Patsystems connects to the IPE

A range of new energy products now part of the Patsystems portfolio Patsystems, London, Friday 11 February 2005. Patsystems, the global supplier of trading technology, has created an exchange-specific adapter for the IPE (International Petroleum Exchange) in London and has passed all IPE conformance tests. Live trading is due to begin in the next few weeks.

Users of Patsystems’ J-Trader front-end can now trade contracts in Brent crude, gas oil, natural gas and associated crack spreads. In connecting to the IPE, Patsystems has increased its global coverage to more than 30 exchanges.

The IPE is Europe’s leading energy futures and options exchange, trading over $2 billion in underlying value every day, and in recent months has seen record volume growth for electronic trading in gas oil and Brent crude.

‘We have worked closely with our customers to develop a range of risk management tools within today's dynamic energy markets,’ said Richard Ward, CEO of IPE. ‘The addition of IPE's portfolio to Patsystems’ J-Trader platform will provide access for a new segment of market participants.’

Commenting on the new connection, Kevin Ashby, CEO of Patsystems, said: ‘We are continuing to expand our connectivity as well as strengthen our trading applications, and I am delighted that our end users now have the chance to trade energy futures on the IPE. We will add further exchanges during the year and increase the power and versatility of our trading applications through new technologies that will be progressively released from early 2005 onwards.’

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