Introducing New Risk Classes to Organized Exchanges: The Case of Electricity Derivatives

Christian Geyer and Werner G. Seifert
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Christian Geyer: European Energy Exchange AG
Werner G. Seifert: Deutsche Börse AG

A chapter in Risk Management, 2005, pp 651-670 from Springer

Abstract: Abstract This article describes the new paradigms that have emerged with respect to the infrastructure of capital markets, and explores why Deutsche Börse intends to capitalize on these new developments by establishing an exchange for energy derivatives: (1). Market liberalization makes it feasible to use existing financial instruments for new risk classes in electricity (2). Deutsche Börse intends to utilize its new understanding of its own role and its new capabilities to develop the energy market (3). Deutsche Börse intends to further expand into new markets (4). Deutsche Börse will no longer be an exchange in the traditional sense, but instead a developer and operator of trading platforms in a market economy that has undergone extensive deregulation.

Keywords: Energy Derivatives; Exchange; Deregulation; Deutsche Börse; New Risk; Classes (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-26993-9_33

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DOI: 10.1007/3-540-26993-2_33

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