NGX, ICE Form North American Technology And Physical Clearing Alliance

Posted on Friday, March 30 at 09:22 by jensonj
NGX's highly effective clearing and settlement model has achieved unparalleled success in facilitating physical energy transactions, giving Canada exceptional liquidity in its physical gas markets. NGX has enabled almost $300 billion of physical gas transactions since its inception in 1994. In 2006 more than 8.1 trillion cubic feet of gas traded on NGX. ICE maintains and develops proprietary leading-edge technology for the global commodity markets. Thousands of market participants worldwide rely on the liquidity, speed and reliability of ICE's Internet-accessible trading platform. Hundreds of products are traded daily on ICE's high performance platform, which operates seven days a week, 23 hours each day. In addition, ICE offers the most liquid, cleared natural gas and power swaps markets in North America. "This alliance will transform and grow the physical energy markets in North America," said NGX President Peter Krenkel. "We are combining the complementary, proven solutions of two established market leaders, and we'll be starting with unparalleled market penetration. Combining our physical and financial markets on a single clearing-supported technology platform will provide NGX and ICE customers with greater execution opportunities, together with a more efficient desktop and back office." http://www.prnewswire.com:80/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/03-28-2007/0004554860&EDATE=

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