Ecomex, today announced the deployment of Trayport's GlobalVision Exchange Trading System, enabling the trading of renewable energy products globally.
ECOMEX, based in Oslo, Norway, is a leading marketplace for trading green alternative energy contracts.
With GlobalVision ECOMEX will become the first worldwide exchange in renewable energy products to provide traders with an electronic trading platform. The Exchange Trading System will be used for trading derivatives linked to the energy carriers for renewable energy sources, such as hydrogen and methanol fuels. ECOMEX will also use GlobalVision for other commodity classes offering more widely available market information and the trading of options, warrants and futures.
Initially the commodities to be traded will be fuels derived from renewable biological resources such as biodiesel. It is also expected that subsequently less liquid commodities will also be traded on ECOMEX and may include by-products of industrial and agricultural prosesses such as the waste from forrestry.
"As the first exchange to offer online trading in renewable resources, we decided to make the investment in GlobalVision to meet the demands of our trading clients who wish to trade in this area. Many traders already use Trayport's Trading Gateway product for trading commodities and so GlobalVision will allow us a great opportunity to connect with them and increase the market. It will also allow expansion into related services by delivering better information to both brokers and traders," said Sophus Kielland, CEO of ECOMEX. "We aim to increase the number of commodites traded and provide ever increasing liquidity in the markets in which we operate."
"Trayport has a great track record in the emissions market and there is already a huge volume of these contracts traded using GlobalVision. This is a very clear indication of a growing green sustainable energy industry," said Paul Constantinou, Sales Manager - Exchange Systems at Trayport. "We are seeing increased demand for GlobalVision from those exchanges like ECOMEX moving into the renewable energies marketplace. Brokers and traders using ECOMEX to trade these commodities will be able to reduce their administrative costs and gain the opportunity to increase the volume of trades. The opportunity to work with ECOMEX is an exciting one in terms of renewable energy trading, and one that builds on our experience in the Nordic exchange markets."