Clearing Bank Hannover goes into liquidation

CBH, which is owned by three German banks - Commerzbank, Norddeutsche Landesbank and Vereins- und Westbank - was set up in 1998. The bank's energy clearing partners were brokers, GFI, Prebon Marshall Yamane and APB Energy Europe –which was bought out by Icap in October 2002.

An industry source said the continued success of CBH's German-based rival, the European Energy Exchange (EEX), was a significant reason behind the decision by CBH’s owners to abandon the venture.

But CBH chairman Udo Ziegenhorn told RiskNews' sister publication Energy & Power Risk Management that low turnover and the withdrawal of US energy trading companies from Europe had had a negative impact on CBH's energy clearing business. Ziegenhorn declined to comment on how many traded megawatt hours were cleared on the exchange, but did say CBH is in talks with EEX to transfer existing contracts.

Norddeutsche Landesbank will take over CBH's agricultural clearing duties, Ziegenhorn added.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here