ECC and NOREXECO to cooperate in the Commodity Sector11.12.2013
European Commodity Clearing (ECC) and NOREXECO AS have agreed to cooperate in the field of commodity trading and settlement and have concluded a corresponding cooperation agreement to this end.
European Commodity Clearing (ECC) is the central clearing house for energy and related products in Europe. In its capacity as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Powernext and PXE or trades registered on these exchanges.
“We are pleased to be able to support NOREXECO in launching this market from the very beginning. As a result, ECC will operate in a new and interesting product environment, entering a global market with excellent growth opportunities which also offers interesting interrelations to our existing product portfolio. Our flexible standard processes enable us to support these products in our integrated clearing efficiently”, adds Dr. Thomas Siegl, Chief Risk Officer of ECC.