Marex Financial Limited, a subsidiary of global commodities broker Marex Spectron Group Limited, has become a member of European Commodity Clearing (ECC), a central clearing house for energy and related products in Europe, and ICE Endex, Intercontinental Exchange’s continental European energy exchange for natural gas and power markets.
The admission to ECC will allow Marex Financial to provide clearing services for all ECC Non-Clearing Members and to all Marex Spectron clients while membership of ICE Endex authorises Marex Financial to clear trades on that exchange on behalf of its clients or other trading participants.
The ECC license covers all products and markets settled by ECC, which includes transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Gaspoint Nordic, NOREXECO, Powernext, Power Exchange Central Europe and SEEPEX.
Jeremy Elliott, Energy Managing Director, Marex Spectron, said:
Becoming a member of ECC and ICE Endex is a critical step in developing the service that we provide our clients, and the extension of our existing commodity clearing services to European power and gas reflects our deep commitment to these markets.”
Marex Spectron’s portfolio of global clearing services processes around 1 million contracts daily.