EEX and Subsidiary Powernext to Offer Gas Markets Under One Exchange License
September 03 2019 - 12:24PM
Dow Jones News
By Antonia Di Lorenzo
The European Energy Exchange said Tuesday that it plans to
integrate its subsidiary Powernext into the group in an effort to
make the gas markets accessible to global customers.
The EEX group, a subsidiary of Deutsche Boerse AG (DB1.XE), said
the integration will be effective from Jan. 1, 2020, subject to
required approvals.
Through the move, EEX would offer its products on a single
marketplace and help customers trade a wide range of products on
one platform. It would also simplify the admission of new
participants, it added.
EEX and Powernext had already agreed on closer cooperation in
the gas market in 2012, when they jointly founded the trading
platform Pegas. Since 2015, all natural gas products of the two
exchanges have been listed under one set of rules and membership.
After the integration, the Pegas businesses will then be organized
by EEX.
"A set up with only one market access will boost the
cross-selling potential of the power and natural-gas derivatives
market--that's why we collectively intend to merge those markets
and to establish one rulebook and one admission process," said
Tobias Paulun, president of Powernext and chief strategy officer of
EEX.
Write to Antonia Di Lorenzo at antonia.dilorenzo@wsj.com;
@AntoniaDL89
(END) Dow Jones Newswires
September 03, 2019 12:09 ET (16:09 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Deutsche Boerse Ag Namen... (PK) (USOTC:DBOEF)
Historical Stock Chart
From Apr 2024 to May 2024
Deutsche Boerse Ag Namen... (PK) (USOTC:DBOEF)
Historical Stock Chart
From May 2023 to May 2024
