TradeSpark market reaches $100 billion milestone
31 August 2001 | 739 views | 0
TradeSpark, the electronic marketplace for energy trading, reports it has transacted $100 billion (notional value) since its launch in October 2000.
The e-marketplace, powered by eSpeed technology, is midway through its third quarter and has already transacted $29 billion, compared to $41.9 billion transacted during the entire second quarter ending June 30, 2001.
The company attributes the dramatic increase in trading volume to the headway it has made in the West Coast and Ercot power markets, which were added to the platform in April 2001. Effective September 4, 2001, West-Coast hourlies will also be available on the platform.
Mike Williams, managing director, TradeSpark, comments: "We have been working tirelessly with our partners and market participants to introduce new products and to expand into new markets swiftly. This collaboration, along with our three points of access to one pool of liquidity appeals to our customers."