EEX now registered as administrator under Benchmark Regulation
The European Energy Exchange AG (EEX) has been registered as an administrator in accordance with Article 34 of the EU Benchmark Regulation (Regulation (EU) 2016/1011 of 8 June 2016) approved by the Federal Financial Supervisory Authority (BaFin).
The registration is effective as of 2 March 2020.
The EU Benchmark Regulation has been in force since 1 January 2018 and affects both EU and non-EU companies that manage benchmarks used in the EU. Established index providers should apply for a license under the EU Benchmark Regulation by January 2020 to ensure the integrity of the benchmarks.
"In the interest of our customers, EEX has a long history in providing neutral, transparent and strictly rule-based indices. This for example includes the Phelix index for the German power derivatives market which has a reference character in the European power wholesale market," says Dr Tobias Paulun, EEX Chief Strategy Officer. "The status as administrator within the framework of the EU Benchmark Regulation confirms the role of EEX as a reliable and transparent partner for the market and our customers. We are building on a solid foundation, which includes a strong governance structure, and are pleased that EEX is the commodity benchmark administrator in Germany.”
The European Energy Exchange (EEX) is the leading energy exchange in Europe which develops, operates and connects secure, liquid and transparent markets for energy and related products. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services for White Certificates, Capacity Certificates and Guarantees of Origin on behalf of the French State, as well as Auctions for Guarantees of Origin.