Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, today announced that it has signed an agreement with the Australian Energy Market Operator (AEMO).
AEMO will use Trayport's GlobalVision Exchange Trading System (ETS) to support trading in the new Australian gas hub.
AEMO's development of a gas supply hub at Wallumbilla in Queensland is a significant gas market reform to increase the transparency, competition and reliability of Australia's gas supply. The Wallumbilla hub is expected to be operational by March 2014.
Trayport's ETS is a market leading, real-time matching engine and front end trading system designed specifically to enable commodity exchanges to host electronic marketplaces. The extensive flexibility of the system provides exchanges with a single solution for price dissemination, order and deal management and matching of any energy commodity globally.
Matt Zema, AEMO's Managing Director and Chief Executive said, '"There is tangible value to the market in setting up this voluntary trading hub as efficiently as possible and by using a product that is already used internationally, keeping costs to a minimum."
Elliott Piggott, CEO at Trayport said, 'We are pleased that AEMO has chosen Trayport to support trading in the new gas hub. Over 20 exchanges globally already benefit from our exchange trading solutions. Gas exchanges similar to the brokerage hub proposed by the AEMO are emerging across the globe and we are confident that our solution will support the goal of enhancing trading liquidity. We look forward to working with AEMO for a successful implementation.'
AEMO is the National Energy Market Operator and planner. AEMO plays an important role in supporting the industry to deliver a more integrated, secure, and cost effective national energy supply.