PresseBox
Press release BoxID: 311213 (European Commodity Clearing AG)
  • European Commodity Clearing AG
  • Augustusplatz 9
  • 04109 Leipzig
  • http://www.ecc.de
  • Contact person
  • Katrin Berken
  • +49 (341) 2156-202

ECC launches Clearing and Settlement for new Gas Exchange on the Central European Gas Hub (CEGH)

(PresseBox) (Leipzig, ) Last Friday, European Commodity Clearing AG (ECC) successfully launched clearing and settlement of transactions in natural gas concluded on the CEGH Gas Exchange of the Vienna Stock Exchange.

Trading on the CEGH Gas Exchange is carried out via the systems of the Vienna Stock Exchange and physical settlement is provided on the basis of exchange trading via the CEGH distribution points. Initially clearing and settlement by ECC comprises the spot market with two natural gas dayahead products with delivery at the virtual trading points Baumgarten and Oberkappel.

"The assumption of clearing and settlement for exchange trading on the Central European Gas Hub constitutes an important step for us", Dr. Hans-Bernd Menzel, CEO of ECC AG comments and adds: "With this step ECC expands its current offer for the settlement of transactions in natural gas, power, emission rights and coal in numerous countries and establishes a visible position for itself as the leading clearing house for energy in Europe."

Five exchanges including the CEGH Gas Exchange of the Vienna Stock Exchange currently use ECC as their clearing partner. At the moment, ECC already guarantees the physical or financial settlement of transactions concluded or registered for clearing on the European Energy Exchange (EEX), the Franco-German EPEX Spot SE, the British- Dutch APX-ENDEX and the French Powernext SA.

European Commodity Clearing AG (ECC) is a clearing house whose range of services comprises clearing and settlement services for exchange and overthecounter transactions in energy. The Leipzigbased company was established in the year 2006 with the spinoff and transfer of the clearing activities of European Energy Exchange AG (EEX) to this subsidiary.