Vladimír Urbánek (Kurzy.cz)
Markets  |  February 15, 2013 09:47:05

Trading volumes on the PXE further declined last year


PXE, subsidiary of the Prague Stock Exchange, Inc., was established on 2 July 2009 change in the legal form of the Prague Energy Exchange, which was established on 8 January 2007 pursuant to Act No. 229/1992 Coll. on commodity exchanges and registered on 5 March 2007 in the Commercial Register. The founders were next to the Prague Stock Exchange its two subsidiaries - Central Securities Depository, Inc. (formerly UNIVYC), and CENTRAL COUNTERPARTY, Inc. (formerly Central Depository). In connection with the change of the legal form of the original company Prague Energy Exchange on 15 July 2009 deleted from the Commercial Register.

PXE was established as a specialized commodity exchange for trading in electricity, in the form of commodity futures with physical delivery or financial settlement or through spot contracts with physical settlement. This is a typical wholesale market in which they participate, particularly banks and licensed electricity traders. Exchange started trading in July 2007. Traded products are defined by a combination of standardized parameters, in particular the type of product (base load / peak load), the type of settlement (physical / financial), length delivery (month / quarter / year) and the delivery period.

PXE expanded in October 2008 the Slovak electricity trading. In another milestone can be described in March 2009, when the start of trading in the Hungarian electricity.At present time, the subject of trading in electricity with PXE place of delivery in the Czech Republic, the Slovak Republic and Hungary. Financial futures exchange settled introduced into its business practices in February 2010. In February 2011, in cooperation with OTE and the possibility of extended trading on bidding for the purchase and sale of OTE in the day-ahead market for physical delivery. Common daily market OTE and PXE in the Czech Republic are registered for trading hourly products and takes the form of auctions in the OTE. Settlement of trades on this market follows the stock exchange regulations and PXE Business Terms of OTE.

The volume of futures trading exchanges since the establishment year decreased from 34,368,318 MWh in 2007 (about 4,700 contracts) to 24,306,334 MWh in 2010 (about 7,600 contracts).In 2011, the annual volume stabilized at a level almost identical to that of the previous year (24,343,699 MWh, about 8,700 contracts) and in 2012 dropped to 19,827,725 MWh (about 7,800 contracts). The volume of spot transactions in 2010 accounted for 83,712 MWh (about 3,900 contracts), in 2011, 31,355 MWh (about 1,300 contracts). In 2012 already spot trading on the PXE were printed. Add to product list futures on the place of delivery of the Czech Republic, traded on the PXE in 2013, no longer included products with physical settlement. Possibility of trading ended on November 29, 2012.

Trading on PXE is in the electronic system continuously or auction way exchange gatherings are held on all working days of the year. The Exchange has a total of 45 trading participants from ten European countries.PXE is the only commodity exchange in the Czech Republic produces traders central counterparty. Trading on the PXE provides its subscribers certainty and safety to compensate for the increased financial demands. Its full functionality PXE showed a significant fall in electricity trader, of Moravia Energo, sro

Price information is PXE (following the Leipzig Stock Exchange, which is dominant in Central Europe) determines wholesale electrical energy market in the Czech Republic are a significant price signal for Slovak and Hungarian markets.

Representative of the Ministry of Industry and Trade of the Czech Republic in three-member exchange chamber is JUDr. Bohumil Havel, Ph.D. State supervision over PXE by the Ministry of Industry and Trade and commodity derivatives, which are investment instruments, the Czech National Bank.

Contact: www.pxe.cz

Source: TZ MIT

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