Leipzig / Ljubljana, 21 March 2024 – European Commodity Clearing (ECC) and BSP Energy Exchange LLC (BSP) announce that ECC will take over clearing services for BSP power spot intraday continuous and day-ahead customers. Subject to successful testing and external stakeholders’ readiness, ECC will start clearing and settlement from 16 April 2024.
Dr Tobias Paulun, CEO of ECC, comments: “Risk management for power markets in the Central, Eastern and Southeastern European region has significantly gained in importance over the past years. With the provision of clearing services for the Slovenian power spot market, we will be able to offer comprehensive and reliable services to trading participants active in these markets. In combination with the ECC-cleared power futures for this region as well as further products offered by EEX Group, participants can benefit from harmonised processes and interfaces and significant margin savings.”
M.Sc. Anže Predovnik, General Director of Adex Group and Director of BSP, comments: “For the benefit of our customers, BSP, who for the last 16 years successfully provided clearing services on the Slovenian local power spot market and cross-border settlement with neighboring CCPs, transfers its clearing business to one of the leading pan-European clearing service providers. Operation of clearing services at ECC will enable our clients to cease collaterals at BSP and, at the same time, gain from the extended clearing network of ECC. It will increase the robustness of provided services, and it will deliver a broader portfolio of products to Slovenian market participants. Hence, we look forward to the successful transfer.”
With this extended offering, ECC will now oversee power spot clearing services in 16 European countries, including exchanges within the Alpine-Adriatic Danube Power Exchange Group (ADEX). In addition, ECC clears a wide range of power future contracts for the Central, Eastern and Southeastern European markets which are listed on the European Energy Exchange (EEX) platform alongside to further power futures, adding up to 21 European countries in total.
European Commodity Clearing (ECC) is a central clearing house which specialises in energy and commodity products. ECC assumes the counterparty risk and guarantees the physical and financial settlement of transactions, providing security and cross-margining benefits for its customers. As part of EEX Group, ECC provides clearing services for EEX, EEX Asia and EPEX SPOT and for the partner exchanges HUPX, HUDEX, NOREXECO, SEEPEX and SEMOpx. For more information, please visit www.ecc.de
BSP Energy Exchange LLC (BSP) operates a physical day-ahead market and intraday market with market coupling services in Slovenia and local and cross-border clearing and settlement services. In 2023, its 34 members traded 11.5 TWh with an annual clearing turnover of 1.6 billion EUR. BSP is part of the Alpine-Adriatic Danube Power Exchange - ADEX, which is the first regional power exchange for Central and South-Eastern Europe. For more information, please visit www.bsp-southpool.com.
CONTACT
EEX Public Relations
T +49 341 2156-300
presse@ecc.de | www.ecc.de