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Eurex teams with Borzen for cross-border spot power exchange

18 December 2007  |  2044 views  |  0 Source: Deutsche Börse

Borzen, the Slovenian power exchange, and Eurex, the international derivatives exchange, today announced that they will jointly create a spot power market for the broader South Eastern European region - SouthPool.

The new company will be launched as of January 2008. Initially, Borzen will hold a stake of 51 percent in the joint venture, Eurex 49 percent. The joint venture aims to include a wide range of partners from the region and is open for further shareholders.

The partners aim to establish the leading regional cross-border power exchange with a spot market for power and gas. Nucleus of the new exchange will be Borzen. Eurex will contribute its expertise in trading and clearing infrastructure. By combining the strengths of both partners, customers will benefit from higher liquidity, as well as enhanced efficiency and transparency.

Damjan Stanek, CEO of Borzen said: "Together with the partners from the region and our well-known partner Eurex we have the vision to unify the fragmented market and to create a neutral, regional cross-border energy exchange with one electronic platform, structure and operations. The new exchange shall be offering spot trading combined with the advantages of a central clearing house."

Peter Reitz, member of the Eurex board said: "Bringing in our expertise in trading and clearing infrastructure provides the basis to develop this market in terms of efficiency, liquidity and transparency. We look forward to join forces with further partners and stakeholders in the region."

As a next step, Borzen and Eurex will further develop relations with stakeholders from all countries in the region.

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