The European Energy Exchange (EEX) and IncubEx have announced a partnership to build and improve liquidity in environmental and other related contracts. In this framework, the partners aim to increase the number of active participants at the exchange and to create a global trading network. The cooperation involves existing environmental products and aims to continuously extend and improve the offering to clients.
EEX has established significant market share in the primary and secondary markets of the European Union Emissions Trading Scheme (EU ETS). Under the cooperation agreement, EEX and IncubEx will join forces in product development, marketing and sales to ensure close customer contact and to support market growth.
Additionally, EEX Group’s global network of exchanges and clearing houses will extend their trading and clearing offering to contracts designed and developed by IncubEx. The cooperation partners will work together on a global scale while initially focusing on European and US markets.
Peter Reitz, CEO of EEX, commented:
We are very pleased about further developing our markets in cooperation with IncubEx which marks an important step in further strengthening our market position in Environmental markets. IncubEx is a strong partner which has major experience in managing these product groups and a wide network of market participants. Furthermore, this cooperation will enable us to expand our global reach and, therefore, take us further towards our aim of becoming a global commodity exchange.
Neil Eckert, Chairman of IncubEx said:
The conclusion of this agreement with EEX is a defining moment in the development of our business. Establishing an agreement with a globally recognized and fast-growing exchange to list and clear our products is absolutely key and fundamental to our business plan. We look forward to collaborating with EEX and our global network of customers and stakeholders to develop our portfolio of products.
Michael MacGregor, CEO of IncubEx, concluded:
EEX’s presence in European energy is well-known and experiencing robust growth. Their progressive approach toward global expansion will allow us to access market opportunities and deliver essential products to our customers. EEX and IncubEx share a philosophy on the value and importance of strong customer relationships for continued product development and innovation.