The Vienna Stock Exchange announced on Friday that its gas trading platform will commence operations in spring 2010, emphasizing that this will enhance the level of supply security in Europe and intensify competition in the Austrian gas market.
At a ceremonial event in Vienna, the green light for the start of trading at the Central European Gas Hub of the Vienna Stock Exchange (CEGH) was given by Austrian Minister of Economy Reinhold Mitterlehner, OMV Executive Board member Werner Auli, Vienna Stock Exchange Director Heinrich Schaller, and CEGH General Director Harald Wüstrich. "The opening of the CEGH Gas Exchange as part of the Vienna Stock Exchange represents another significant milestone in the creation of a European gas market and greatly strengthens the energy trading sector in Austria, while enhancing gas supply security based on market factors," said the Austrian Minister of Economy at the ceremony. The Vienna Stock Exchange plans for CEGH to stand alongside the largest gas trading platforms in continental Europe and to facilitate access to gas trading, according to the statement. Trading on the CEGH Gas Exchange of the Vienna Stock Exchange will be conducted via the XETRA electronic system. CEGH will be responsible for the market and consumer relations, while overall market supervision will be carried out by the Vienna Stock Exchange. (H)
