Aug 01, 2011, 08:30 ET
ATLANTA, Aug. 1, 2011 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the successful launch of BRIX, a Brazilian marketplace for electric power.
BRIX offers a transparent, electronically traded marketplace for key Brazilian power contracts, including a range of risk management tools for eligible power market participants. Bids, offers and trades are shown in real time on the BRIX screen for all participants.
BRIX launched on July 28 with 30 market participants including Agroenergia Comercializadora, Bunge, CESP, Clealco, Compass, Coteminas, EletroNorte, Eucatex, Ibrame Laminacao, MPX, Quanta, Rexam, Seal Energy and White Martins. In the first two days of operation, power contracts representing 40,305 MWh were traded.
Said Chuck Vice, ICE President: "We are pleased that we've hit the ground running with a successful launch of BRIX. This marks the first in a series of steps to increase transparency pricing in Brazil's power market. We believe BRIX will make an important contribution to the development of Brazil's market infrastructure and will benefit the Brazilian energy free market."
BRIX was established as a joint venture between ICE, Roberto Teixeira da Costa, economist, founder and first president of CVM, the Brazilian financial regulator; Eike Batista, CEO of EBX Holding which invests across industrial sectors including energy, infrastructure and mining; Josue Gomes da Silva, president of Coteminas, the largest textile group in the Americas; and Marcelo Parodi, founder and president of Compass Energia.
More information can be found at www.BRIX.com.br.
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S. and ICE Futures Canada list agricultural, currencies and Russell Index markets. ICE is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 70 countries.
The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, IntercontinentalExchange & Design, ICE, ICE and block design. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see: www.theice.com/terms
BRIX was formed to provide transparency, competitiveness and liquidity to the growing Brazilian power market. BRIX is an electronic marketplace open to all market participants – free consumers, generators and traders – who can directly enter their bid/offer for power with total transparency, security and ease.
The BRIX electronic trading platform offers efficiency to the market by providing price transparency and the opportunity to reduce transactional costs. A transaction to buy or sell at a firm price can be completed in just one click on one of the world's fastest trading platforms.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2010, as filed with the SEC on February 9, 2011.
Share this article