Macquarie acquires Barclays US power trading book

Deal brings Australian bank deeper into North American energy markets

Electricity pylons

Macquarie acquired a US power trading book from Barclays in a deal the two banks reached earlier this month, sources say.

The deal marks the latest advance by Macquarie into North American energy markets, as a number of other banks retreat from commodities. Barclays announced in February that it was withdrawing from US and European electricity, and since then the bank is said to have been seeking a buyer for its US power trading book.

A source familiar with the transaction said the purchase incl