Group structure
The European Energy Exchange AG (EEX), based in Leipzig, was founded in 2002 as a result of the merger of the two German power exchanges Leipzig and Frankfurt. In the course of its development from a purely German power exchange towards a leading trading market for energy and related products, EEX has evolved into a corporate group which is open for European and international partnerships.
Establishing a Clearing House
One important step in the expansion strategy of EEX was the establishment of clearing services transfer of the clearing activities to the subsidiary European Commodity Clearing AG (ECC) in 2006.
The offer for co-operation was accepted: The Dutch derivatives exchange ENDEX European Energy Derivatives Exchange N.V. (today: APX-ENDEX Group) has been cooperating with EEX in the clearing sector since 2006. It was the first partner exchange for which the clearing house ECC provided clearing and settlement services.
Integrating Power Markets
In the field of power trading EEX entered a close cooperation with the French Powernext SA. In the framework of their co-operation both exchanges integrated their power spot and derivatives market.
EEX holds 50 percent of the shares in the joint venture EPEX SPOT SE based in Paris which operates short-term trading in power – the so-called Spot Market – for Germany, France, Austria and Switzerland.
German and French power derivatives trading is concentrated within EEX Power Derivatives GmbH, a majority-owned EEX subsidiary with headquarters in Leipzig. Clearing and settlement for all spot and derivatives transactions on power are provided by ECC, which has already been settling the natural gas transactions traded on Powernext since November 2008.
Shares
EEX holds 20 percent in EMCC GmbH (European Market Coupling Company), a company which executes the congestion management at the German-Danish border.
In addition, EEX holds an interest in store-x GmbH (Storage Capacity Exchange), an internet platform for secondary trading in storage capacities for natural gas, and in trac-x GmbH (Transport Capacity Exchange GmbH), an internet platform for natural gas transport capacities.
