EEX Group reports significant global growth
EEX Group continued to achieve significant global growth during the first half of 2020 reporting double and triple digit increases across the majority of its markets. In addition to major increases in the global power segment, EEX Group achieved outstanding results in Dry Freight alongside healthy increases in natural gas and environmental products.
Peter Reitz, CEO of EEX, comments: “2020 has certainly been a year where the world has faced unprecedented challenges. As an exchange group, we have a responsibility to our customers to provide a safe, secure and stable environment in which to trade and clear. The strong performance in H1 2020 demonstrates that as a group, we are able to provide our customers with certainty in these uncertain times. On behalf of the entire management board, I would like to thank our global customer base for their continued support and every member of the EEX Group team for their resilience, adaptability and commitment.”
In H1 2020, EEX Group’s global power volume achieved a total of 3,777 TWh which marks an increase of 21 per cent compared to the previous year (1st half of 2019: 3,123 TWh).
On the Group’s European power spot markets, operated by EPEX SPOT, volumes increased by 4 per cent year on year, with a total of 314 TWh traded in the first six months (1st half of 2019: 303 TWh). This was mostly driven by the positive development of the Intraday market which increased by 23 per cent to 54.1 TWh (1st half of 2019: 43.9 TWh). The Day-Ahead market remained steady with a total volume of 259.9 TWh (1st half of 2019: 259.2 TWh). Additionally, the successful launch of EPEX Intraday and Day-Ahead products in the Nordic market (Denmark, Finland, Norway and Sweden) in May and June 2020 set a new milestone for the business.
The European power derivatives market increased significantly with a growth of 31 per cent compared to the previous year. The total volume traded rose to 2,481 TWh (1st half of 2019: 1,896 TWh), which was mostly driven by the positive development in the French (279.2 TWh, +108 per cent), Spanish (105 TWh, +57 per cent), German (1,571 TWh, +23 per cent) and Hungarian (116.8 TWh, +132 per cent) power markets.
Having recently launched on 18th May this year, EEX’s Japanese power derivatives business got off to a flying start, achieving a total volume of 0.12 TWh. While on the US power derivatives market, operated by Nodal Exchange, the growth story continues with a 6 per cent increase achieved in the first half of 2020 and a total traded volume of 982.7 TWh (1st half of 2019: 924.8 TWh).
Furthermore, over the first 6 months of 2020, Nodal Exchange has become the number one futures exchange in North America having gained the majority share of Open Interest as of 30th June 2020.
The EEX Group global natural gas markets increased by 7 per cent to 1,351.7 TWh (1st half of 2019: 1,264.6 TWh), mainly driven by the positive development of the European gas derivatives market (602.6 TWh, +19 per cent). Among the European Gas Futures, the Dutch TTF hub remains the most liquid hub in Europe with 496,534 TWh traded the first semester (+17 per cent y-o-y), while the Austrian CEGH reports strong increasing volumes (42,292 TWh, +72 per cent). The European gas spot markets achieved a total volume of 718.5 TWh which represents a slight decrease of 5 per cent (1st half of 2019: 757.7 TWh). While on the North American gas derivatives market, as operated by Nodal Exchange, a total volume of 30,6 TWh was traded over the last six months. The European gas spot markets achieved a total volume of 718.5 TWh which represents a slight decrease of 5 per cent (1st half of 2019: 757.7 TWh). While on the North American gas derivatives market, operated by Nodal Exchange, a total volume of 30,6 TWh was traded over the last six months.
Thoughout the first half of 2020, EEX Group’s dry freight business continued to report major growth, recording a total volume of 422,464 lots which represents an increase of 1,211 per cent (1st half of 2019: 32,230 lots). Over the 6 month period, EEX’s freight business also achieved a series of milestones thereby cementing the Group’s position as a major player in global freight trading. In April, EEX gained the majority share of Open Interest in the total dry freight market, while in May, EEX overtook the historical dominant player in the market for the first time ever, gaining the majority share in both volume and Open Interest for the total dry freight market. This was swiftly followed by another record in June when EEX Group achieved its highest ever monthly volume in dry freight.
The market for European emission allowances achieved a total volume of 560.5 million tonnes of CO2 which marks an increase of 3 per cent compared to the previous year (1st half of 2019: 541.8 million tonnes of CO2). This was mostly driven by an increase on the Emissions spot market with an achieved volume of 311.4 million tonnes of CO2 in the primary market auctions (1st half of 2019: 295 million tonnes of CO2, +6 per cent) and a volume of 30.3 million tonnes CO2 in the secondary markets (1st half of 2019: 28.2 million tonnes of CO2, +8 per cent). The Emissions derivatives market remained stable with a volume of 218.8 million tonnes of CO2 (1st half of 2019: 218.5 million tonnes of CO2).
In the North American environmental markets, operated by Nodal Exchange, 56,786 contracts were traded in the first half of 2020 which marks an increase of 33 per cent (1st half of 2019: 42,712 contracts).
The Agricultural market remained stable with a traded volume of 26,060 contracts (1st half of 2019: 26,062 contracts).