Non-MTF products may let energy firms escape Mifid II
Critics slam 'loophole' as Germany's EEX launches new power and gas instruments
The recent launch of power and natural gas contracts crafted to help European Union energy firms avoid the onerous requirements of the reworked Markets in Financial Instruments Directive (Mifid II) is raising eyebrows, as critics contend that the new products are exploiting a loophole in EU regulations.
On July 1, the Leipzig-based European Energy Exchange (EEX) and Paris-based Powernext, in which EEX owns a majority stake, introduced a suite of physically settled power and gas derivatives to be
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