Two European Companies Join Forces To Facilitate Pan-European Trading Of Oil And Gas Products

Tuesday, November 06, 2012 08:40
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Two European Companies Join Forces To Facilitate Pan-European Trading Of Oil And Gas Products

Tags: commodities | European zone | global investing

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).

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