Gasunie Launches ENDEX, The Netherlands
Gas infrastructure company Gasunie announced the launch of ENDEX.
The launch of ENDEX follows the decision by APX-ENDEX to demerge into a power spot and clearing entity and a derivatives and spot gas entity, announced on September 17, 2012. At the same time, IntercontinentalExchange, Inc (ICE) and Gasunie announced an agreement to form a new company based on the derivatives and spot gas business of APX-ENDEX in which ICE would acquire a 79.12% share, while Gasunie would hold a 20.88% share.
Following the demerger of APX-ENDEX Gasunie is now the sole shareholder in ENDEX, owning 100% of shares. Gasunie will continue to work with ICE in respect of obtaining regulatory approvals relating to the agreement announced in September 2012.
ENDEX’s head office is based in the current offices of APX-ENDEX in Amsterdam and its subsidiary APX-ENDEX Derivatives B.V. retains a licence to operate a regulated market in the Netherlands. ENDEX is co-headed by Pieter Schuurs and Lucas Schmeddes, formerly COO and CFO of APX-ENDEX.
ENDEX provides a liquid, transparent and widely accessible continental European trading hub for natural gas and power derivatives, gas balancing markets and gas storage services, including the Title Transfer Facility (TTF) Virtual Trading Point in the Netherlands, the UK On-the-Day Commodity Market (OCM) and the Belgian Zeebrugge Trading Point (ZTP).
Gasunie CEO Paul van Gelder says: “Gasunie is looking forward to working on the future strategy for ENDEX, including the development of a continental European trading hub for natural gas and improved technology and clearing solutions for ENDEX customers. ENDEX will build on the successes of the gas and derivatives business of APX-ENDEX. The launch of a dedicated natural gas trading and derivatives exchangewill provide significant opportunities for growth to benefit customers, traders and consumers of gas.”
LNG World News Staff, March 01, 2013