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Enron Mail |
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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Mark Taylor X-To: Sheri Thomas X-cc: X-bcc: X-Folder: \Mark_Taylor_Jun2001\Notes Folders\All documents X-Origin: Taylor-M X-FileName: mtaylor.nsf ----- Forwarded by Mark Taylor/HOU/ECT on 02/08/2001 02:35 PM ----- Louise Kitchen 02/08/2001 02:28 PM To: Mark Taylor/HOU/ECT@ECT cc: Subject: USA: INTERVIEW-Online exchange TradeSpark says building critical mass. Please look at the Tradespark agreement ---------------------- Forwarded by Louise Kitchen/HOU/ECT on 02/08/2001 02:32 PM --------------------------- From: Rahil Jafry on 02/08/2001 02:18 PM To: Andy Zipper/Enron@EnronXGate, Louise Kitchen/HOU/ECT@ECT, Dave Samuels/Enron@EnronXGate, David.Forster@enron.com, Bob Shults/HOU/ECT@ECT, Paul Goddard/EU/Enron@Enron, Sheri Thomas/HOU/ECT@ECT, Leonardo Pacheco/Corp/Enron@Enron cc: Subject: USA: INTERVIEW-Online exchange TradeSpark says building critical mass. FYI + some benchmark numbers from them for future use. Also, are they allowed to advertise the names of all their members? ----- Forwarded by Rahil Jafry/HOU/ECT on 02/08/2001 02:19 PM ----- USA: INTERVIEW-Online exchange TradeSpark says building critical mass. By Andrew Kelly 02/08/2001 Reuters English News Service (C) Reuters Limited 2001. HOUSTON, Feb 8 (Reuters) - TradeSpark, an online energy exchange launched late last year, said on Thursday it was making good progress toward its goal of establishing itself as a liquid marketplace for trading energy products. "We expect certainly by the end of this year to have critical mass in certain instruments, in certain products, and to be the (trading) platform of record," Managing Director Mike Williams told Reuters in a telephone interview. Earlier on Thursday, TradeSpark (www.tradespark.com) said it had clocked up energy trades with a notional value of more than $16 billion since it opened for trading on Oct 2, 2000. Natural gas accounted for over $9 billion of the trades logged so far and electricity for about $6 billion. TradeSpark also said that more than 125 companies and roughly 550 traders are currently registered to use the system to execute their energy transactions. It was the first time that the limited partnership had released data on trading volumes and user numbers. Most electronic energy trading platforms have been reluctant to release such information and analysts have predicted that only a handful who succeed in generating large volumes of business relatively quickly, will survive the inevitable shakeout ahead. SYSTEM USERS INCLUDE ENRON Williams said TradeSpark had already signed up "all the big names" in North America's wholesale natural gas and electricity business, including its 800-pound gorilla, Enron Corp.. "They are a user of the system. They've been a customer of ours since we started," he said of Enron, though he declined to provide further details about Enron's use of TradeSpark. Enron launched its own electronic trading platform, EnronOnline (www.enrononline.com), in late 1999 and used it to execute deals worth $336 billion last year. EnronOnline is a bilateral trading system on which Enron posts buy and sell prices and is either the buyer or seller in any deals that take place. Williams said bilateral and multilateral platforms were completely different and that both could coexist in harmony. Enron, for its part, has said it is willing to use any kind of trading platform that helps its traders to do business. TradeSpark's founding partners include electronic commerce firm eSpeed Inc., brokerage Cantor Fitzgerald, energy firms Williams Cos. and TXU Corp. and Royal Dutch/Shell affiliate Coral Energy. Dynegy Inc., which also has its own bilateral trading platform, Dynegydirect (dynegydirect.com), has used TradeSpark from its launch and has also announced plans to become a partner in the venture at a later date. Despite some of the big energy names associated with TradeSpark, Williams emphasized its neutrality, including anonymity of the prices posted on the system. In January, traders who were not associated with one of TradeSpark's founding partners accounted for 58 percent of all trades, up from 48 percent in December. Williams said TradeSpark would expand its product offerings next month to add physical natural gas products alongside the financial gas instruments currently available. Financial electricity instruments will also be added some time this year, he said, to complement the physical electricity products on offer now. Folder Name: Rahil Jafry Relevance Score on Scale of 100: 86 ______________________________________________________________________ To review or revise your folder, visit http://www.djinteractive.com or contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact your local sales representative.) ______________________________________________________________________ Copyright © 2001 Dow Jones & Company, Inc. All Rights Reserved
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