Paris, 25 January 2017 – PEGAS, the pan-European gas trading platform operated by Powernext, announces the successful introduction of time spread products on its PEGAS Futures hubs (CEGH VTP, GASPOOL, NBP, NCG, PEG Nord, PSV, TTF and ZEE) on 24 January 2017.
The new contracts are available via the Trayport® Exchange Trading System℠ (ETS), as well as the Straight Through Processing (STP) registration service for OTC trades.
On the first day, a total volume of 3.5 TWh was traded on the new products. 61 transactions were made by 38 different members, including all maturities (months, quarters, seasons and calendar years), mainly on the PEGAS CEGH VTP, PSV and TTF market areas. All trades were cleared through European Commodity Clearing, the central clearing house of the EEX Group.
Richard Katz, Director of Sales at Powernext, comments: “Time spread trading is an important enhancement requested by our members. The introduction of the new contracts is a great success so far. With these products, the market participants are now able to trade the difference between the prices of two contracts of the same maturity with different delivery periods within the same market area.”
PEGAS is the central gas trading platform of EEX Group operated by Powernext. PEGAS provides its members with access to all products on one single platform and allows them to trade natural gas contracts in the Austrian, Belgian, Danish, Dutch, French, German, Italian and UK market areas. The product range of PEGAS covers spot and derivatives contracts for the major European gas hubs as well as trading in location and time spread products. This setup enables market harmonisation and forms the preferred pan-European natural gas market. For more information: www.pegas-trading.com