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Eurex Group
Frankfurt am Main, Leipzig, 10 June 2014 – The European Energy Exchange (EEX) and Eurex Exchange have jointly decided to concentrate trading in agricultural derivatives within EEX, in which Eurex holds a majority interest of 62,57 percent. The move will give customers access to a large and standardised offering of commodity derivatives contracts via one platform.
Thus, the agricultural derivatives currently tradable on Eurex Exchange will be offered on EEX from 2015. Eurex Exchange’s product portfolio comprises futures on potatoes, skimmed milk powder, whey powder, butter, hogs and piglets. All contracts are quoted in Euro and are settled in cash. Market indices which reflect the underlying physical transactions are used as reference prices.
“EEX has comprehensive expertise in trading in energy and commodity derivatives”, says Andreas Preuß, Chief Executive Officer of Eurex. “The transfer of the Eurexagricultural derivatives segment to our subsidiary EEX is an important step towards establishing EEX as the commodity exchange within Eurex Group.”
“With the introduction of agricultural products, we continue our strategy of expanding our offering to further asset classes”, adds Peter Reitz, Chief Executive Officer of EEX. “In this context, trading participants can benefit from a complementary product offering of commodities, such as power, gas or fertilisers for example, on one platform and the further expansion of the agricultural product portfolio. We will cooperate very closely with the agricultural and food sector in this respect. Furthermore, participants can save costs through the settlement of trades in various commodity transactions by our clearing house ECC.”
Over the next months, EEX and Eurex will work together with market participants, clearing members, brokers and final consumers to ensure a smooth transition of trading.
As part of its growth strategy, EEX pursues organic growth in its existing markets and the expansion to further regions and asset classes. Through the acquisition of the majority interest in Cleartrade Exchange (CLTX) in December 2013, EEX has already expanded its offering to further energy-related contracts, such as freight, iron ore, fuel oil and fertilisers.
About EEX:
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, coal and guarantees of origin are traded. Through its majority shareholding in Cleartrade Ex-change (CLTX), EEX additionally offers the markets for freight, iron ore, fuel oil and fer-tilisers. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing (ECC). EEX is a member of Eurex Group.
About Eurex Exchange:
Eurex Exchange is among the leading derivatives markets worldwide with a globally growing distribution network. In addition to the classic asset classes, the product offering of approximately 2,000 products also covers alternative asset classes. Our trading platform – which is based on an innovative IT infrastructure – offers access to the most actively traded Euro-denominated share index and fixed income derivatives with the highest liquidity.
As part of Eurex Group we offer our customers access to a global liquidity network with a daily trading volume of approximately 9 million contracts together with the International Securities Exchange (ISE) and the European Energy Exchange (EEX). Eurex Clearing, one of the leading central counterparties worldwide, is the clearing house of Eurex Exchange.
Further information is available at www.eurexchange.com.
Eurex Group includes Eurex Exchange, International Securities Exchange (ISE),European Energy Exchange (EEX), Eurex Clearing, Eurex Bonds and Eurex Repo.Eurex Group is a subsidiary of Deutsche Börse AG (Xetra: DB1)
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