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Tradition executes first hybrid OTC/cleared power deals in Turkey

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Tradition, one of the world’s largest interdealer brokers in commodity and financial products, has completed its first hybrid OTC/cleared Turkish power deals. The deals were cleared on VIOP, the Turkish Derivatives Exchange of Borsa Istanbul.

The trades consisted of two deals of 10MW Jan16 + Feb16 Baseload in Turkey at 162,70TL.
 
Tradition offers the full spectrum of OTC energy and energy-related physical and derivative products, including electricity, natural gas, crude oil and refined products, coal, environmental products, weather derivatives and exchange-traded futures and options.
 
Jason Curtis (pictured), Manager, CEE, SEE and Turkish Power at Tradition, says: “We at Tradition see this as another milestone development for the dynamic forward Turkish Power Market. This alternative execution provides more potential players access to this great market and helps to increase trade opportunities and liquidity.”
 
Serkan Bayraktar, SEE and Turkish Power broker at Tradition, says: “The whole transaction from execution to clearing was very smooth and dealt with in a very professional way by all parties involved.”
 

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