TORONTO, May 1 /CNW/ - TMX Group Inc.(TMX) today announced that it has
completed the acquisition of NetThruPut Inc. (NTP) from Enbridge Inc. and
Circuit Technology Limited. NTP is a leading Canadian electronic platform and
clearing facility for physical crude oil products.
"Energy trading and clearing are important and growing aspects of our
increasingly diversified business and we are very excited about the
opportunities that this acquisition provides," said Tom Kloet, TMX CEO.
In September 2007, TMX announced that it had acquired the option to
acquire NTP, and on April 1, 2009, the company exercised the option. The final
purchase price was approximately $52.2 million, which is comprised of
approximately $22.6 million in cash and the issuance of approximately 880,000
TMX Group common shares.
Peter Krenkel, President of NGX, a wholly-owned subsidiary of TMX that
trades and clears natural gas and electricity contracts added: "We have
already begun to execute on the integration plan. Our ultimate goal is to
consolidate NTP's physical energy transaction and clearing activity onto a
single facility, which will provide customers who trade in multiple
commodities with significant capital efficiencies."
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for
multiple asset classes including equities, fixed income and energy. Toronto
Stock Exchange, TSX Venture Exchange, Montreal Exchange, Natural Gas Exchange,
Boston Options Exchange (BOX), Shorcan, Equicom and other TMX Group companies
provide trading markets, clearing facilities, data products and other services
to the global financial community. TMX Group is headquartered in Toronto with
offices in Montreal, Calgary and Vancouver. For more information about TMX
Group, visit our website at www.tsx.com.
For further information:
For further information: Carolyn Quick, Director, Corporate
Communications, TMX Group, (416) 947-4597, email@example.com