ICE Takes Full Control of Dutch Energy Exchange Endex
- Back in 2012, ICE bought a majority stake in the derivatives and spot gas business of APX-ENDEX.
Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ICE) has acquired the remaining 20% interest in the Dutch energy exchange Endex, which has become a fully owned subsidiary of ICE, encouraged by efforts to expand the brand in a handful of international markets.
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Terms of the transaction weren't made public but ICE said it was immaterial to their financial results.
The US-based exchanges operator completed the deal with N.V. Nederlandse Gasunie to take full control of the Amsterdam-headquartered firm which provides an accessible continental European trading hub for natural gas and power derivatives.
Back in 2012, ICE bought a majority stake in the derivatives and spot gas business of APX-ENDEX, which was de-merged into a power spot and Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term entity and a derivatives and spot gas entity.
The ENDEX license covers derivatives and spot trading around the Title Transfer Facility (TTF) Virtual Trading Point in the Netherlands in addition to the UK On-the-Day Commodity Market (OCM) and the Belgian Zeebrugge Trading Point (ZTP).
David Peniket, President and COO of ICE Futures Europe, commented: “Gasunie have been terrific partners in building ICE Endex and in growing the Dutch TTF gas futures and options complex to help customers manage their price risk. Our acquisition of the remaining shares in ICE Endex along with further cooperation with Gasunie will allow us to further develop these markets and to serve the needs of our European gas and power customers. We look forward to continuing to work with Gasunie as we collaborate in support of the growth of both the European and global natural gas markets.”
Ulco Vermeulen, Business Development of Gasunie, added: “Three years ago Gasunie decided to join forces with ICE for a period of time to develop a highly liquid, secure and efficient continental European platform for trading gas and power. By bringing the expertise of both companies together we have been able to deliver this initiative. Trade is now flourishing and the 100% ownership by ICE is the most logical step for the ICE Endex business.”
Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ICE) has acquired the remaining 20% interest in the Dutch energy exchange Endex, which has become a fully owned subsidiary of ICE, encouraged by efforts to expand the brand in a handful of international markets.
The London Summit 2017 is coming, get involved!
Terms of the transaction weren't made public but ICE said it was immaterial to their financial results.
The US-based exchanges operator completed the deal with N.V. Nederlandse Gasunie to take full control of the Amsterdam-headquartered firm which provides an accessible continental European trading hub for natural gas and power derivatives.
Back in 2012, ICE bought a majority stake in the derivatives and spot gas business of APX-ENDEX, which was de-merged into a power spot and Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term entity and a derivatives and spot gas entity.
The ENDEX license covers derivatives and spot trading around the Title Transfer Facility (TTF) Virtual Trading Point in the Netherlands in addition to the UK On-the-Day Commodity Market (OCM) and the Belgian Zeebrugge Trading Point (ZTP).
David Peniket, President and COO of ICE Futures Europe, commented: “Gasunie have been terrific partners in building ICE Endex and in growing the Dutch TTF gas futures and options complex to help customers manage their price risk. Our acquisition of the remaining shares in ICE Endex along with further cooperation with Gasunie will allow us to further develop these markets and to serve the needs of our European gas and power customers. We look forward to continuing to work with Gasunie as we collaborate in support of the growth of both the European and global natural gas markets.”
Ulco Vermeulen, Business Development of Gasunie, added: “Three years ago Gasunie decided to join forces with ICE for a period of time to develop a highly liquid, secure and efficient continental European platform for trading gas and power. By bringing the expertise of both companies together we have been able to deliver this initiative. Trade is now flourishing and the 100% ownership by ICE is the most logical step for the ICE Endex business.”