Dynegy joins TradeSpark online trading platform
Houston-based energy company Dynegy has become a partner in TradeSpark, the online energy trading platform. The firm has linked its own proprietary trading system, Dynegy Direct, to TradeSpark as part of the deal.
Five other energy companies are already partners in TradeSpark. They are Coral Energy, Dominion, Entergy-Koch Trading, TXU Energy Trading and Williams Energy Marketing and Trading. Electronic market-place eSpeed, controlled by interdealer broker Cantor Fitzgerald, is also a partner.
TradeSpark saw rapid growth in volume in the fourth quarter of 2001, which it attributed in part to market participants increasingly seeking out neutral, multilateral trading platforms following the collapse of Enron Online. The number of electronic trades increased 295% over the same period in 2001, and average daily transactions increased 85%. The company does not release volume figures, making direct comparisons with previous quarters difficult.
UBS Warburg, the investment banking arm of Switzerland’s UBS, purchased Enron Online in January this year.
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