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The Exchange Council debated recent changes in the discussions on the EU electricity market design reform and its potential impact on the market. Here, the Council welcomed in particular the request by the European Parliament to conduct prior impact assessment for virtual trading hubs. As regard to the REMIT reform, the Council expressed its concern on the Parliament’s position requiring non-EU market participants to set up an office in the EU. Such a proposal would act as a considerable market access barrier prompting many non-EU firms to refrain from trading European wholesale energy products negatively affecting liquidity and security of supply. The Council agreed to continue to closely follow the developments of these discussions, as well as the developments in the field of MiFID II, in addition to German proposals on industry electricity tariffs.

The Exchange Council furthermore expressly welcomed positive updates on recent product launches. These included the successful introduction of new power derivatives products by EEX in June, including Swiss Peak Futures, Japanese Day Futures and the first Croatian power products. The new offerings were developed in close cooperation with local market participants, an approach that has proven to be working well as these products were all traded within the first four weeks after launch. In addition, recently introduced improved functionality of the Touchpoint trading platform was also well received by the Council members.

The Exchange Council was also pleased to see the positive results of the annual self-assessment of EEX’s compliance with the MiFID II requirements, a necessary process for trading venues allowing or enabling algorithmic trading. The compliance of EEX with the MiFID II requirements does not only build trust in the market, but it particularly proves EEX’s capability to ensure orderly exchange trading even in tense market situations as seen in 2022, caused by the strong uncertainties regarding the energy supply and the resulting high volatility of prices for energy products.

Finally, the Exchange Council welcomed Tim Pirnay, E.ON Energy Markets GmbH, elected as a new member to the Council, who complements the group of "Producers, suppliers, processors and distributors”.

The Exchange Council of EEX is an official body of the exchange under the German Exchange Act. The Board consists of a total of 24 members, who are elected from among the trading participants in four electoral groups in order to adequately represent the various business communities. The Exchange Council mainly adopts the Exchange’s rules and regulations and their amendments. In addition, the body appoints and supervises the Management Board of the Exchange and appoints the Head of the Trading Surveillance Office.