Electric progress

Citation

(2001), "Electric progress", Work Study, Vol. 50 No. 2. https://doi.org/10.1108/ws.2001.07950bab.010

Electric progress

Electric progress

GFInet, the leading creator of independent online markets, has added UK electricity to its hybrid brokerage services. This followed the successful launch of GFInet's online European electricity platform that traded more than 7 million MW/h in its first month. The complete electricity product range including swaps and options is available. Voice brokerage operations have started and the online trading platform listing UK Electricity has been launched. "UK Electricity is a fast growing market that we estimate increased by 300 per cent last year alone", said Mark Davies, head of UK Electricity at GFInet. "By launching GFInet's successful platform here and combining it with our voice brokerage team we are well placed to replicate GFInet's European success in the UK." "Nearly 7 million mega-watt hours were traded online on GFInet's European Electricity system in the first month of operation with 90 users from 35 companies participating", said Ron Levi, managing director of energy at GFInet. "This number excludes voice brokered trades and is far higher than our high-end projections. We believe we are now clearly the number one online marketplace for European Electricity." GFInet creates liquidity by combining voice and electronic brokerage using a hybrid model. Customers are able to combine the expertise of voice brokers with the benefits of electronic trading systems. GFInet creates independent online markets. Voice-assisted and online trade execution are integrated with real-time and historical market data, market-specific commentary and analytics. Applicable to any financial, commodity and industrial product, GFInet offers cash and derivative trading capability for the fixed income, FX, equity, energy, commodity and telecom markets. Market experience and liquidity are provided by GFI Group, a leading global, interdealer broker.