June 23, 2024
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Slovenia: ECC acquires clearing business of BSP energy exchange

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European Commodity Clearing (ECC) will acquire the clearing business of BSP Energy Exchange in Slovenia.

ECC will take over clearing services for BSP power spot intraday continuous and day-ahead customers, the two companies said in a joint press release last week. Subject to successful testing and external stakeholders’ readiness, ECC will start clearing and settlement on April 16.

“Risk management for power markets in the Central, Eastern and Southeastern European region has significantly gained in importance over the past years. With the provision of clearing services for the Slovenian power spot market, we will be able to offer comprehensive and reliable services to trading participants active in these markets,” Tobias Paulun, CEO of ECC, said.

ECC clears a wide range of power future contracts for the Central, Eastern and Southeastern European markets which are listed on the European Energy Exchange (EEX) platform alongside further power futures, adding up to 21 European countries in total.

In combination with the ECC-cleared power futures for this region as well as further products offered by EEX Group, participants can benefit from harmonised processes and interfaces and significant margin savings, Paulun added.

BSP operates a physical day-ahead market and intraday market with market coupling services in Slovenia and local and cross-border clearing and settlement services.

In 2023, its 34 members traded 11.5 TWh with an annual clearing turnover of 1.6 billion euros ($1.7 billion). BSP is part of the Alpine-Adriatic Danube Power Exchange – Adex, which is the first regional power exchange for central and southeastern Europe.

“For the benefit of our customers, BSP, who for the last 16 years successfully provided clearing services on the Slovenian local power spot market and cross-border settlement with neighbouring CCPs, transfers its clearing business to one of the leading pan-European clearing service providers,” Anze Predovnik, general director of Adex Group and Director of BSP, said.

“Operation of clearing services at ECC will enable our clients to cease collaterals at BSP and, at the same time, gain from the extended clearing network of ECC. It will increase the robustness of provided services, and it will deliver a broader portfolio of products to Slovenian market participants. Hence, we look forward to the successful transfer,” Predovnik added, seenews reports.


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