EEX to tie French gas bourse Powernext more closely to main group

Credit: REUTERS/Fabrizio Bensch

The European Energy Exchange (EEX) on Tuesday announced it would bring the activities of its subsidiary Powernext under the EEX group umbrella as of January 1, 2020, as it develops a global exchange with a strong European footprint.

FRANKFURT, Sept 3 (Reuters) - The European Energy Exchange (EEX) on Tuesday announced it would bring the activities of its subsidiary Powernext under the EEX group umbrella as of January 1, 2020, as it develops a global exchange with a strong European footprint.

This way EEX, a subsidiary of Deutsche Boerse DB1Gn.DE, will integrate power, gas and carbon emissions trading to extend liquidity, simplify admissions, and combine clearing house services, it said in a statement.

"We are confident that this step will answer our customers' need to trade a wide range of products on one platform," said chief executive offer Peter Reitz.

(Reporting by Vera Eckert, editing by Michelle Martin)

((vera.eckert@thomsonreuters.com; +49 69 7565 1228; Reuters Messaging: vera.eckert.thomsonreuters.com@reuters.net))

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