Frankfurt-based Eurex has become the latest European exchange to push into power derivatives, agreeing to a new link with Germany’s European Energy Exchange as transatlantic rival Nasdaq OMX prepares to launch a similar market in the UK.

Eurex, which is co-owned by the German and Swiss exchanges, said it will allow its customers to trade the benchmark "Phelix baseload" futures and options and "Phelix peakload" futures on Leipzig-based EEX from November 25. The deal complements an existing link that has allowed Eurex's members to trade carbon emission rights on EEX since December 2007.