ECC establishes Risk Committee
On Thursday, 13 September 2012, the constituent meeting was held in Frankfurt. All members of the Risk Committee have comprehensive expertise and long-standing experience in the clearing and financial sector.
The committee consists of the following members:
- Professor Harald R. Pfab (Chief Executive Officer of Sachsen Bank),
- Jürg Spillmann (Deputy Chief Executive Officer of Eurex Clearing AG),
- Vincent van Lith (Listed Derivatives Head of Energy of Deutsche Bank AG),
- Bertrand Meyer (Deputy Global Head of BNP Paribas Commodity Futures) and
- Uwe Schulz (Chief Risk Officer der RWE Supply & Trading GmbH).
Jürg Spillmann assumes the position of the chairman of the committee for a term of office of one year.
The new Risk Committee will discuss all questions which are relevant for the clearing house's risk management and risk strategy. As an independent panel of experts, the Risk Committee reports directly to the ECC Management Board and issues recommendations for it. These recommendations include, in particular, the criteria for the admission of Clearing Members and the inclusion of clearing for new product classes or markets, advice in the event of major changes to the risk and margin model and the procedure in the event of the default of Clearing Members (default process) as well as advice with regard to the outsourcing of essential functions.
European Commodity Clearing AG
European Commodity Clearing AG (ECC) is the central clearing house for energy and related products in Europe. In its function as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on APX-ENDEX, CEGH Gas Exchange of Vienna Stock Exchange, EEX, EPEX SPOT, HUPX and Powernext or registered for OTC clearing on these exchanges.