"We are pleased to have completed this transaction," said Barbara Stymiest, CEO of TSX Group. "NGX extends our product and service offering, while at the same time expanding our reach outside of Canada. We look forward to building this market in the future."
NGX is a Canadian exchange that trades and clears natural gas and electricity contracts. Based in Calgary, NGX enables energy traders to trade and clear natural gas spot, forward and swap contracts and electricity swap contracts. Since its founding in 1993, NGX has developed into one of North America's leading players in natural gas and electricity trading, with a strong market model, solid customer base, consistent revenue growth and profitability.
Natural Gas Exchange Inc. will maintain offices in Calgary and Peter Krenkel remains as President. Mr. Krenkel has also become a member of TSX Group's Senior Management Team.