On 1 October 2021, the two gas markets GASPOOL (GPL) and NetConnect Germany (NCG) will merge into one German nationwide market area named Trading Hub Europe (THE). The Exchange Council stated its appreciation for the work undertaken by a number of EEX teams who have been supporting all market players and stakeholders, especially by providing trading solutions which will facilitate the smoothly merging of two hubs into one. Members acknowledged that the new nationwide German market area is a milestone for the further development of German gas trading, resulting in a uniform German reference price and bringing more liquidity and competitiveness. As the leading platform for gas trading in Germany, EEX will introduce 13 new zonal gas quality-specific products in the THE Spot market. Both physical gas futures and new financial gas futures (EGSI Futures) will be available for trading on the new THE market area.

In addition, the Exchange Council welcomed the positive development of the EEX Financial Gas Futures cash-settled against the European Gas Spot Index (EGSI) which were introduced in June 2021. EGSI Futures cover the whole curve from short term (Day Futures, Weekend and Week contracts) to longer term maturities (Month, Quarter, Season and Calendar Year). As they mirror power futures curves, they enable EEX members to trade the price difference between financial gas futures and existing highly liquid financial power futures via dedicated Spark Spreads. EGSI Futures have seen strong and rising interest across the European markets over the summer, attracting players from the traditional gas trading community and financial companies. Record participation rates were reported on the Dutch TTF hub and the first trade was also registered on the Austrian CEGH in the past weeks, paving the way for further liquidity.

Additionally, the Exchange Council was comprehensively informed about the annual self-assessment of the Exchange Management, which aims to ensure an appropriate and compliant operational set-up of the Exchange. Members welcomed the high level of compliance already reached.

During the meeting, the Exchange Council also appointed the following persons as panel members of the Sanctions Committee of EEX: Pierre Chevalier (DB Energie GmbH), Dr Jan Haizmann (EFET), Edgar Lang (Vitol S.A.), Volker Lischke (BKW Energie AG) and Dr Bernhard Walter (EnBW Energie Baden-Württemberg AG). The Sanctions Committee is a body of the Exchange which persues violations against the Exchange Act as well as the Rules and Regulations of the Exchange. They enforce the orderly conduct of trading and settlement of transactions.

In conclusion of the meeting, the long-standing chairman Dr Michael Redanz bid his farewell to the Exchange Council upon his retirement. The representatives of the exchange and the Exchange Council addressed their very special thanks to Dr Redanz for many years of support and profund advise, helping the exchange to grow from a national power exchange to a global energy and commodity platform.

The Exchange Council of EEX is an official body of the exchange under the German Exchange Act. This committee consists of a total of 24 members who are elected from among the trading participants in four voting groups in order to represent the various interests and businesses appropriately. The tasks of the Exchange Council include the formulation of the rules and regulations of the exchange and their amendments. The Exchange Council is also tasked with the supervision of the Management Board of the Exchange and the appointment of the Head of the Market Surveillance.