ABN Amro Clearing has started to offer clearing and settlement of trades at Power Exchange Central Europe (PXE), becoming the 11th clearing bank to join PXE.
As a Global Clearing Member on European Commodity Clearing AG (ECC) and other major Clearing Houses (CCPs), ABN AMRO Clearing is now able to offer access to all products traded on PXE, in addition to other ECC exchange partners such as CEGH, EEX, EPEX SPOT, HUPX and Powernext.
Emile Goulmy, Sales/ Product Manager of Energy & Commodities at ABN AMRO Clearing, said: “We are very pleased to add this membership to the other existing markets we offer. Our intention is to become the top provider and number one clearing member on all energy and commodity exchanges globally. The expansion into PXE is driven by client requests, as PXE is the gateway to the Central European power markets.” ABN AMRO Clearing is one of the world’s leading providers of clearing and financing services for listed derivatives and cash securities, OTC products, warrants, commodities and FX. With 11 offices globally employing more than 800 staff, ABN AMRO Clearing services clients on 160+ exchanges, MTFs, dark pools and FX liquidity centres and consistently ranks as a top 3 clearer in most time zones with a 10% global market share. ABN AMRO Clearing offers an integrated approach to global transaction processing, financial logistics and risk management and processes over 10 million trades per day.
© Finextra Research 2014