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- Release Date: 02/09/13 19:25
- Summary: GENERAL: NZX: NZX launches natural gas market
- Price Sensitive: No
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NZX
02/09/2013 17:25
GENERAL
REL: 1725 HRS NZX Limited
GENERAL: NZX: NZX launches natural gas market
NZX is pleased to announce that having received the necessary operating
approvals, its spot gas market is now open for trading.
The launch of NZX's gas market has been dependent on successful completion of
an Interconnection Agreement with Maui Development Limited, the owner and
operator of the Maui Pipeline.
The market features monthly, weekly, daily and intraday products focused on a
'virtual welded point' on the Maui pipeline. The chosen architecture is
intended to concentrate liquidity and is compatible with existing shipping
arrangements.
The final rules for the new market are now available, and participants may
now register for the market, and commence trading.
NZX Head of Energy Erich Livengood commented: "We are delighted to receive
the necessary operating approvals for the new gas market, and look forward to
working closely with industry participants in coming months to grow and
develop this important market.
"Potential participants will now be reviewing the final rules and market
requirements, and we will be working with them to register and begin trading
from today."
The market is hosted at gas.nzx.com
NZX initially announced it would operate a gas market on 5 March 2013.
NZX continues to look for opportunities to use its existing market operations
infrastructure to enable a broad range of industries to better manage their
risk.
For more information please contact:
Kate McLaughlin
Corporate Communications
M: 027 533 4529
E: [email protected]
Erich Livengood
Head of Energy
M: 027 268 7958
E: [email protected]
End CA:00240563 For:NZX Type:GENERAL Time:2013-09-02 17:25:29
