EEX and ECC offer OTC registration via EFETnet

(PresseBox) ( Leipzig, )
The European Energy Exchange (EEX) and European Commodity Clearing (ECC) are offering their participants a new and straight-forward solution for clearing OTC transactions. With immediate effect, EEX and its clearing house are connected with the EFETnet network. EFETnet is operated by the European Federation of Energy Traders (EFET) and provides traders with a platform for the registration of OTC transactions at various exchanges and trading venues, including EEX.

New regulatory requirements for trading participants necessitate a change in their approach to trading and, as a result, mean that clearing of transactions concluded off exchange will gain importance. "This new connection facilitates the implementation of regulatory requirements for trading participants and, at the same time, enables them to safely and easily forward over-the-counter transactions to ECC for settlement," explains Steffen Köhler, Chief Market Officer at EEX.

The eXRP (electronic eXchange Related Processing) solution developed by EFETnet is connected to the exchange and the clearing house and permits automatic "straightthrough- processing" (STP). This means entering an OTC transaction and confirmation by the contracting parties involved (so-called "take-up") are carried out automatically and OTC transactions can be registered for clearing more quickly and easily.

All of the products offered for OTC clearing by EEX are also available within EFETnet. Trading participants wishing to use this service need only submit a form regarding approval of the automatic confirmation of trades (auto take-up) to EEX Market Supervision.

The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances and coal are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing AG (ECC). EEX is a member of the Eurex Group.
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