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

In: Risk Management

Author

Listed:
  • Christian Geyer

    (European Energy Exchange AG)

  • Werner G. Seifert

    (Deutsche Börse AG)

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.

Suggested Citation

  • Christian Geyer & Werner G. Seifert, 2005. "Introducing New Risk Classes to Organized Exchanges: The Case of Electricity Derivatives," Springer Books, in: Michael Frenkel & Markus Rudolf & Ulrich Hommel (ed.), Risk Management, edition 0, pages 651-670, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-26993-9_33
    DOI: 10.1007/3-540-26993-2_33
    as

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