The European Energy Exchange (EEX) and Powernext SA are joining forces to create a pan-European gas market from the first quarter of 2013.
After cartel approval, all gas products will be offered via Trayport, a platform provider that Paris-based Powernext has been using since 2004.
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The goal of combining the two companies is to facilitate the trading of gas on exchanges. The two companies will remain separate but have signed a relevant memorandum of understanding
The move is designed to facilitate the trading needs of pan-European trading needs.
Clearing and settlement of trades will be done through EEX’s commodity clearing arm, European Commodity Clearing (ECC).