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The European Energy Exchange (EEX) successfully continued its growth course and achieved new record volumes in its markets in the first half of 2016.
In the first six months of the year, a volume of 2,247.8 TWh was traded on the Power Spot and Derivatives Markets (1st half of 2015: 1,422.1 TWh), which corresponds to a 56% increase as against the previous year.
On the EPEX SPOT Power Spot Markets, a total volume of 277.2 TWh was traded (first half of 2015: 237.5 TWh). From 4th May 2015 onwards, this included the volumes of APX, including Belpex, which was integrated into EPEX SPOT in 2015 as well as the SEEPEX volumes as of 17 February 2016. After consideration of the volume which was traded at APX in 2015 before the integration, a total volume of 280.5 TWh was traded on the Power Spot Markets of the Group in the first half of 2015.
The Power Derivatives Markets accounted for a share of 1,970.6 TWh of the total volume, which corresponds to a 66% increase against the previous year (1st half of 2015: 1,184.6 TWh). This development was primarily driven by the markets for Germany (1,322.0 TWh, +54% compared with the same period in 2015), France (239.8 TWh, +91%) and Italy (262.5 TWh, + 59%). On all of the markets specified, EEX was able to further increase its market share for the month of June from 32 to 36% in Germany, from 23 to 25% in France and from 48 to 63% in Italy. EEX also achieved a considerable growth in Spanish Power Futures: At 34.5 TWh, the volume increased more than fivefold (1st half of 2015: 6.0 TWh), resulting in a market share of 34% for June 2016. Furthermore, at 98.9 TWh, the volume in power options more than tripled (2015: 26.4 TWh).
At the end of May 2016, the Prague-based POWER EXCHANGE CENTRAL EUROPE (PXE) became a part of EEX Group. As a result, the product offering of the Group has been expanded with products for the Czech Republic, the Slovak Republic, Hungary, Poland and Romania.
On the natural gas markets of the PEGAS trading platform and of Gaspoint Nordic, a volume of 954.6 TWh was traded in the first half of 2016 (2015: 443.7 TWh). As a result, the volume more than doubled compared to previous year. On 30th March, PEGAS launched trading of hourly products for the German GASPOOL and NCG market areas as well as the Dutch TTF market. By 30th June, a total volume of 1.9 TWh was traded in these new products. In the course of 2016, the products which are offered by the Danish Gaspoint Nordic and the Austrian CEGH gas exchange will also be migrated to the PEGAS platform. As a result, the customers will be provided with an even more comprehensive gas trading offering as a one-stop-shop solution.
On the markets for emission allowances a total of 468.6 million tonnes of CO2 were traded in the first half of the year (1st half of 2015: 315.1 million tonnes of CO2), including 338.2 million tonnes of CO2 from the primary market auctions (previous year: 296.7 million tonnes of CO2). On the secondary market, EEX was able to significantly increase volumes as against the previous year. At 130.1 million tonnes of CO2, trading volumes on the Spot and Derivatives Market rose by more than 7 times (1st half of 2015: 18.4 million tonnes of CO2).
On the Agriculturals markets, in total 22,955 contracts were traded in the first half of the year 2016. Since the migration of the Agricultural Derivatives Contracts from Eurex in May 2015, the derivatives contracts on the market for dairy products, in particular, developed positively. From January to June 2016, 42,485 tonnes of commodity equivalent (which corresponds to 8,497 contracts) in futures on butter, whey powder and skimmed milk powder were traded on EEX. As a result, the trading volume in these products was +454 percent above the trading volume in the first half of 2015 on EEX and Eurex. This already represents a 45% higher volume than the total volume achieved in the record year of 2015.
Within the Global Commodities segment, trading in iron ore, in particular, developed positively on Cleartrade Exchange (CLTX) which is now a wholly owned EEX subsidiary. At 175.6 million tonnes, the trading volumes in this segment more than doubled compared to the previous year (1st half of 2015: 86.7 kilotons). In the first half of 2016, 204.8 thousand contracts in futures on freight rates were traded on CLTX which corresponds to an 11% increase year on year. EEX also recorded first freight transactions registered for clearing at ECC via the Trade Registration Service in the second quarter.