SSY Futures Ltd Arranges the First Trade in EEX’s Japanese Power Kansai Area Base Futures
SSY Futures Ltd is pleased to report that it has arranged the first trade in the new Kansai Area Base Power Futures contract. The trade was for five lots of the contract for settlement against an index of physical trades on the Japan Electric Power Exchange.
“SSY Futures Ltd is already well known in its core area of Forward Freight Agreements, as well as derivatives in the steel complex and base metals. We are now carving out a niche in energy futures, so we are delighted by this early success in the new Kansai electricity contract” said James Whistler, head of SSY’s energy derivatives business.
The trade will mitigate the risk on the cost of spot electricity in the Kansai region of Japan in October and November; it is a cash settled contract. The contract is listed and cleared by EEX a division of The Deutsche Borse Group.
“Since launching our Japan Power offering on 18th May this year, we have seen a number of milestones which all contribute to the further development of the Japanese power derivatives market. This first trade for the Kansai area, brokered by SSY, represents another significant milestone. For me personally and on behalf of the entire Japan Power team at EEX, I would like to thank James Whistler and the team at SSY for their continued dedication and commitment to this exciting and dynamic market” Steffen Koehler, Chief Operating Officer.
For more information on broking services and daily reports contact:
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About SSY Futures Ltd
SSY Futures Ltd is one of the largest Dry Bulk and Freight derivatives brokerages in the World, with brokers in London, Singapore and Stamford. SSY Futures specialises in the steel complex and base metals derivatives as well as Forward Freight Agreements, with a new energy business targeting gas and power contracts. SSY Futures is a wholly owned subsidiary of Simpson Spence Young.