The cooperation will include the clearing of coal transactions both brokered by telephone and concluded via Amerex’s electronic platform.
This joint initiative is designed to increase liquidity as well as to encourage a number of new companies to join the financial coal market. The clearing of transactions through European Commodity Clearing (ECC), the EEX clearing house, will help companies to reduce credit risk.
EEX is the first energy exchange in Europe to offer trading in coal futures and clearing of exchange transactions as well as coal futures concluded outside the exchange. The contracts will be settled against indices for deliveries at Amsterdam, Rotterdam, Antwerp and Richards Bay, South Africa.
