CALGARY, June 9, 2014 /CNW/ - NGX, a wholly-owned subsidiary of TMX Group, today announced the launch of physical power products for the Western Electricity Coordinating Council (WECC) market at Mid-C, Palo Verde and Mead. The products began trading this morning through the Intercontinental Exchange Inc.'s WebICE trading platform. The WECC launch follows NGX's successful expansion into the ERCOT physical power market in August 2013.
"Expansion into the WECC region represents another important step forward for our U.S. power clearing initiative," said Jim Oosterbaan, President and CEO, NGX. "NGX continues to work to bring efficient collateral solutions and access to additional liquidity to our customers in this key market."
NGX is North America's largest physical clearing organization with offices in Calgary, AB and Houston, TX. NGX is registered as both a Derivatives Clearing Organization and a Foreign Board of Trade under the CFTC. For more information, please visit www.ngx.com.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, NGX, Boston Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE: Toronto Stock Exchange
For further information: Shane Quinn, Senior Manager, Communications and Public Affairs, TMX Group, 416-947-4609, firstname.lastname@example.org