Goldman Sachs extends Clearing License at ECC
Goldman Sachs has been a Clearing Member since July 2004 and previously had a Direct Clearing Membership. This membership enabled the bank to clear its own transactions as well as the transactions of affiliates and customers connected to them.
"We are pleased that Goldman Sachs, a bank with global reach, has extended its engagement as a Clearing Member", says Dr. Thomas Siegl, Chief Risk Officer of ECC. "In this context, further international customers are able to use clearing services for the markets connected to ECC".
Currently, 21 clearing banks are admitted at ECC. Of these, 18 banks hold a General Clearing license and 3 banks are admitted as Direct Clearing Members.
European Commodity Clearing AG
European Commodity Clearing (ECC) is the central clearing house for energy and related products in Europe. In its capacity as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Powernext and PXE, or registered for clearing on these exchanges. Furthermore, ECC will start clearing services for the Norwegian NOREXECO and Cleartrade Exchange (CLTX) in the future. CLTX is a Futures Exchange with offices in Singapore and London which is part of EEX Group since December 2013.