European Commodity Clearing AG (ECC) will assume clearing and settlement of the natural gas trades concluded on the French Powernext SA. Today, Powernext announced the launch of French spot and derivatives trading in natural gas for 26 November 2008.
Currently, European Commodity Clearing AG provides clearing for all transactions con-cluded on the European Energy Exchange (EEX) and the Dutch derivatives exchange ENDEX European Energy Derivatives Exchange. This comprises clearing as well as physical and financial settlement of power, natural gas, CO2 emission allowances and coal. In 2007, the ECC settlement volume amounted to a total of approx. EUR 130 billion.
In the framework of the cooperation in power trading between EEX and Powernext all products from the Power Spot and Derivatives Market will be settled by ECC in the future.
European Commodity Clearing AG (ECC) is a clearing house with a range of services comprising clearing and settlement services for exchange and over-the-counter trans-actions in energy. The Leipzig-based company was established in 2006 with the spin-off and transfer of the clearing activities of European Energy Exchange AG (EEX) to this subsidiary.
