CALGARY, Sept. 9, 2013 /CNW/ - Natural Gas Exchange Inc. (NGX), a wholly-owned subsidiary of TMX Group, today announced that it has initiated its US physical power clearing services in the ERCOT ( Texas) market.
The launch is pursuant to the agreement that NGX entered into with NASDAQ OMX Commodities Clearing Company (NOCC) in July 2013. The transfer of the physical energy products to NGX was successfully completed, and the products are now available for trading through the IntercontinentalExchange Inc.'s WebICE.
"We are pleased that our inaugural efforts in US power clearing have been successful," said Jim Oosterbaan, President of NGX. "We are confident that our customers will realize important benefits, including collateral efficiencies, regulatory certainty and enhanced liquidity."
NGX is working to expand its product offering within ERCOT and into the WECC region in 2014.About TMX Group (TSX:X) TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada ( Montreal, Calgary and Vancouver), in key U.S. markets ( New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup. SOURCE TSX Group Inc.