European Commodity Clearing, the Leipzig-based clearing arm of the European Energy Exchange, has said it will provide a clearing and settlement service for the Central European Gas Hub
European Commodity Clearing, the Leipzig-based clearing arm of
the European Energy Exchange, has said it will provide a
clearing and settlement service for the Central European Gas
Hub, a natural gas exchange in Austria set to be launched this
Heinrich Schaller, chief executive officer of the Vienna
Stock Exchange, a founding partner in the bourse, said that the
relationship would benefit customers of the exchange as it
would allow traders the ability to offset some positions with
other markets also cleared by the ECC. "Moreover, the trading
participants can benefit in particular from the advantages of
integrated clearing across other markets which are provided by
ECC," Schaller said.
The new exchange is a joint project between OMV, the Central
European oil and gas group; Gazprom, the Russian natural gas
firm; Wiener Börse, the operator of the Vienna Stock
Exchange; and Centrex Europe Energy & Gas, a company
operating in the natural gas sector.
Trading at the CEGH will be conducted through the present
infrastructure of the Vienna Stock Exchange.
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