Ginga Petroleum, a company offering broking services for the energy markets from Singapore, has gone live with a trading screen for its coal brokers using Trayport’s GlobalVision Broker Trading System.
Ginga will list coal swaps products (API2, API4, gC ICE Newc futures) electronically and will also list Indonesian sub-bituminous coal swaps and a sub-bit physical contract.
The physical contract is being developed in conjunction with market participants and is based on the specifications of the McCloskey Indonesian Sub-Bituminous FOB Marker Index. The intention is that this contract will bring greater transparency to this market.
“Trayport’s GlobalVision Broker System screen went live at Ginga today and we hope to have an increasing number of users, both in Asia and Europe, who will be able to view and trade Indonesian sub-bit coal physical and all swaps contracts on one trading platform,” says Zenny Tran, coal team leader at Ginga. “When we have built increased liquidity in coal using the Trayport platform we hope to add other products; base oil being high on our initial list.”
Jeremy Harris, Trayport’s vice president for Asia, adds: “Trayport has provided the electronic trading system used by JOX, the Japanese Oil Exchange, for the past three years. Ginga was a founding shareholder in JOX and so had direct experience of working with Trayport. The widespread reach of Trayport’s Trading GatewaySM aggregator service, with over 160 trading firms relying on it to trade OTC and Exchange traded coal, and other energy products, further encouraged Ginga to adopt the hybrid voice/electronic brokerage model Trayport does so well.”