DBOEF Deutsche Boerse Ag Namen Akt (PK)

   By Antonia Di Lorenzo 
 

The European Energy Exchange said Tuesday that it plans to integrate its subsidiary Powernext into the group in an effort to make the gas markets accessible to global customers.

The EEX group, a subsidiary of Deutsche Boerse AG (DB1.XE), said the integration will be effective from Jan. 1, 2020, subject to required approvals.

Through the move, EEX would offer its products on a single marketplace and help customers trade a wide range of products on one platform. It would also simplify the admission of new participants, it added.

EEX and Powernext had already agreed on closer cooperation in the gas market in 2012, when they jointly founded the trading platform Pegas. Since 2015, all natural gas products of the two exchanges have been listed under one set of rules and membership. After the integration, the Pegas businesses will then be organized by EEX.

"A set up with only one market access will boost the cross-selling potential of the power and natural-gas derivatives market--that's why we collectively intend to merge those markets and to establish one rulebook and one admission process," said Tobias Paulun, president of Powernext and chief strategy officer of EEX.

Write to Antonia Di Lorenzo at antonia.dilorenzo@wsj.com; @AntoniaDL89

(END) Dow Jones Newswires

September 03, 2019 12:09 ET (16:09 GMT)

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