The European Energy Exchange (EEX), a prominent entity within Deutsche Boerse, is making waves with its bid to acquire Nasdaq’s European power trading and clearing business. This bold move, however, has caught the attention of EU antitrust regulators who are highlighting its pivotal role in shaping Europe’s energy market dynamics.
In a surprising twist, the European Commission, the watchdog safeguarding competition across the 27-country European Union, has been tapped by Denmark, Finland, Sweden, and Norway to thoroughly assess this deal. This request, although unconventional, underscores the deal’s significance, even though it doesn’t meet the standard EU merger rules based on turnover thresholds.
In an agreement unveiled in June, Nasdaq is set to shift its existing open positions in Nordic, French, and German power futures, as well as European carbon emission allowance futures (EUAs), over to EEX’s European Commodity Clearing (ECC).
Steering the helm of Europe’s electricity and natural gas exchange, EEX boasts a noteworthy 800 participants under its umbrella.
Interestingly, the Commission underscores that these two companies stand as the exclusive facilitators of services enabling on-exchange trading and subsequent clearing of Nordic power contracts. As this transformational transaction enters the spotlight, it’s poised to reshape the energy landscape across the continent.
Source: Reuters
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI