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European exchanges see surge of liquidity using Trayport

Trayport builds presence in exchange technology space

London, 8 November 2005 – Trayport, a leading supplier of electronic trading systems, today announced key successes in the implementation of its trading platform Global Vision 8 (GV8) with two large European exchanges. The International Maritime Exchange ASA (Imarex) and Powernext SA, the French futures exchange, have both experienced a surge in liquidity since implementing the company’s platform in April and June 2004 respectively.

Imarex started using GV8 to trade freight derivatives electronically in April 2004 and has since recorded over 2,000 deals on the platform. Currently, nearly 80% of all transactions between principals and brokers on Imarex take place on Trayport’s platform. The exchange, which counts the world’s largest ship owners, commodity traders and banks among its clients, now has 195 screens installed on desktops across Europe.

Tom Even Mortensen, Managing Director at Imarex said: "The key advantage of the Trayport platform is that it lets us trade via a hybrid system with both all-screen and broker-assisted trading. Feedback from the market has been overwhelmingly positive and we feel trade volumes speak for themselves. It has exceeded our expectations."

Powernext successfully launched in June 2004 using Trayport’s technology to trade French power futures. Thierry Carol, Head of Marketing and Sales at Powernext, said: "Trayport’s GV8 provides us with a solid electronic trading system and its flexibility as well as its functionality means our participants are able to trade instantly. Our numbers of participants and liquidity have both steadily increased since the launch."

Elliott Piggott, Commercial Director at Trayport said: "There has been increasing demand from the exchanges for electronic trading systems. Our technology is flexible enough to meet the needs of one-to-one, one-to-many and many-to-many models in any marketplace. We feel that the adoption of GV8 by these exchanges is just further proof that the software available today is a preferable route to an expensive, bespoke system build."