The pan-European gas trading platform PEGAS, operated by Powernext has announced the successful launch of new spot and futures contracts on the Danish ETF (Exchange Transfer Facility) on Thursday 17 November 2016.
This launch completes the process announced in July 2016 where Powernext acquired 100% of Gaspoint Nordic from EEX and Energinet.dk. Gaspoint Nordic is now an integral part of the PEGAS offering, a natural evolution towards further integration of the two companies.
For the go-live date of 17 November, all 13 members of Gaspoint Nordic were admitted on PEGAS and ready to trade on ETF spot and futures. The total traded volume on ETF as of Wednesday 23 November has reached 404,880 MWh on the spot segment and 37,200 MWh on the front month contract.
Jacob Pedersen , CEO of Gaspoint Nordic, commented:
The feedback of our members is very positive as the product offering has been extended and fully incorporated on the PEGAS platform where most members are already active.
Dr. Egbert Laege , CEO of Powernext, added:
The Gaspoint Nordic and Powernext teams have worked hard to make this launch a reality in a short span of time. The inclusion of the ETF in the PEGAS offering further increases the efficiency of the European gas market. This is beneficial for our clients and finally for the end consumer.