Trayport Limited, a leading provider of multi-asset class electronic trading solutions, today extended its agreement with Powernext, a Paris-based energy exchange, until 2011.
The renewed agreement covers the provision of Trayport's GlobalVision electronic trading platform to Powernext's Gas Spot and Futures, which are due to be launched on 26th November 2008.
Powernext successfully launched power futures in June 2004 using Trayport's technology. The exchange has since built a network of over seventy five European members including major European energy producers, banks, brokers, traders, and retailers.
The new contract extension between Trayport and Powernext is an indication of Trayport's significance as the recognised market leader in front-end trading software for energy and gas traders across Europe. Powernext will launch its gas exchange for spot and futures contracts on French PEGs (Point d'Echange de Gaz - Gas Exchange Points) and GlobalVision will be the electronic trading system of choice.
Richard Katz, Director Sales & Communication at Powernext said, "Trayport's GlobalVision is a tried and tested electronic trading system and has proven to be one of the foundations for Powernext's success as a European energy exchange. Moreover our gas customers have expressly asked Powernext to use GlobalVision, which is their favourite front-end and integration platform, so we are more than happy to list our gas products on it. This will certainly help increase Powernext's liquidity in this new area."
"Continuing our successful relationship with Powernext enables the market participants to electronically trade a wide range of energy asset classes. It further strengthens our links with one of the major European energy exchanges," said Adrienne Quinn, Head of Exchange Systems Business, Trayport.
"We are working closely with Powernext to help increase its European energy footprint, and we are confident that continued cooperation will help to build visibility for both companies through using Trayport's GlobalVision trading platform."