The European Energy Exchange (EEX) has successfully launched new Financial Gas Futures contracts which are cash-settled against the European Gas Spot Index (EGSI).
Since launching on Monday 28 June, when EEX registered a volume of 41 GWh, the new Financial Gas Futures have seen strong interest across the European markets, attracting players from the traditional Gas trading community and financial companies.
The EGSI Financial Gas Futures are listed on the Dutch (TTF), Austrian (CEGH) and German (NCG – which will be replaced by THE in October 2021) market areas, where EEX is the leading venue for gas spot trading, holding a market share of more than two thirds of the traded volume.
Additionally, the new contracts enable EEX customers to trade the price differential between the new Gas Futures and existing Power Futures via Spark Spreads.
Steffen Köhler, Chief Operating Officer of EEX, says: “The launch of our new Financial Gas Futures marks a significant strategic milestone for our Gas derivatives business. These new contracts allow EEX customers to participate on the liquid and volatile gas markets without any risk of physical delivery. Furthermore, customers will also benefit from a range of cross-margining effects as well as guaranteed execution of products settled against the most credible and transparent gas price index in Europe.”
The new EGSI Financial Gas Futures are available for trading via orderbook and trade registration on all EEX exchange days during the regular trading hours from 8:00 to 18:00 pm CET.
