US physical clearing firm gets credit support from CSFB

Investment bank Credit Suisse First Boston is to provide credit support for North American Energy Credit and Clearing’s (NECC’s) services in physical energy markets.

The CSFB-NECC agreement provides a foundation for the NECC physical energy credit risk management platform using structured credit products by CSFB, says Chicago-based NECC.

The move may be of reassurance to some who feel that NECC has yet to convince the energy markets of its reliability as a clearing entity.

“Buyers and sellers enter into a loan agreement with us that is backed by the CSFB facility,” explains Becky Kilbourne, head of marketing and business development at NECC. “CSFB thus

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