We do not agree with the view that a system where on one side of any trade (buy side or sell side) there is always the same party should be considered multilateral simply because the system is operated by a third party (draft ESMA opinion no. 24).
Europex explicitly welcomes and fully supports the Commission’s legislative proposal to extend the derogation in Article 199a of the VAT Directive allowing Member States to apply the domestic reverse charge mechanism (DRCM) to transactions in electricity, gas, emission allowances and Guarantees of Origin (GOs).
Europe is currently facing a severe shock to its energy markets, the reasons for which are diverse, ranging from global demand and supply fundamentals in the early stages and now strongly influenced by the Russian invasion of Ukraine.
In response to the Russian government’s actions against Ukraine, the General Assembly of Europex has decided to exclude the Saint Petersburg International Mercantile Exchange (SPIMEX) from Europex, effectively terminating their associate membership as of today.
We would like to express our concern that the European Commission may be considering intervention in the ETS, either through position limits or some other action, ahead of the publication of ESMA’s final report on the EU Carbon Market.
Europex is fully aligned with the core objectives of the Principles to ensure that commodity derivatives markets can serve their fundamental role of facilitating fair and efficient price discovery and hedging in a transparent, secure and well-regulated trading environment, while remaining free from market manipulation and other abusive practices.
ETPA, Energy Trading Platform Amsterdam, has joined Europex as a Full Member as of today. With the inclusion of ETPA, Europex now counts 30 members across Europe.
The General Assembly of Europex elected the Chairperson, Board and the Heads of the four Working Groups: Power Markets, Gas Markets, Environmental Markets and Financial Markets. Those elected will serve a two-year mandate from 2022-2023.
Europex welcomes this coordinated approach and urges Member States to implement consumer protective measures which do not negatively impact the well-functioning and proven welfare benefits of the IEM.
In reaction to increased energy prices, some EU Member States have put in place or are considering temporary national measures and suggest various fundamental reforms to the design of European wholesale energy markets. Europex is concerned that some measures may damage the competitiveness and efficiency of the Internal Energy Market.
Rue Archimède 44
1000 Brussels
Belgium
You need to load content from reCAPTCHA to submit the form. Please note that doing so will share data with third-party providers.
More Information