1. CEGH GAS EXCHANGE

2. AMBITIOUS TIME SCHEDULE FOR SPOT, BUT …
Gas exchange will use existing XETRA©-securities-IT-infrastructure and –knowledge of WBAG
Gas exchange will have a lot of similarities to EEX setup
Gas exchange will use industry standards (e.g. Trayport / Globalvision Gateway)
Gas exchange will use existing hub operator and OTC know how of CEGH
STILL ANY RISKS? …
Pre-requisite for virtual delivery point Baumgarten is conclusion of an Operational Balancing Agreement (OBA)  August 2009?
Pending approval of spot-market by Ministry for Economic Affairs  July 2009?
Pending approval of joint venture by DG COMP  Autumn 2009

3. PROJECT TIME TABLE SPOT (XETRA®) – Market start: 4th of September 2009
16th of February 2009: Kick Off Meeting – Vienna – 01:30 pm
March/ April 2009: 3 Working sessions (sub-groups: Trading, Clearing, IT)
End of February 2009: Connectivity concept
During Q1+April 2009: Internal setup (interfaces, …)
End of May 2009: Finalization rules & regulations for spot market
XETRA® Release v10: June 2009
Mid of June 2009: English version available
End of June 2009: Approval by Austrian Ministry for Economic Affairs
Member readiness: 15th of July 2009
Market Simulation: July + August 2009
START: 4th of September 2009 (Friday)
FUTURES – Market start: Q1/2010