Financial and Energy Exchange Group

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Fexglobal jl.gif

Financial & Energy Exchange
Fexglobal jl.gif
Founded 2007
Headquarters Sydney, Australia
Key People Brian Price, Executive Chairman
Products Energy, Commodities, Environmental Derivatives and Swaps
Website http://www.fex.com.au/


Financial & Energy Exchange

Financial & Energy Exchange Limited (FEX) is an Australian company established in 2006.

FEX is a market structure design and market operations business group. The business aim of FEX Group is to build and operate regulated and globally competitive licensed marketplaces for both cash and derivative products, with a particular focus on the development and listing of tradeable products within the commodity, energy and environmental asset classes. Markets within the FEX Group seek to provide participants and users in the Asia-Pacific region greater product relevance to enhance both the management of risk and the facilitation of investment in the region.

Confidence in the licensed markets owned directly or indirectly by FEX Group is reinforced by the market supervision and regulatory role undertaken by the Australian Securities and Investments Commission Australian Securities and Investments Commission (ASIC) as well as through the Reserve Bank of Australia's oversight of financial system stability. In addition ASIC also supervises FEX Group as an unlisted public company.

Mercari OTC Swap Execution Facility

The FEX Group owns a 100% interest in the licensed OTC swap execution facility known as Mercari Direct.

Mercari was established in 2005 and since January 2011 has been licensed to offer OTC markets in commodity, energy, interest rate, foreign currency and environmental product. Mercari uses the Mercari eSEF technology to operate the market place and is supervised by ASIC. Further information can be found at [1].

FEX Global

FEX Global has been granted an Australian Market License by the Minister under s795B of the Corporations Act (the Act), enabling it to offer energy, commodity and environmental derivative products.

The FEX group has partnered with the leading global clearing house CME Clearing to provide clearing services for the FEX derivatives market (subject to regulatory approval). Together, FEX and CME Clearing, offer a globally competitive licensed marketplace based in Sydney, Australia, offering participants and market users comprehensive and innovative derivative risk management products. The partnership with CME Clearing will offer FEX group customers the benefits of global scale and distribution, as well as potential for capital efficiencies.

News

  • October 26, 2016: FEX Global Confirms CME Clearing as Clearing Service Provider.
  • June 17, 2016: FEX becomes an associate member of FIA. FIA is the leading global trade organization for the futures, options and centrally cleared derivatives markets, with offices in London, Singapore and Washington, D.C. FIA’s membership includes clearing firms, exchanges, clearinghouses, trading firms and commodities specialists from more than 48 countries as well as technology vendors, lawyers and other professionals serving the industry.
  • October 12, 2015: Orc, the global market leader in electronic trading technology for listed derivatives, announced an extension to its trading and electronic execution offering with market access to FEX Global Pty. Ltd. (FEX). This connectivity offering will enable exchange participants to trade on the new execution venue.
  • September 22, 2015: FEX Global and Trading Technologies International announced that FEX has contracted with Trading Technologies to provide the exchange’s trading participants with the company’s next-generation TT trading platform.
  • April 10, 2013: FEX Global (FGL), a subsidiary of The Financial & Energy Exchange Group, today welcomed the announcement by the Minister for Financial Services and Superannuation and Minister for Employment and Workplace Relations, The Hon Bill Shorten MP, that it has been granted an Australian Market Licence for the operation of a derivatives market.
  • June 30, 2010: FEX launched SIM Venture Securities Exchange Limited (SIM VSE), a equities market for clean-tech firms, renewable energy and other related companies. Established in 2010, SIM VSE is a joint venture between Financial and Energy Exchange Limited (FEX) and the National Stock Exchange of Australia Limited (NSX). Established in 2010, SIM VSE is a joint venture between Financial and Energy Exchange Limited (FEX) and the National Stock Exchange of Australia Limited (NSX)
  • Dec. 30, 2009: FEX and China Beijing Environmental Energy Exchange (CBEEX) announced an agreement to work jointly on energy savings and carbon emissions reductions in Australia and China.
  • Nov. 7, 2008: In conjunction with FEX’s environmental product development partner enVex, the FEX Mercari Environmental ECN opened in November 2008. The first completed trade was for a AU$230,000 parcel of Australian Renewable Energy Certificates (RECs).
  • Sept. 9, 2008: RTS Realtime Systems Group, a leading trading solutions provider, announced that it has committed to provide connectivity to FEX.[1]
  • Aug. 26, 2008: GL TRADE, a global provider of multi-market and multi-asset solutions for international financial institutions, is pleased to announce that the group will provide ASP connectivity to Australia’s Financial & Energy Exchange (FEX).
  • July 15, 2008: FEX selected Argus Media’s price indices to settle their new exchange traded and over-the-counter coal contracts. Open positions in FEX coal contracts will be settled in reference to the Argus Newcastle index which is based on the price of Newcastle (Australia) loading coal. The Argus fob Newcastle price is published in Argus Coal Daily International, which provides benchmark assessments for the international coal trading community.[2]
  • July 1, 2008: In a move that is expected to accelerate the development of global carbon emissions trading, Climate Exchange plc, operator of the world’s largest carbon emissions marketplaces, has today acquired a 25 percent stake in enVex from FEX and Macquarie Capital Group.
  • May 21, 2008: FEX and Macquarie Group Limited announced the formation of a new company, enVex, to design environment products for quotation on exchanges and markets. It is a move that will help to establish Australia as a regional carbon trading hub. The joint venture will enable companies to trade in emission permits under the Australian Emissions Trading Scheme on FEX market structures.[3]
  • May 11, 2007: FEX will utilize OMX technology, the premium matching engine technology supplier to world exchanges, for its futures market trading engine.

Owners and Key People

The Financial and Energy Exchange ownership is comprised of a consortium of energy, financial market participants, traders, and investors. Shareholders include major mainland Chinese energy groups, NasdaqOMX, AMB Holdings of Western Australia, FEX-China, the Allied Coal group and the private equity group Iron Mountain.

Owners and Key People :

References

  1. RTS to offer access to Financial & Energy Exchange (FEX). FEX.
  2. Financial & Energy Exchange chooses Argus coal indices for settlement. FEX.
  3. Macquarie Group and Financial & Energy Exchange launch company to develop environmental markets. FEX.