CALGARY, July 28, 2014 /PRNewswire/ - NGX and Alliance Pipeline announced, effective today, the addition of the Alliance Chicago Exchange market hub (APC-ACE) as a cleared trading point on NGX.
"We continue our work to broaden NGX's presence in the U.S. physical natural gas market," said Jim Oosterbaan, President and CEO, NGX. "The Alliance Pipeline system has a proven track record in the North American market and we are pleased to bring our customers new trading opportunities and access to increased liquidity with the addition of APC-ACE to NGX's physical clearing locations."
The service will benefit shippers by offering natural gas clearing and trading at the APC-ACE location, via NGX, which is a wholly-owned subsidiary of TMX Group that offers trading and clearing services for natural gas, crude oil and electricity contacts.
"This new offering complements our existing ACE Hub services," said Cathie Legge, Manager, Customer Service and Marketing at Alliance Pipeline. "NGX is a key clearing and trading player. This will make trading on the Alliance system more convenient and transparent, to the benefit of both our shippers and the marketplace."
NGX also recently added Dominion NP and Waha as clearable points and now offers products and clearing services at 76 natural gas, crude oil and power locations in North America, including 52 locations in the U.S. For more information, please visit www.ngx.com.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
About Alliance Pipeline
Alliance Pipeline Limited Partnership ("Alliance Canada") owns the Canadian portion of the Alliance Pipeline system. Alliance Canada is owned 50 percent each by Enbridge Income Fund, an affiliate of Enbridge Income Fund Holdings Inc. (TSX:ENF), and Veresen Inc. (TSX:VSN).
Alliance Pipeline L.P. ("Alliance U.S.A.") owns the U.S. portion of the Alliance Pipeline system. Alliance U.S.A. is owned 50 percent each by Enbridge Inc. (TSX:ENB) (NYSE: ENB) and Veresen Inc. (TSX:VSN).
SOURCE Toronto Stock Exchange