Moves: Sumitomo veteran Bob Takai moves to European Energy Exchange

European Energy Exchange AG

09/07/2020 12:41

TOKYO, July 9 (Reuters) - Bob Takai, a veteran in energy and
commodities with Japan's Sumitomo Corp,  8053.T  has joined the
European Energy Exchange (EEX)  DB1Gn.DE , taking a position
overseeing its activities in Japan where the bourse has started
a clearing service.
    The move will help boost the exchange's presence in Japan,
where the government has pushed through big changes in a roughly
$140 billion power market, following the Fukushima disaster of
2011.
    Takai will be based in Tokyo and report to EEX's Chief
Operating Officer Steffen Koehler, the European exchange said in
an emailed statement.
    In a career spanning about four decades with Sumitomo, Takai
has worked in commodities and energy, trading physical products
as well as derivatives and other areas.
    He was global head of research at Sumitomo until early 2018,
when he moved to Washington to head the Japanese trading house's
operation there.
    EEX earlier this year started a new trade registration
service for Japanese power futures, where trading has risen
sharply with market liberalization in Japan.  urn:newsml:reuters.com:*:nL8N2CX5OM
 urn:newsml:reuters.com:*:nL8N2D02R8
    EEX Japan Power Derivatives transactions totalled 104,520
megawatt hours in the first full month of trading in June, EEX
said in its statement.

 (Reporting by Aaron Sheldrick)
 ((aaron.sheldrick@thomsonreuters.com; 81-80-2677-4134;))