04109 Leipzig, de
+49 (341) 2156-216
ECC launches Clearing for Hungarian Power Futures
In time for the first anniversary of the cooperation with ECC HUPX, which launched a power spot market on 20 July 2010, now offers its trading participants trading in power futures settled by ECC. The Hungarian Power Futures comprise both base and peak load contracts that are fulfilled physically through the delivery of power. Additionally, over-the-counter transactions can also be registered for OTC clearing on the exchange. Afterwards, they are also collateralised and settled by ECC.
"The combination of the settlement expertise of ECC and the network of globally operating ECC participants with the local market support by our partner HUPX and the clearing bank KELER CCP has proven to be an ideal basis for the development of the Hungarian energy market. Thus, we are very pleased to provide our integrated clearing to the new derivatives market.", explains Dr. Thomas Siegl, Member of the Management Board of ECC. ECC will include the Hungarian power futures in its margin system so that - depending on the trading participants' portfolio and provided this is permitted by the correlation in power contracts - the trading participants can also benefit from cross-margining effects with positions on other partner exchanges.
European Commodity Clearing AG (ECC) is the central clearing house for energy and related products in Europe. The Leipzig-based company was established in the year 2006 with the spin-off and transfer of the clearing activities of European Energy Exchange AG (EEX) to this company. In its function as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on APX-ENDEX, the CEGH Gas Exchange of Vienna Stock Exchange, EEX, EPEX Spot, HUPX and Powernext as well as clearing and settlement of transactions registered for OTC clearing on these exchanges.
The use of information published here for personal information and editorial processing is generally free of charge. Please clarify any copyright issues with the stated publisher before further use. In the event of publication, please send a specimen copy to firstname.lastname@example.org.