Seeking Alpha

CME to keep Trayport independent; start European natural gas futures

  • More than 50% of U.K. gas trades and up to 91% of those in the Dutch market were handled in June by OTC brokers, according to Trayport data.
  • “We know from our client base that there’s interest in clearing gas contracts in major hubs and the most actively traded at the moment are NBP (U.K.) and TTF (Netherlands),” says the CME's Martin Fraenkel in a Bloomberg interview. "There's client interest in having other clearing venues for those hubs and that’s why we prioritized them."
  • CME last week agreed to buy Trayport parent GFI Group for $580M, pitting itself against IntercontinentalExchange (ICE -0.8%) which operates Europe's largest energy market.
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