FRANKFURT, April 26 The European Energy Exchange
(EEX), the continent's biggest power bourse, will expand trading
in North America and elsewhere this year as it reported record
sales and earnings for 2016 due to contract sales and
The Deutsche Boerse-owned exchange took over
Prague-based PXE in 2016 and said last month it agreed to buy
all the shares in power and gas-trading U.S. peer Nodal, to
pursue its growth strategy.
"As a result, we will directly expand our offering with
contracts for Northern America which is the biggest power
derivatives market in the world," Chief Executive Peter Reitz
said in a webcast from the company's Leipzig headquarters.
EEX will also push its core products, which apart from
power, are spot and futures contracts for gas and carbon
emissions, while its Singapore subsidiary CLTX adds freight,
bunker, iron ore and fertiliser.
Sales revenue rose by 23 percent last year to 234.2 million
euros ($255.28 million) and earnings before tax by 76 percent to
87.6 million euros, Chief Finance Officer Iris Weidinger said.
Both were record highs.
Trading volumes of all its power futures contracts rose 54
percent in 2016 compared with 2015 and all its spot futures rose
1 percent, it said, following preliminary data published in
EEX has benefited from tighter financial markets regulation,
as some participants in over-the-counter trade prefer the
anonymity and clearing functions offered by exchanges.
The EEX last year widened its market share in German power
derivatives to 37 percent from 31 percent a year earlier, to 33
percent from 24 percent in France, and to 63 percent in Italy
from 49 percent. It became the leading power exchange in Spain
Trading in the German flagship power future rose by 57
percent to 2,854 terawatt hours (TWh), more than five times
Germany's annual consumption.
($1 = 0.9174 euros)
(Reporting by Vera Eckert; Editing by Susan Thomas)