The European Energy Exchange (EEX) has been awarded Recognised Overseas Investment Exchange (ROIE) status for the United Kingdom by the Financial Conduct Authority (FCA), effective from 21 February 2019.
The ROIE status ensures that the exchange will be able to continue to operate in the UK regardless of the consequences of the upcoming Brexit.
This follows confirmation that EEX’s clearing house, European Commodity Clearing (ECC) can benefit from the Temporary Recognition Regime by the Bank of England (BoE) which enables ECC to continue to offer clearing services in the UK for three years after Brexit should a No-Deal scenario materialise.
On receiving the ROIE status, Peter Reitz (pictured), EEX’s Chief Executive Officer, says: “Regardless of the scenarios that may unfold in light of Brexit, our number one priority is to ensure that our customers continue to have the ability to trade and clear with us. The ROIE status and the BoE order ensure that we are able to provide our customers with confidence and security at this uncertain time”.
