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ECC launches Clearing of UK Power Futures
Published on: 10/02/2009
Today, the European Commodity Clearing AG (ECC) starts clearing
operations for transactions in UK Power Futures concluded on
These futures are UK Power Base Load and Peak Load Futures (month, quarter and season contracts) based on the EFA calendar (EFA - Electricity Forward Agreement), which is commonly used in Great Britain, and month futures based on the standard calendar, which correspond to the futures contracts already settled by ECC.
All UK Power Futures are fulfilled physically through the delivery of power. “This means ECC will also send schedules from Leipzig to the British transmission system operator National Grid Transco in addition to the current nominations to TSOs from Germany, France, Austria, Switzerland, Belgium and the Netherlands.”, explains Dr. Christoph Mura, COO of ECC AG.
In the context of the product range extension, ECC will also offer its participants crossmargining between British and Continental European power futures.
European Commodity Clearing AG (ECC) is a clearing house whose range of services comprises clearing and settlement services for exchange and over-the-counter transactions in energy. 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 subsidiary. Currently, ECC provides clearing as well as physical and financial settlement of all transactions concluded on the EEX, ENDEX, EPEX Spot and Powernext.