EEX completes Powernext integration
The European Energy Exchange (EEX) has successfully integrated Powernext and Gaspoint Nordic as of 1 January 2020. All required approvals have been received to integrate the natural gas spot and derivatives markets into EEX.
The integration also includes registry services, which will now be operated by EEX, apart from the exchange activities.
“This is an important step for EEX Group and for our customers for which we want to offer a wide range of products and markets on one platform, providing a one-stop-shop for energy and commodity products. In line with our ambition of becoming the preferred global commodity exchange, integrating Powernext and Gaspoint Nordic is now the right step to take,” says Peter Reitz (pictured), Chief Executive Officer of EEX.
All former participants at Powernext and trading participants at EEX are now able to trade natural gas products for 12 hubs in 10 countries, alongside all other EEX products for power, emission allowances, freight and agriculturals. All products are available under one rulebook and a single exchange membership. Trading participants of EEX continue to benefit from cross-margining effects as the European Commodity Clearing (ECC) will remain the central counterparty for clearing of all transactions concluded at the regulated market and the OTF platform of EEX.
“We are very encouraged with the positive response from the market and are confident that the combined power and gas offering at EEX will boost liquidity further. We thank all colleagues of Powernext for their commitment in the integration process and look forward to further develop the gas markets and the registry activities also in the future,” says Dr Tobias Paulun, Chief Strategy Officer of EEX and former President of Powernext.