the exchange supervisory authority which wants to strengthen the confidence in the exchange as a market and in its pricing mechanism with the help of this measure. The committee, of which the exchange council places special value in its balanced compo-sition, consists of eight members. In addition to the chairman Pierre Chevalier (DB En-ergie GmbH), Marc Ehry (PCC Energie GmbH), Marco Fesseler (BKW FMB Energie AG), Ralf Henze (Stadtwerke Hannover AG), Thomas Niedrig (RWE Trading GmbH) and Dr. Bernhard Walter (VDEW) were appointed as members of the committee. As an external member Dr. Anette Loske (VIK) was appointed by the exchange council. The exchange is represented in this by Dr. Wolfgang von Rintelen, head of Market Surveillance.
In order to take the increased requirements by the market into account the Market Surveillance Department has increased its staff: The interdisciplinary team around the head of Market Surveillance, Dr. Wolfgang von Rintelen, has been expanded with a lawyer, a specialist holding a degree in business management and an IT expert and, they will, hence, improve the efficiency of market surveillance.
Moreover, the exchange council was informed comprehensively with regard to the ex-tension of the license by the American exchange supervisory authority (Commodity Fu-ture Trading Commission - CFTC), which supervises trading in commodities on the American futures exchanges, in the course of its meeting. In connection with the proc-ess of licensing of an American company for trading on the exchange, CFTC has granted EEX permission to offer all EEX products also in the USA.
In addition to this, the management board of the exchange provided information on the status of the spin-off of individual markets of EEX into independent companies. Follow-ing the successful spin-off of the clearing division into an independent company (ECC AG) last year, the spin-off of the Spot Market for Power took place at the beginning of September. The spin-off of the Derivatives Market is planned for the coming year. The flexibility which this strategy provides will facilitate the co-operation with possible partners.
The acting chairman of the exchange council, Dr. Jacques Piasko, announced that he would resign from office as of the end of the year since he will leave his position as a member of the management board of Elektrizitäts-Gesellschaft Laufenburg AG.
The exchange council of EEX is a body of the exchange defined in the German stock exchange act. It consists of in total 23 members that adequately represent the different interest groups and business circles on the exchange: In addition to 18 representatives of the trading participants (domestic as well as foreign transmission system operators – power trading companies, municipal utilities and regional suppliers, brokers and finan-cial service providers as well as commercial consumers), four representatives of major associations (German Association of the Energy and Power Supply Industry, registered association (VIK), Federation of German Consumer Organisations, registered associa-tion (vzbv), German Electricity Association, registered association (VDEW) and the Federation of German Industries, registered association (BDI)) are members of the council and, in addition to this, the council also comprises one investors’ representative.
