APX integrates UK arm UKPX into group

6 July 2004 – APX Group, the gas and power trading group, announced the integration of UKPX, the UK-based power trading platform for spot, prompt and futures.

UKPX’s operations and trading platform have been combined with APX’s London-based power exchange formerly known as APX UK and the new integrated exchange has been rebranded UKPX.

APX formally closed the deal to acquire the business operations of UKPX Ohmex. The new trading platform named, Eurolight, which offers members combined strengths OF OHMEX’s PowerClick and APX’s former platform Spotlight, went live on the same day. UKPX spot and prompt markets have been migrated to the Eurolight platform and contracts listed range from half hourly up to weekends.

UKPX’s forward market will migrate to APX on August 18 2004, when the new forwards contracts will be listed on UKPX screens and cleared by APX’s clearing partner, LCH.Clarnet. In the interim, OMHEX will continue to provide clearing services for the UKPX’s forwards market.

UKPX spot and prompt volumes for the year to date total 15 602 GWh. Initial membership of the new exchange has reached 36 and comprises a range of producers, suppliers and energy traders based in both the UK and continental Europe.