EEX opens new trade registration platform for OTC deals

FRANKFURT (Reuters) - The EEX Group said on Tuesday is had launched a new trade registration platform called Touchpoint to ease the process of registering over-the-counter (OTC) trades across all EEX markets.

The EEX, Europe's leading electricity bourse that has branched out into more regions and products, said Touchpoint would allow brokers, trading and clearing members using the bourse to register OTC trading on behalf of customers more easily.

In Europe's wholesale energy market, OTC trades for spot and long-term positions still dominate volumes, but regulated marketplaces such as EEX are gaining more traction as they offer price transparency and integrated clearing.

The new tool comes as energy markets are seeing significant price volatility on concerns that Russia will curb gas flows to Europe further, while suffering from technical and weather-related issues at French nuclear plants and drought affecting coal deliveries.

As a consequence of the volatile market environment, trade margins that must be deposited with its clearing house ECC have increased significantly, which poses financial challenges and has thinned turnover.

Chief Operating Officer Steffen Koehler said Touchpoint would help customers to better navigate the difficult times because it included risk management and analysis functions to track their OTC workflows.

EEX counts 800 trading participants in asset classes including power, gas, emissions, dry freight and agriculture.

(Reporting by Vera Eckert, editing by David Evans)