Enerdata, the independent energy information firm, today announced the launch of the Canadian Crude Index Alliance (CCIA), a Canadian crude benchmark that aggregates the existing index data of Marex Spectron and One Exchange, two leading energy brokers.
CCIA is a major development for the Canadian crude market, in which there are currently a variety of indices compiled by different energy brokers. The consolidation of Marex Spectron’s and One Exchange’s Canadian crude indices through Enerdata, which has pioneered many natural gas indices, is an important step to providing the market with a real-time industry benchmark.
The new indices and the underlying data will be available to clients starting in September free of charge through their broker.
“Clients have told us that they want a single suite of public indices provided by a third party at zero cost,” said Ian Lowitt, Marex Spectron’s Chief Executive Officer. “We are delighted to have executed this first step with One Exchange and Enerdata, and invite other brokers to join the index. CCIA goes a long way to establishing an industry benchmark for Canadian crude that has greater liquidity and more accurate pricing.”
Perry Undseth, President of One Exchange, commented: “We are equally excited to be working with Marex Spectron to provide a solution to the fragmented market environment and believe that CCIA will provide customers with better trading and hedging opportunities by increasing liquidity and attracting new market participants in both physical and financial products. Tying financial instruments to a broader, more comprehensive benchmark offers a significant improvement over the existing market mechanics.”
Richard Zarzeczny, President of Canadian Enerdata, added: “We welcome the opportunity to be part of the CCIA. A consolidated oil price index is in the best interests of the Canadian oil industry as a whole and Enerdata reaches out to all Canadian crude oil brokers to participate.”
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For further information, please contact:
Press enquiries
Perry Undseth
One Exchange
+1 403-215-5507 | PUndseth@oneexchangecorp.com
Richard Zarzeczny
Canadian Enerdata
+1 905-642-8167 | richardz@enerdata.com
Alastair Crabbe
Marex Spectron
+ 44 (0) 20 7650 4104 | acrabbe@marexspectron.com
Index/ Broking enquiries
Tarun Ajwani
Marex Spectron
+1 587-393-5619 | tajwani@marexspectron.com
Perry Undseth
One Exchange
+1 403-215-5507 | PUndseth@oneexchangecorp.com
Richard Zarzeczny
Canadian Enerdata
+1 905-642-8167 | richardz@enerdata.com
Notes to Editors:
Marex Spectron Group Limited
Marex Spectron is a leading global commodities brokerage, with significant market share of many major agricultural, metal and energy products. Headquartered in London, Marex Spectron’s extensive international network covers Europe, Asia and North American markets. State-of-the-art electronic and voice broking services facilitates all types of trading strategies. This is backed by decades of experience, with Marex Spectron placing great emphasis on intellectual knowledge and insight, alongside access to extensive data sets and the latest analytical tools.
One Exchange
Based in Calgary, Alberta, One Exchange Corp. (OX) is a leader in voice and electronic brokering for the North American Natural Gas and Crude Oil markets. Equipped with more than 100 years of combined experience in the energy sector, OX offers a sophisticated and comprehensive approach to your trading and hedging needs.
Enerdata
Canadian Enerdata Ltd. is an independent energy (natural gas, crude oil, gasoline, diesel and fuel oil) information, price index publishing and forecasting company established in 1984. Enerdata was at the forefront in the development of the Alberta ‘AECO’ natural gas price indices throughout the 1990s. Enerdata publishes the Canadian Gas Price Reporter (CGPR), Weekly Canadian Natural Gas Storage Report, Canadian Energy Trends and Natural Gas Forward Prices.
