CALGARY, Jan. 8, 2013 /CNW/ - Natural Gas Exchange Inc. (NGX), a wholly-owned subsidiary of TMX Group, today announced the establishment of The Peter and Gail Krenkel - NGX Scholarship in Chemical Engineering at the University of Alberta. Mr. Krenkel, who retired as President of NGX at the end of 2012, is a 1971 Chemical Engineering graduate from the University of Alberta.
Tom Kloet, Chief Executive Officer of TMX Group said:
"Peter led NGX from its formation in 1992 and has helped build it into a leader in the industry over the past two decades. As a member of the TMX Group senior executive team, he has also contributed to our success as an enterprise overall. And, he has simply been one of the best colleagues I have had the privilege to work with. My colleagues and I across the company wish him and his wife Gail years of happiness in his well-earned retirement."
David Lynch, Dean of Engineering at the University of Alberta said:
"We'd like to thank NGX for their generous contribution to the advancement of Chemical Engineering studies at the University of Alberta in recognition of one of our distinguished alumni, Peter Krenkel, and his wife. Today's engineering students live in a world where so much is possible. Their success begins with what they gain through their engineering education, and the strength of that engineering education is a result of the success of those alumni who have gone before them. Peter's successful career at NGX is an inspiration to students of today."
The Peter and Gail Krenkel - NGX Scholarship in Chemical Engineering at the University of Alberta will, in perpetuity, award $1,000 annually (based on rate of return of capital investment) to a student with superior academic achievement entering the second year of a Bachelor of Science in Chemical Engineering.
NGX provides exchange, delivery, clearing and settlement services to over 250 energy trading customers in North America. In 2008, NGX launched an alliance with IntercontinentalExchange Inc. (ICE) whereby NGX uses ICE front-end trading technology. NGX currently offers products and clearing services at over 65 natural gas, crude oil and power locations in North America.
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, Natural Gas Exchange, Boston 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.
SOURCE TSX Group Inc.