Electronic Crude Oil Trading Systems. Phoenix Energy Marketing Consultants Inc.
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1 Phoenix Energy Marketing Consultants Inc.
2 2 Introduction What is an Electronic Crude Trading System? What are the benefits of Electronic Trading? Electronic Crude Oil Exchange Types Electronic Crude Oil Exchange Credit Models What are the benefits of the Full Clearing Model? Electronic Trading Systems in Canada NGX (formerly NetThruPut or NTP) Shorcan (affiliated with NGX) NetEnergy OneExchange (new) Examples of Electronic Trading Screens
3 3 What is an Electronic Crude Oil Trading System? A computerized meeting place for buyers and sellers to purchase and sell physical crude oil Typically accessed through the Internet
4 4 What are the benefits of Electronic Trading? Market discovery Real time pricing and volumes Recent transactions visible on-screen Historical pricing information available Increased liquidity Connection to a wide market audience
5 5 Electronic Crude Oil Exchange Types Trade types: Physical actual crude trades Financial contractual (paper) crude trades Hybrid both physical & financial trades
6 6 Electronic Crude Oil Exchange Types Credit Models Direct Buyer and seller are electronically introduced The contract is between the buyer and seller No credit with the Exchange required No anonymity in the transaction
7 7 Electronic Crude Oil Exchange Types Credit Models Full Clearing Global Exchange contract Exchange stands between buyers and sellers Buyers and sellers require credit position with the Exchange Completely Anonymous
8 8 What are the benefits of the Full Clearing Model? Security of revenue and volume guaranteed by the Exchange Anonymity the Exchange acts between the buyer and the seller One standardized agreement reduces paperwork Fast, Safe and Efficient
9 9 NGX Trading System What is NGX? NGX is currently the only trading platform that trades Western Canada Physical & Financial Oil & Condensate using the Full Clearing Model Established in January 1999 Sold by Enbridge Inc. to TMX Group in May, 2009 Exchange Type Hybrid, primarily Physical Trading Region Western Canada & U.S. Credit Model Full Clearing Time Frame Monthly, up to 15 months out Regulated by Alberta Securities Commission & FERC NGX trading platform retired in 2011 and contracts migrated to ICE
10 Shorcan Trading System 10 What is Shorcan? Shorcan trading platform trades Western Canada Physical & Financial Oil & Condensate using the Full Clearing Model Established in 1977 Inter-dealer brokerage firm owned by TMX Group Exchange Type Hybrid, primarily Physical Trading Region Western Canada & U.S. Credit Model Full Clearing Time Frame Monthly, up to 15 months out Regulated by Alberta Securities Commission & FERC NGX trading platform retired in 2011 and contracts migrated to ICE
11 11 Shorcan Trading System
12 12 What is NetEnergy? (short name: NE2) Net Energy is a web-accessed, electronic trading platform that trades Canadian and U.S. Crude Broker-Driven Founded in 2004 Exchange Type Physical & Financial Trading Region Western Canada & U.S. Coverage global Credit Model Direct (OTC) Time Frame Monthly, indefinite forward potential Time Tunnel Online batch swap market
13 13 NetEnergy Trading System Liquidity/Subscribers 60+ Trading Companies 150 Traders All 60 + companies are active traders Focused on Active Participants: 30,000 m3/month minimum 400 View Only Users from 100 companies Market Makers have LIVE (hoot and holler) line into brokers Trading Physical & Financial Crude 2010 Volumes: 25,000,000 bbls/month Fees Full Trading: No Charge (30,000 m3 minimum) + USD 2c/bbl NENA: Index, Settlement, Historical Pricing and fundamental news
14 14 NetEnergy Trading System
15 NetEnergy Trading System 15
16 16 One Exchange Trading System What is One Exchange ( OX )? One Exchange Corp. (OX) is an inter-dealer broker offering independent and unbiased brokerage services for the North American Natural Gas, Canadian Crude Oil, and Power markets Instant access to real-time price dissemination and anonymous trade execution Hybrid platform offers online electronic and broker assisted execution Access to multiple exchanges for clearing: CME ConfirmHUB TM engaged and approved
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20 20 Shorcan Deal, not in Index Bilateral/Cleared Designation Disputed Trade Shorcan Deal, in Index
21 21
22 22 Source: NetEnergy
23 23 For More Information
24 24 Questions?
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