EEX European Energy Exchange : PEGAS to launch time spread products on its Futures Markets in January

PEGAS, the pan-European gas trading platform operated by
Powernext, has announced the introduction of time spread contracts on its futures
markets on 24 January in order to further support its growth in derivatives. The new
products will be available through the Trayport Global Vision trading platform, as well as
the Straight Through Processing (STP) registration service for OTC trades, on all
PEGAS hubs (CEGH VTP, ETF, GASPOOL, NBP, NCG, PEG Nord, PSV, TRS, TTF,
ZEE and ZTP).

PEGAS currently offers location spread products between its Austrian, Belgian, Danish,
Dutch, French, German, Italian and UK market areas.

The new products will enable PEGAS members to trade two contracts of the same
maturity with different delivery periods within the same market area (e.g. buy summer
season / sell winter season). Time spreads across maturities, for example
month/quarter, and across delivery areas are not being made available. The maturity
range covers monthly, quarterly, seasonal and calendar instruments.

Richard Katz, Director of Sales at Powernext, comments: 'These time spread contracts
expand the range of PEGAS derivatives offer and fully support the trading strategies of
our market participants. Furthermore, the members authorised to trade in a particular
market area will automatically be able to trade the new contracts on that market area
without any additional fees and paperwork.'

PEGAS is the central gas trading platform of EEX Group operated by Powernext.
PEGAS provides its members with access to all products on one single platform and
allows them to trade natural gas contracts in the Austrian, Belgian, Danish, Dutch,
French, German, Italian and UK market areas. The product range of PEGAS covers
spot and derivatives contracts for the major European gas hubs as well as trading in
location spread products between these market areas. This setup enables market
harmonisation and forms the preferred pan-European natural gas market.

For more information: www.pegas-trading.com