Amerex becomes first licensed globalCOAL product bLONDON, UK, 9 April, 2003
globalCOAL is pleased to announce that Amerex has become the first brokerage firm to be licensed to voice-broker transactions based on globalCOAL products.
The licensing arrangement allows Amerex to market and arrange transactions based on globalCOAL?s various products including the Standard Coal Trading Agreement (SCoTA), the RB Index, the NEWC Index and the various quality specifications developed by globalCOAL for the SCoTA which include the following: RB1, RB2, NEWC, ARA and BOL. Any transactions arranged by Amerex under the licence must between globalCOAL Market Members or companies holding a globalCOAL licence
globalCOAL?s licensing scheme has implications for non-brokers also. Any company which is not a globalCOAL Market Member and which wishes to use globalCOAL?s products in the course of its business can now do so provided they obtain a licence from globalCOAL. There is no charge for a licence
Mark Walters, CEO of globalCOAL said:
Amerex?s licence means that transactions based on globalCOAL products are now available via the voice-brokered market. Not only does this improve the flexibility of globalCOAL?s products, but it promotes a wider and more liquid market for physical coal and related derivative instruments. This is not an exclusive arrangement and globalCOAL looks forward to implementing licensing agreements with other parties in the near future.
Brendan Boyle, Director of Coal Brokerage Services for Amerex said:
"This licensing agreement with globalCOAL allows Amerex to expand its brokerage services to customers and provide them with access to a broader range of market products. We believe voice-brokering will continue to play an integral role in the development of the international coal market."
globalCOAL is a leading online marketplace for physical coal and related financial derivative instruments. Its physical trading contract, SCoTA (Standard Coal Trading Agreement), is internationally recognised and forms the basis for globalCOAL?s benchmark coal price indices, the RB Index and the NEWC Index.
globalCOAL has 34 Market Members. For further details see www.globalcoal.com.
Founded in 1978, Amerex is the world's largest energy broker, with offices in New York, London, Singapore, Tokyo and Houston. Amerex brokers crude and refined oil products, natural gas and gas liquids, electricity, coal, emission credits and freight as well as IPE and NYMEX futures and options. Amerex is the only voice broker to combine on one desk both physical and financial international coal products. Amerex Futures Limited is regulated by the FSA.
globalCOAL TRADING/MARKETING ENQUIRIES: AMEREX ENQUIRIES Issued by Global Coal Limited which is regulated by the Financial Services Authority.
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Issued by Global Coal Limited which is regulated by the Financial Services Authority.
Download Press Release (PDF)