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EEX Introduces Central Counterparty For The Spot Market

Date 09/11/2000

Since Thursday, trading on the EEX spot market has been running through a so-called central counterparty, the counterparty for all transactions at EEX. The EEX Exchange Council had approved this innovation on Tuesday.

The central counterparty is the counterparty for all of the participants' transactions on the exchange. The exchange thus guarantees the performance of every transaction completed, and assumes the risk of default for purchases and sales. Moreover, the central counterparty also preserves the anonymity of the participants in the post-trading phase and in clearing/settlement.

EEX also announced changes in the organization of the trading form. Effective Wednesday, the auction for individual hours will take place at 10:30 a.m. instead of 9:20 a.m. Moreover, traders at EEX can now also trade peak-load contracts for holidays that fall during the week (Monday through Friday).