European Commodity Clearing (ECC) and Slovenia’s BSP Energy Exchange (BSP) announced that ECC will take over clearing services for BSP power spot intraday continuous and day-ahead customers.
“Risk management for power markets in the Central, Eastern and Southeastern European region has significantly gained in importance over the past years,” said Dr Tobias Paulun, CEO of ECC. “With the provision of clearing services for the Slovenian power spot market, we will be able to offer comprehensive and reliable services to trading participants active in these markets. In combination with the ECC-cleared power futures for this region as well as further products offered by EEX Group, participants can benefit from harmonised processes and interfaces and significant margin savings.”
“For the benefit of our customers, BSP, who for the last 16 years successfully provided clearing services on the Slovenian local power spot market and cross-border settlement with neighbouring CCPs, transfers its clearing business to one of the leading pan-European clearing service providers,” commented MSc Anže Predovnik, General Director of Adex Group and Director of BSP. “Operation of clearing services at ECC will enable our clients to cease collaterals at BSP and, at the same time, gain from the extended clearing network of ECC. It will increase the robustness of provided services, and it will deliver a broader portfolio of products to Slovenian market participants. Hence, we look forward to the successful transfer.”
ECC will now oversee power spot clearing services in 16 European countries, including exchanges within the Alpine-Adriatic Danube Power Exchange Group (ADEX). In addition, ECC is clearing a wide range of power future contracts for the Central, Eastern and Southeastern European markets which are listed on the European Energy Exchange (EEX) platform alongside further power futures, adding up to 21 European countries in total.