The European Energy Exchange AG said that 2005 will be the best year ever in the history of the company, and it will be profitable faster than expected.

The firm said that it has enjoyed a considerable increase in trading volumes on the spot and derivatives markets of the exchange as well as of a continuous increase in the number of national and international traders using the market.

Due to increased interest in derivatives trading it is opening the market place earlier – now, trading already commences at 8:30 am instead of at 9:00 am.

The firm also says that the development of the open interest – which corresponds to the total of all buy and sell offers which have not been included in a transaction yet – testifies to the further increasing confidence by traders in the EEX. As of November 30 the open interest amounted to more than 7 billion euros ($9.67 billion).

“Moreover, the considerable expansion of the clearing business in the course of the year underlines the increased acceptance and the confidence which the market has in the integrated clearing system of EEX,” it adds.

The firm will report an annual net profit for the first time ever against this positive background. “For this reason we will achieve the big milestone of the break even one year earlier than originally planned“, noted Hans-Bernd Menzel, the head of EEX.

Menzel said he sees the trading system for different products and the integrated clearing as a major strategic advantage, “Our trading participants can trade all derivatives and spot products by means of one single platform and get clearing as a one-stop service. Who else can offer this?”

In the field of power and emissions trading, the EEX has stepped up its commitment in central and eastern Europe and will also pay special attention to the new EU member states during the next year, it says. The EEX already has two Czech participants and one Slovak participant. Further eastern European companies are in the pipeline. In the course of the year, the number of trading participants increased from 123 to 130 companies from in total 16 countries.

In addition to its focus on eastern Europe EEX is also intensifying its activities in the western neighbouring countries. For example the exchange introduced OTC clearing for France at the end of August and the French Power Future which was launched at the same time will go into the delivery stage for the first time in January.