London, Amsterdam, 24 June 2011

Energy Exchange APX-ENDEX has announced the consolidation of its clearing services for Belpex with its other continental clearing services as of 15 June 2011. This is an important step in the process of finalising the integration between APX-ENDEX and Belpex.

As a result, cross-margining via unified collateralisation between the APX-ENDEX Power NL and Belpex Day-Ahead auctions and netting of Belgian and Dutch unrealised settlement is now in place.

This improvement results in significant collateral efficiencies for members. This latest development builds on the clearing improvements introduced across the Dutch power and gas and Belgian gas markets in October 2010. The project delivers further operational efficiencies and benefits to members with a single set of clearing rules, a single back office website, and a single banking infrastructure for members.

Further integration of APX-ENDEX clearing services and further integration between APX-ENDEX and Belpex is expected later in 2011.

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