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Natural Gas Exchange (NGX) and Alliance Pipeline announced today a new service for shippers on the Alliance system, with the addition of Alliance's Canadian Receipt location (APC-CREC) as a cleared trading point on NGX. The addition brings the total number of NGX's Canadian clearing locations to 18.
The service, which takes effect today, will benefit shippers by offering natural gas clearing and trading at the APC-CREC location, via NGX, which is a wholly owned subsidiary of TMX Group that offers trading and clearing services for natural gas, crude oil and electricity contacts.
"The Alliance pipeline system is a key factor in the Canadian physical marketplace and we are very excited about the addition of APC-CREC to the suite of NGX cleared Canadian physical natural gas products," said Peter Krenkel, President, NGX.
NGX will offer daily, weekend, monthly and term fixed and indexed physical instruments at the APC-CREC market center.
Cathie Legge, Manager, Customer Service for Alliance says, "This is something our shippers have been asking for so we're very pleased to offer this service. NGX is a key clearing and trading player, and this alignment will make trading on the Alliance system more convenient and transparent, to the benefit of both our shippers and the marketplace. "
As with all NGX products, trades consummated through the ICE Trading System at the APC-CREC point can physically and centrally cleared by NGX and can be used to reduce or offset margin requirements incurred in other NGX products. For more information about the full suite of NGX products, visit www.ngx.com.
