Developed for oil traders by oil traders, IPE grew up and still very much is an oil trader's market. IPE offers a major pool of trade-based liquidity provided by over 300 companies in 30 countries and has grown over 50% in the last 5 years.
The IPE is not dominated by local and speculative elements and offers the flexibility needed by oil traders worldwide. These include Exchange of Futures for Swaps (EFS), pricing of spread legs, no position or price limits, visible bids and offers, and size orders. The IPE will ensure that the broker community is able to continue to offer the range of services that customers require.
Richard Ward, Chief Executive said, "We are confident of our competitive position and that we have the preferred market. We are initiating a wide-ranging consultation process with all our stakeholders to enable us to build a future within which they will want to continue to trade. That future will be electronic, but we must deliver it in a way that retains market liquidity, meets current market needs and also offers low costs, reduced capital requirements, more products and services, and combines with OTC markets. By doing all of these we have a recipe for success that will strengthen our position as a leading player".
