GFI to clear electricity trades through EEX
Interdealer broker GFI has entered a deal with the European Energy Exchange (EEX) to clear its over-the-counter electricity trades.
“This is a win-win situation for everyone and it is anticipated that its success for German electricity transactions will lead to further clearing solutions with EEX for other European energy markets,” said Ron Levi, managing director at GFI.
EEX has signed similar agreements with Icap Energy, Prebon Marshall Yamane, Spectron and TFS Tradition Financial Services.
The exchange said the clearing initiative is designed to encourage growth and improve liquidity in the electricity market by removing counterparty credit risk.
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