Leipzig, Vilnius, 15 October 2024
The European Energy Exchange (EEX) will add natural gas products for Baltic-Finnish markets to its platform, currently operated by GET Baltic within EEX Group, from 27 May 2025. The product portfolio will comprise products for the gas spot (Within-Day, Day, Weekend) and derivatives (Month, Quarter, Season, Year) products for Lithuania, common market area of Latvia-Estonia and Finland. In addition, EEX will enable location spread trading between these markets and selected European gas markets, which are already available at EEX. EEX will also extend its objective and transaction-based indices to the new market areas, such as EEX EGSI and EEX EOD. GET Baltic’s products for this region will not be available for trading from this date onwards.
Peter Reitz, CEO of EEX, comments: “By integrating the natural gas markets currently operated by GET Baltic into EEX, we enable access to all European gas markets of EEX Group with one single membership and on one common trading and clearing infrastructure. This ultimately extends the network of trading participants and allows trading of price differences between the Baltic-Finnish markets and the highly liquid pan-European gas markets available at EEX. We believe that this integration will result in significant increase of liquidity and, through cross-margining effects, capital efficiency for participants trading on these markets.”
Giedrė Kurmė, CEO of GET Baltic, comments: “Offering our customers a well-developed trading infrastructure with wider range of business solutions is a long-awaited and highly beneficial change for the market. Traders in the Baltic and Finnish region will gain access to a solid choice of services and products, will be able to participate in the wholesale short-term and futures markets, along with the access to clearing solutions. Additionally, they will also be introduced to products that have not been available in our market. I am confident that the benefits offered by a top-tier commodity trading platform and the opportunity to be part of a wider trading community will make the transition to this new level of quality trading in our region well worth the effort.”
Within EEX Group, GET Baltic will remain the key center of competence for the further development of gas markets in the region and ensure close cooperation with customers on site.
European Commodity Clearing (ECC) will assume the clearing and settlement for all transactions in the new products which allows for significant capital savings through cross-margining effects. In this context, ECC will extend its Direct Clearing Participant (DCP) membership to Baltic-Finnish gas spot markets. Currently available for the power and Guarantees of Origin (GO) spot markets, this membership facilitates access for smaller and medium-sized companies.
EEX and ECC have already started the process for onboarding trading participants to these new markets. The launch is subject to final decision by the EEX Exchange Council.
The European Energy Exchange (EEX) is a leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on power, natural gas and emission allowances as well as freight and agricultural products. EEX also provides registry services as well as auctions for Guarantees of Origin, on behalf of the French State. More information: www.eex.com
GET Baltic, owned by the European Energy Exchange (EEX) and Lithuanian gas transmission system operator “Amber Grid”, is a licensed natural gas market operator with Registered Reporting Mechanism (RRM) status granted by the ACER. The company operates an electronic trading system for short-term and long-term trading of natural gas products with physical delivery in trading areas located in Lithuania, Latvia – Estonia, and Finland. The development of tailor-made solutions for natural gas trading is intended to contribute to increased liquidity, competitiveness, and transparency of wholesale gas markets in Finland and the Baltic States.
Source – EEX