Launch of IMAREX Power and IMAREX Carbon
[First published: Thursday 12 April 2007 9:11:25 am]
Leading Nordic and European power brokers M3, a part of the IMAREX NOS Group, is changing its name to IMAREX Power. At the same time the fast growing European emissions brokers Guardian AS, is changing its name to IMAREX Carbon. The changes reflect the growing momentum behind building IMAREX into a leading multi-commodity exchange.
Nordic and European power and emissions derivatives, including swaps and options is a fast growing market which is increasingly relevant as a link in the energy chain which includes coal, fuel oil, dry bulk shipping, power generation and airborne emissions.
"Marketing of our cross-commodity offering becomes a lot easier with one unified brand," says Tom Even Mortensen, CEO of the IMAREX NOS Group.
IMAREX Power is recognized to be particularly strong in the European power options market and have a long track record for its placing power of large deals. This placing power gives IMAREX Power a 35% markets share in the OTC Nordic power markets.
Head of IMAREX Power, Bengt Staveland says: "This re-branding of M3, brings European power swaps and options firmly into line with other market sectors trading at IMAREX. Our energy customers will now be in no doubt about the capabilities of IMAREX to offer multi-commodity markets on a single platform."
Airborne emissions including CO2 quotas for European industry is becoming an important link in the energy chain. IMAREX is investing in building a liquid derivatives market for all of these sectors and to bring one-stop cross commodity trading to the market.
The Head of IMAREX Carbon, Bjørn Syslak says: "Giving Guardian its new name makes the marketing of our airborne emissions brokerage both easier and clearer to the large energy companies which already do a lot business with other parts of the IMAREX group, such as freight, fuel oil and European Power."
The IMAREX NOS group operates a hybrid exchange concept combining electronic trading of cleared commodity derivatives with the expertise of in-house derivative brokers. The group operates from offices in Oslo, Singapore, Houston, London and Stavanger.
For more information, please contact:
- Tom Even Mortensen, CEO IMAREX NOS tel: +47 2389 4222
- Bengt Staveland, Managing Director IMAREX Power tel: +47 9112 6572
- Bjørn Syslak, Managing Director IMAREX Carbon tel: +47 2300 3161
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