©THE HEREN REPORTS - Prague Energy Exchange launches OTC clearing
Prague Energy Exchange (PXE) started providing registration, settlement and scheduling of OTC trades placed on behalf of a broker participant or between the Exchange participants as of 15th May, the exchange said late last Friday (16th May). PXE concluded a Cooperation Memorandum with some European brokers active on the energy market, offering them the possibility to register these trades at PXE, the statement said. It added that the exchange now offers all three basic pillars of energy trading including Derivatives Market, Spot Market and OTC Clearing. The clearing service is available for a series of power futures traded at PXE, as well as selected spot products on both Baseload and the Peaks. A guidebook of using the service can be viewed on The PXE website. TFS, the first and so far the most active broker on the Czech market, told Heren Energy it would joint the service and is currently finalising its contracts with PXE. TFS’ manager Jason Curtis said he had suggested to PXE to launch OTC clearing last June. “It has the potential to bring positive development to the market”, he said. Market participants polled by Heren Energy also welcomed the move, saying it may increase liquidity on the Czech market by encouraging financial institutions to trade. Czech long-term trading volumes have been increasing both on PXE and OTC over the past months. (THE HEREN REPORTS - EDEM 12096 / 19 May 2008)

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