EEX gains majority share of volume and open interest in Dry Freight Market
The European Energy Exchange (EEX) has achieved another milestone in its Freight business by gaining the majority share of volume in the total Dry Freight market for the first time since launching the business in 2016.
Throughout the month of May, EEX reported a 50.5 per cent volume share of the Dry Freight market (19 May: 3.48 per cent) in addition to a 54 per cent share in Open Interest (19 May: 7.73 per cent) thereby becoming the market leader as the No.1 Exchange in Dry Freight Trading worldwide.
Steffen Koehler, Chief Operating Officer, EEX, says: “In 2016, EEX entered the Dry Freight market with a vision to become the No.1 Exchange in Dry Freight trading worldwide. Over those past 4 years, we have continued to demonstrate our commitment to this market by growing our business and growing liquidity. Today, that original vision has become a reality and I would like to offer my sincere thanks to everyone who believed in us, who supported us and who helped us achieve this fantastic milestone”
Over the past 18 months, EEX Freight has seen consistent and significant growth, achieving a year on year increase of +109 per cent in 2019. Furthermore, in the first quarter of 2020 (Jan-Mar), overall volumes exceeded the volume generated in 2016, 2017, 2018 and 2019 combined. This period of sustained organic growth in addition to the migration of Freight Open Interest from Nasdaq Futures, Inc. (NFX) to European Commodity Clearing (ECC), has resulted in EEX emerging as a the leading exchange in global freight trading.