PEGAS is the central gas trading platform of EEX Group operated by Powernext. PEGAS provides its members with access to all products on one single platform and allows them to trade natural gas contracts on 12 hubs and in 9 countries. The product range of PEGAS covers spot and derivatives contracts for the major European gas hubs as well as trading in location spread products between these market areas. This setup enables market harmonisation and forms the preferred pan-European natural gas market.
The European Energy Exchange (EEX) intends to merge Powernext activities into EEX on 1 January 2020, subject to the required approvals. Through the integration of Powernext into EEX, the exchange will offer all products at one single market place while simplifying the admissions of new participants. Members will be able to easily trade a larger EEX portfolio including natural gas, power and emission allowances.
As a result, customers will gain access to increased trading opportunities and a growing liquidity pool, while continuing to benefit from cross margining effects as ECC will remain the central counterparty for clearing transactions. At the same time, current Powernext clients will be able to continue trading the natural gas portfolio upon admittance to EEX. Powernext will be incorporated into EEX, becoming a Paris based center of expertise, maintaining all stakeholder relations and know-how for natural gas markets and registry services.
Subject to required approvals, trading activities on thenatural gas platform PEGAS will be organised by EEX in the future, which will make trading at EEX Group easier for customers. This constitutes a significant milestone for the development of the Global Commodity Exchange group with a strong European footprint.