Prague Stock Exchange (PSE) is the largest and oldest organizer of the securities market in the Czech Republic. PSE and its subsidiaries form the PX Group. In addition to the Exchange, the most important member in the Group is Central Securities Depository Prague (CSD Prague) which has a dominant position in the area of settlement of securities trades on the Czech capital market. PX Group also co-operates with POWER EXCHANGE CENTRAL EUROPE (PXE) which offers power and gas trading.