SOURCE: Net Energy Exchange

Net Energy Exchange

April 08, 2016 04:00 ET

Net Energy - Canada's Newest Exchange

CALGARY, AB--(Marketwired - April 08, 2016) - Calgary-based Net Energy Inc. is pleased to have gained approval from the Alberta Securities Commission for recognition as a crude oil derivatives exchange. This elevation in status places Net Energy in a position to add new products and services to our current offerings within the guidelines of a recognized Exchange. This order culminates a process with our Canadian regulator that was initiated in 2012, and it provides a stepping stone towards registration as a marketplace in the United States.

President and CEO Tim Gunn says: "Recognition as an Exchange puts us on the same playing field as the other Exchanges in Canada and we look forward to taking advantage of this opportunity to list new products in the oil sector, exploring emerging commodity and financial sectors, and adding new risk management tools for customers."

Net Energy Exchange currently offers over 300 active markets on our premier trading platform, including exclusive Western Canadian Heavy Crude (WCC), balance of month (CHB) and options (WCI), Canadian Sweet Synthetic (CSN) and Canadian Light Sweet (CIL) financial contracts cleared through the Chicago Mercantile Exchange's clearing facility -- ClearPort.

As a result of the trade volume transacted on Net Energy, we are able to produce exclusive indexes such as the Canadian Daily Index, the NE Monthly Index, and the US Daily Index. Net Energy's Market Index products have become benchmarks in trading and market valuation procedures for upstream and down-stream producers, as well as trading entities and the Government of Alberta.

Recognition as an Exchange provides added comfort for our existing clients by affirming transactions are made within a regulated and fair market. It also adds to our ability to provide critical pricing factors for the Alberta and North American markets and to develop new instruments for managing price risks in these difficult times in the oil markets.

About Net Energy:

Net Energy operates a leading online trading platform for crude oil markets in North America, which now forms the basis of its Exchange operations. Net Energy connects motivated buyers and sellers in a reliable forum to discover price and transact. We also offer a user-friendly view of live crude oil markets in multiple streams for both physical and financially settled products on a forward price curve.

Net Energy was founded in 2005 as an independent full-service Brokerage company. We currently provide trading services to 650+ traders from nearly 200 different banks and oil firms. Currently more than 1600 authorized viewers from over 280 companies utilize our system. NE2 Group LLC is our partner company that services the US markets based in Houston. 

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