Marex Spectron Group, a commodities and financial markets brokerage, has facilitated the first brokered NBP Calendar Spread Option (CSO).
The CSO, a Sep/Oct -3.0 put option, giving the owner the right to sell Sep/Oct NBP at 3.0 p, traded at a premium of 0.9 p/th.
The two counterparties to the trade were EDF Trading and RWE Supply & Trading.
“We are delighted to have been involved in such a landmark trade and hope we can continue to contribute to the development of interest and liquidity in this exciting new type of option,” says Chris Dougan, head of energy options at Marex Spectron.
Marex Spectron’s energy options desk is a long-established broker of options in gas, power, coal, emissions and crude oil markets. Marex Spectron is also a major broker of options on the freight, metals and agricultural product markets.