* Italian power futures can be traded from April 7
* Will open office in Milan
LONDON, Feb 11 (Reuters) - German energy exchange EEX said it would introduce order book trading for the Italian power market from April this year, entering the market in competition with existing contracts offered by Borsa Italiana.
“From 7 April 2014, financially settled power futures for Italy can be traded as baseload and peakload products with week, month, quarter and year maturities,” the German exchange said on Tuesday.
The exchange, majority owned by Deutsche Boerse derivatives unit Eurex, also plans to open an office in Milan.
The registration of Italian power futures on EEX for clearing via European Commodity Clearing (ECC) has been possible since last October, and since then over 20 participants have registered more than 2 terawatt hours of power for clearing.
“Therefore, we have decided to expand our offering for Italian power and to also offer trading via the exchange order book of EEX in the future,” EEX Chief Executive Peter Reitz said in a statement.
The Italian Derivatives Energy Exchange (IDEX), part of London Stock Exchange subsidiary Borsa Italiana, launched Italian power derivatives in 2008 and currently offers baseload and peakload products for the month, quarter and year.
From March 19, market participants will also be able to register Spanish baseload power futures on EEX for clearing via ECC.