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eSpeed to Partner With Five Energy Firms to Form Online Energy Trading Site
Electronic trading provider eSpeed (ESPD Quote) on Monday announced it had partnered with five major energy companies to form TradeSpark, an online energy trading site set to launch next week.
The online venture, which will be fully operational on Oct. 2, will serve as an electronic marketplace for professional traders of natural gas, electricity, coal, weather derivatives, even emission credits. Equity partners in the venture include Dominion Resources (D Quote), TXU's (TXU Quote) energy trading subsidiary, Williams'(WMB Quote)energy marketing and trading subsidiary, as well as privately-held Coral Energy, Koch Energy Trading and the brokerage firm Cantor Fitzgerald.
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