IPE Approved As A Recognised System Provider In Singapore

The International Petroleum Exchange (IPE), Europe’s leading energy futures and options exchange, today announced that it has become the first overseas exchange to be approved as a Recognised Trading System Provider under section 36 of the Securities and Futures Act by the Monetary Authority of Singapore (MAS). This recognition, which took effect on 10 May 2004, allows the Exchange to provide Singapore Participants with access to the trading of IPE products on its electronic platform.

Confirmation of the Exchange’s recognition has been published for general information in the Government Gazette, which may be accessed at www.egazette.com.sg.

Dr. Richard Ward, IPE Chief Executive, who is currently visiting Tokyo, commented that, “We are delighted that the Exchange has secured approval to place its trading screens in Singapore, which demonstrates the Exchange’s commitment to facilitating access to market participants in the Asia-Pacific area.”

Jonathan Arginteanu, of ABN Amro added, “The IPE and MAS have together taken a decision which will have a positive and far reaching impact on Asia-Pacific energy trade. The increasing demand for access to IPE from regional energy companies can now be efficiently provided by financial institutions from nearby financial centres.”

This now makes 15 different jurisdictions where the IPE has confirmed that it can provide electronic access to its products including Austria, Belgium, Denmark, Finland, France, Germany, Japan, The Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United States of America.