Leipzig, 20 July 2010

From today European Commodity Clearing AG (ECC) will offer clearing services for the Power Spot Market transactions concluded on the HUPX Hungarian Power Exchange (HUPX). The Hungarian power contracts are traded on HUPX in a day-ahead auction using the EPEX Spot “EPEX Trading System“ (ETS).

In addition to the daily nomination of power and natural gas volumes to as many as 16 European transmission system operators, ECC will, hence, safeguard physical settlement of the exchange transactions in Hungary from today. In addition, the HUPX trading participants will benefit from the standardised settlement processes of ECC.

“ECC is expanding its network of exchange partnerships towards eastern Europe for the first time“, Dr. Hans-Bernd Menzel, Chief Executive Officer of ECC AG explains, “and is thus making a contribution to the development of the market and to the further harmonisation of the exchange trading and settlement systems for energy in Europe."

In the context of the clearing cooperation, KELER CCP Ltd. (KELER) was approved as a new Clearing Member on ECC and will, hence, settle trading transactions on HUPX in the future.

With HUPX six exchanges are using ECC as their clearing partner today. ECC also provides clearing as well as physical and financial settlement of transactions concluded on APX-ENDEX, the CEGH Gas Exchange of Vienna Stock Exchange, the European Energy Exchange ( EEX), EPEX Spot and Powernext as well as clearing and settlement of transactions registered for OTC clearing on these exchanges.

European Commodity Clearing AG (ECC) is a clearing house whose range of services comprises clearing and settlement for exchange and over-the-counter transactions in energy. The Leipzig-based company was established in the year 2006 with the spin-off and transfer of the clearing activities of European Energy Exchange AG (EEX) to this subsidiary.

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