EEX granted Recognised Overseas Investment Exchange status in the United Kingdom

EEX granted Recognised Overseas Investment Exchange status in the United Kingdom

The European Energy Exchange (EEX) has been awarded Recognised Overseas Investment Exchange (ROIE) status for the United Kingdom by the Financial Conduct Authority (FCA), effective from 21st February 2019.

The ROIE status ensures that the exchange will be able to continue to operate in the UK regardless of the consequences of the upcoming Brexit.

This follows confirmation that EEX’s clearing house, European Commodity Clearing (ECC) can benefit from the Temporary Recognition Regime by the Bank of England (BoE) which enables ECC to continue to offer clearing services in the UK for three years after Brexit should a No-Deal scenario materialise.

On receiving the ROIE status, Peter Reitz, EEX’s Chief Executive Officer comments; “Regardless of the scenarios that may unfold in light of Brexit, our number one priority is to ensure that our customers continue to have the ability to trade and clear with us. The ROIE status and the BoE order ensure that we are able to provide our customers with confidence and security at this uncertain time”.

For further information:

ROIE:     https://register.fca.org.uk/ShPo_FirmDetailsPage?id=0010X00004MkhpeQAB

BoE:       https://www.bankofengland.co.uk/-/media/boe/files/financial-stability/financial-market-infrastructure-supervision/interim-list-of-third-country-ccp.pdf?la=en&hash=5476B539773D6E5F667DFDC238B982F93C515C6F

 

About EEX

The European Energy Exchange (EEX) is the leading energy exchange in Europe which develops, operates and connects secure, liquid and transparent markets for energy and related products. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on Power and Emission Allowances as well as Freight and Agricultural Products. EEX is part of Deutsche Börse Group.

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