ABN to offer centralised power and gas clearing platform
Dutch bank ABN Amro today said it’s energy futures division is developing a platform to provide centralised over-the-counter (OTC) clearing for natural gas and power contracts at six European energy exchanges – UKPX, EEX, Endex, Powernext, IPE and Nordpool.
“Current approaches to natural gas and power clearing require varying degress of manual intervention,” ABN said in a statement. “This initiative addresses the current drive in the energy industry to mitigate risk and improve transparency through substitution of a central cleared counterparty.”
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