According to the companies, the partnership will allow Calyon to expand its commodities product offering. EDF Trading will contribute its physical trading expertise through the secondment of key personnel and the ongoing contribution of various trade execution and risk management services and IT support, enabling Calyon to provide hedging products on European power, European gas and global coal markets to its clients.
"The combination of EDF Trading's and Calyon's core competencies will create significant and lasting added value for Calyon's clients whilst allowing us to benefit from Calyon's strength as the premier supplier of financial services to the energy sector," said John Rittenhouse, chief executive of EDF Trading, in a statement.
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