LCH.Clearnet says that its energy service handled a record 20.6 terawatt hours in European power contracts during July. The clearing house claims this demonstrates the value it is adding to the energy derivatives markets.
“We are delighted to see this acceptance of central counterparty services across such a broad sweep of European trading activity,” says Richard Heyman, Director – Customer & Market Management at LCH.Clearnet.”As volumes are becoming ever more significant, the provision of margin offset, enabling members to maximise the benefits of a central counterparty service, is all the more desirable and is a goal towards which we are actively working.”
Tim Knight, Managing Director – BNP Paribas Commodity Futures, says the bank is “pleased to be able to play an active role in cementing LCH.Clearnet as a leading pan-European clearing house in these markets.”