UBS enters European power and gas

UBS has launched its European power and gas business, with a trade in the UK gas market on April 17.

The bank can transact UK, TTF and Zeebrugge natural gas, as well as German power, and will add UK, Nord Pool, French, Belgian and Dutch power plus carbon trading capabilities shortly.

Keith Holst, head of European power and gas trading, and Derek Davies, head of European power and gas marketing, are in charge of the new business. Both recently relocated from UBS's Calgary office to London.

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