Patsystem Links to International Petroleum Exchange
Patsystems has created an exchange-specific adapter for the International Petroleum Exchange (IPE) 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 $2bn in underlying value every day. “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 the IPE. He added that the addition of IPE’s portfolio to Patsystems’ J-Trader platform would provide access for a new segment of market participants.