Optionable launches e-trading platform for natural gas derivatives
18 July 2006 | 1101 views | 0
Optionable, Inc. (BULLETIN BOARD: OPBL) , a leading provider of natural gas and other energy derivatives brokerage services, announced today that it has commenced trading on its OPEX platform.
OPEX is a real-time electronic trade matching and brokerage system and has been certified to connect with the NYMEX ClearPort clearing platform.
"We are very excited to have successfully completed the launch of OPEX as we believe it will become a vital tool in the growth of the natural gas and energy derivatives markets," said Kevin Cassidy, Chief Executive Officer of Optionable. "Trading in natural gas contracts is rapidly growing, but traders consistently told us they lacked tools to provide market visibility and pricing transparency. We believe that OPEX, which provides essential information, transparency and market visibility, and flexibility, is ideally suited to meet these needs. Using our more than twenty years of brokerage experience in natural gas and energy derivatives, we developed OPEX as a real-time electronic trade matching system that employees strategies used by professional options traders. The initial usage of the system is very encouraging with over 100,000 NYMEX ClearPort lots, or more than 1 billion MMBTU, traded on OPEX during its first week. We are confident it will become an important addition to our brokerage services."
The OPEX Trading Platform was designed to facilitate trading strategies that are currently executed on the OTC (over-the-counter market) and on the commodity exchanges. OPEX is configured to trade dozens of option trading strategies employed in the market, offering vital information such as the size of the best bid and ask price, and can be customized by the trader to create individualized strategies. The OPEX trading platform permits traders to execute transactions on OPEX and have them electronically cleared through the award-winning NYMEX ClearPort clearing technology.