APX-ENDEX is one of Europe’s most experienced energy exchanges, operating spot and futures markets for electricity and natural gas in the Netherlands, the United Kingdom and Belgium.

APX-ENDEX facilitates the development of liberalised and integrated energy markets in Northwestern Europe by providing an efficient, transparent and secure electronic trading environment for the trading of electricity and natural gas. Established in 1999, the company provides market data and a range of indices for use by traders, energy suppliers and energy-intensive industries.

As Europe moves closer towards realising the EU vision of an integrated market, APX-ENDEX actively works together with its members, other exchanges and TSOs in its own and neighbouring countries to provide integrated trading solutions, such as the market coupling concept and cross-border trading solutions.

APX-ENDEX had a leading role in the introduction of market coupling (or implicit cross-border capacity auctioning), which optimises the use of available transmission capacity. Together with other exchanges and TSOs, APX-ENDEX has introduced market coupling for the Dutch, Belgian and French spot power markets. Proven to be highly successful, the concept is now planned to also include the German and Luxembourgian markets within the Central Western European (CWE) market coupling project. Market coupling with Norway and the broader Nordic region is foreseen through NorNed, the electricity cable that is operational between the Netherlands and Norway. APX-ENDEX is also developing market coupling on the BritNed electricity cable, linking the Netherlands and the United Kingdom, which is to go live early 2011.

This market coupling will bring new liquidity to the UK electricity market by the linkage of APX-ENDEX's Power UK spot market to the very liquid Power NL spot market and beyond to Germany, Belgium, France and Norway.

APX-ENDEX is also actively working on integration of the gas markets and has become the major European gas exchange. Based on its position as the most experienced and most liquid gas exchange in Europe by trading on three gas hubs (TTF, NBP and Zeebrugge), APX-ENDEX aims at creating an integrated gas market for Europe.

In 2009, the futures markets of ENDEX were integrated with APX. In the integration process a new name was introduced, combining the strong presence of APX Group on the spot markets and ENDEX on the futures markets into a fully integrated spot and derivatives energy trading solution. The new name APX-ENDEX and a corresponding logo were introduced in the 10-year jubilee celebration on 18 June 2009. Despite the economical crisis, the integrated company enjoyed a 26% growth in 2009.

In 2010, the merger of Belpex with APX-ENDEX was announced. The integration merger is seen as an important contribution to the consolidation of energy exchanges in Europe. After the merger, APX-ENDEX including Belpex will have 4 shareholders being the transmission system operators of gas and power in Belgium and the Netherlands.

The combined power and gas volume of APX-ENDEX was 412 TWh in 2009. At the end of 2009, the exchange had over 300 memberships from more than 15 countries.

APX-ENDEX is a market-driven exchange: it operates its products for the market and introduces new products at the wish of market participants. Therefore the company has established Gas & Power Development Boards for both continental Europe and the United Kingdom. Members of the exchange have a seat in these Development Boards and render advice to the APX-ENDEX Executive Board regarding product development and trading conditions. In case the Member Boards and the Executive Board are in disagreement they can decide to escalate the matter to the Supervisory Board of APX-ENDEX.

The shareholders of APX-ENDEX are TenneT Holding B.V., owner of TenneT TSO B.V., the Dutch Transmission System Operator (TSO) of the high voltage electricity grid, N.V. Nederlandse Gasunie, a gas infrastructure company and owner of Gas Transport Services (GTS), the Dutch Gas TSO, and Fluxys S.A., the Belgian gas TSO. TenneT Holding B.V. holds 70.06%, N.V. Nederlandse Gasunie 26.10% and Fluxys S.A. 3.84% of shares of APX-ENDEX.

TSO ownership of a gas and/or electricity exchange is common practice in many other European countries, motivated by the need to optimise the available grid capacity with respect to market conditions, physical characteristics and constraints. More broadly, it fits with an important objective of fully independent and unbundled grid companies to promote an efficient, transparent and liquid energy market in North West Europe. In addition, this ownership structure guarantees a fully independent operation of the exchange.

APX-ENDEX is a shareholder (10%) and service provider of Belpex, the Belgian power exchange, launched in November 2006. In addition, APX-ENDEX provides third-party services for the clearing and delivery of energy or energy-related products such as carbon trading and auctioning.

APX-ENDEX operates from offices in Amsterdam (headquarters), London and Nottingham.

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