Role of EXAA
Taking advantage of the full liberalisation of the Austrian power market, Energy Exchange Austria (EXAA), in its role as the Austrian energy exchange, opened in March 2002 for trading in the electricity spot market. In the summer of 2005 this was followed by the launch of the spot market for CO₂ emission allowances.
Next to the standard responsibilities of an exchange, EXAA also serves as the central counterparty for all trades and is responsible for the clearing and settlement of all financial transactions.
Role of OeKB
EXAA has appointed OeKB to execute the financial clearing, risk management and credit assessments.