Trayport, a supplier of electronic trading systems, has announced further adoption of electronic trading in the Spanish power markets. Energy broker CIMD, A.V. recently enhanced its existing voice operations with the launch of Trayport’s hybrid electronic trading platform.
Trading in the Iberian energy market has shown an increase during the first half of 2005. The underlying strength of the Spanish market has been boosted by factors such as the continued development of the adjacent French markets and the rise in sophistication of the trading infrastructure of pan-European energy traders.
Trayport’s GlobalVision Broker Trading System enables Grupo CIMD to take advantage of the increased interest in this market by streamlining access to prices, providing a vehicle for quickly moving in and out of positions, and offering an interface that easily integrates into price makers’ trading engines.
Jos Salmern, managing director for energy markets at InterMoney Energa, S.A., the consulting company at Grupo CIMD, said: “After brokering the Spanish power market for years by telephone, CIMD, A.V. decided to launch an electronic screen because of the increased interest in the market this year. They were able to enter the market straight away, and feedback from the traders is that Trayport’s platform is very quick and easy to deploy. CIMD A.V. has seen great results so far and is considering implementing GlobalVision across different asset classes.”
“We are extremely pleased to be expanding further into the Spanish energy market with Grupo CIMD,” said Edmund Hor, managing director at Trayport. “The speed of this deployment in a new market confirms our view that Trayport’s software is the fastest solution available today and we look forward to further expansion into North America, Eastern Europe, the Middle East and North Africa over the coming year.”