Eurex has taken its first step outside of financial derivatives by working with European Energy Exchange (EEX) in emissions trading.
Eurex CEO, Andreas Preuss has long stated the exchanges intention to venture into commodities and this latest announcement points towards fulfilling that goal.
As part of the agreement between the two German-based exchanges EEX will offer trading in emission rights the Eurexs platform. Eurex members will therefore be able to trade EEX CO2 products from 5 December.
The first contracts to be launched will be EUA
E.ON Sales &Trading, Fortis Bank Global Markets and RWE Trading have already joined as market makers. Additional market makers are expected to join by the launch date.
Through our cooperation, we are combining our respective strengths and bringing the European energy industry and the leading players on the international financial markets together on one platform, said Eurex executive board member responsible for product and market development, Peter Reitz. Emissions trading is a global product with major growth potential according to Reitz.
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