News: 05.02.2008 11:30
New investment company in Luxembourg
Luxembourg-based Atel Derivatives S. à r.l. was granted a licence to operate as an investment company on 15 January 2008. The new company is a fully-owned subsidiary of Aare-Tessin Ltd. for Electricity (Atel) and is managed by Marcel Gutknecht and Christoph Graf.
Atel strengthens Europe-wide business in energy-related financial services and financial products
Atel is expanding its leading position as a Swiss energy trader within the EU. Luxembourg-based Atel Derivatives S. à r.l. will offer Atel Group customers throughout the European Union financial services and products related to energy derivatives. This includes, for example, acting on behalf of clients on energy exchanges and broker platforms, as well as financial portfolio management. Since 1 November 2007 energy derivatives have come under EU Directive 2004/39 on Markets in Financial Instruments (MiFID), according to which services of this type can only be provided within the EU by licensed investment companies.
The new company strengthens Atel's trading business in Europe. For the two designated directors Marcel Gutknecht and Christoph Graf, the benefits are obvious: "Through this new company we can add value for our clients and Atel sales companies in the EU. We are proud to be the first Swiss energy trader to obtain a MiFID licence in Luxembourg." According to the action plan for financial services, the MiFID Directive will improve the common legal framework for securities services and regulated markets, and in so doing serve two important objectives:
Firstly it will protect investors and ensure a unified market by imposing standardised requirements on the activities of licensed dealers; and secondly, the directive promotes the fairness, transparency, efficiency and integration of financial markets.
Download a high-resolution image of Marcel Gutknecht ZIP (513 KB)
Download a high-resolution image of Christoph Graf ZIP (343 KB)
Aare-Tessin Ltd. for Electricity
Alpiq Holding AG / Aare-Tessin Ltd. for Electricity (Atel)
Aare-Tessin Ltd. for Electricity (Atel) is the leading production-based energy service provider in Switzerland and operates at a pan-European level. Founded in 1894, Alpiq focuses on the two core businesses of production-based Energy Trading and Energy Services. The group of companies, domiciled in Olten, employs a staff of around 8700 and generated a turnover of CHF 11.3 billion in 2006. Its main markets in the energy sector are Switzerland, Italy, Germany and the Central and Eastern European countries. Its goods and services range from portfolio management and group energy supplies, to energy derivatives and option contracts, to establishing distribution concepts involving other partners. Trading and sales are supported by a number of proprietary hydraulic and thermal power stations plus a broadly ramified transmission grid. With its Energy Services Division, Alpiq provides all technical services pertaining to energy (electricity, gas, oil and biomass) and its uses as power, lighting, cooling and heating, communication and security. Alpiq is among the leading providers of Energy Services in both Switzerland and Germany.