The European Energy Exchange (EEX) has achieved a new daily record in Phelix-DE Futures trading a total of 4.7 TWh, surpassing the previous record high of 3.0 TWh by more than 50 per cent.
In another key development, the Phelix-DE Futures is also gaining importance in short-term maturities before the planned split of the German-Austrian price zone in October 2018. Historically, a large share of German trading volumes for maturities beyond 2018 is already traded in Phelix-DE Futures on a regular basis. However, yesterday’s trading volumes in Phelix-DE day and weekend contracts also exceeded the volumes in Phelix-DE/AT day and weekend contracts.
“We’re seeing a rapid shift of liquidity from Phelix-DE/AT Futures to the new product for the German market”, says Peter Reitz (pictured), Chief Executive Officer of EEX. “In doing so, the Phelix-DE Futures is redefining the German Power market and is establishing itself further as the new benchmark for European power along the whole curve”.
Additionally, trading volumes in the Phelix-DE exchange order book are also increasing significantly. On 24 October, exchange trading in Phelix DE totaled 4.0 TWh which was twice as high as the exchange volume in Phelix-DE/AT Futures (2.0 TWh). In total, 126.6 TWh have been traded in Phelix-DE Futures since launching in April 2017.
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, Emission Allowances and Coal as well as Freight and Agricultural Products. EEX is part of Deutsche Börse Group.
