Basics about operating an Exchange
European Energy Exchange (EEX) is a European market for energy and related products with an international orientation. The participants on the exchange can trade via an open and cost-effective electronic access on equal terms on the energy exchange which boasts the biggest turnover and the highest number of trading participants in Europe.
EEX operates Spot Markets for power, gas and emission rights as well as Derivatives Market on which futures and options on power, gas, emission rights and coal can be traded.
EEX is an exchange under the German Exchange Act and a regulated market within the meaning of MiFID. EEX has the following executive bodies: the Exchange Council , the Management Board of the Exchange and the Market Surveillance and the Sanctions Committee.
In Germany, an exchange is established as a public institution with a partial legal capacity upon granting of the corresponding exchange licence by the exchange supervisory authority. The Exchange Supervisory Authority which is in charge of EEX is the Saxon Ministry for Economic Affairs and Labour (SMWA) in Dresden.
EEX is characterized by liquidity, transparency and fairness in pricing and this creates the confidence which the trading participants place in EEX. Safeguarding this is the central task of EEX and of its executive bodies.
For this reason, EEX has established a set of Exchange Rules , which is based on the German Exchange Act and binding both for itself and for all trading participants. This set of rules and regulations comprises the Exchange Rules, the Trading Conditions, the Contract Specifications, the Admission Rules as well as the Code of Conduct.
The Exchange Rules establish the essential provisions regarding the organisation of the exchange, the tasks of its bodies and the preconditions for access to trading in the form of a statute. The Trading Conditions establish provisions regarding the trading process, while the Contract Specifications, which constitute a part of the Trading Conditions, establish precisely what is traded on the exchange. The preconditions for admission as a trader, especially the requirements with regard to the proof of personal responsibility and vocational qualification through a trader examination, are contained in the EEX Admission Rules. Now, EEX also has the Code of Conduct in addition; it contains the conduct to be observed by the trading participants and, in particular, serves the purpose of ensuring proper trading.
On 18 February 2009, the exchange supervisory authority, the Saxon State Ministry for Economic Affairs and Labour, enacted a sanctions ordinance. Said ordinance governs the composition and the mode of operation of the sanctions committee as the fourth body of the exchange.
EEX operates Spot Markets for power, gas and emission rights as well as Derivatives Market on which futures and options on power, gas, emission rights and coal can be traded.
EEX is an exchange under the German Exchange Act and a regulated market within the meaning of MiFID. EEX has the following executive bodies: the Exchange Council , the Management Board of the Exchange and the Market Surveillance and the Sanctions Committee.
In Germany, an exchange is established as a public institution with a partial legal capacity upon granting of the corresponding exchange licence by the exchange supervisory authority. The Exchange Supervisory Authority which is in charge of EEX is the Saxon Ministry for Economic Affairs and Labour (SMWA) in Dresden.
EEX is characterized by liquidity, transparency and fairness in pricing and this creates the confidence which the trading participants place in EEX. Safeguarding this is the central task of EEX and of its executive bodies.
For this reason, EEX has established a set of Exchange Rules , which is based on the German Exchange Act and binding both for itself and for all trading participants. This set of rules and regulations comprises the Exchange Rules, the Trading Conditions, the Contract Specifications, the Admission Rules as well as the Code of Conduct.
The Exchange Rules establish the essential provisions regarding the organisation of the exchange, the tasks of its bodies and the preconditions for access to trading in the form of a statute. The Trading Conditions establish provisions regarding the trading process, while the Contract Specifications, which constitute a part of the Trading Conditions, establish precisely what is traded on the exchange. The preconditions for admission as a trader, especially the requirements with regard to the proof of personal responsibility and vocational qualification through a trader examination, are contained in the EEX Admission Rules. Now, EEX also has the Code of Conduct in addition; it contains the conduct to be observed by the trading participants and, in particular, serves the purpose of ensuring proper trading.
On 18 February 2009, the exchange supervisory authority, the Saxon State Ministry for Economic Affairs and Labour, enacted a sanctions ordinance. Said ordinance governs the composition and the mode of operation of the sanctions committee as the fourth body of the exchange.