LONDON--(BUSINESS WIRE)--Intercontinental Exchange (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced that ICE Endex has added NetConnect Germany GmbH & Co. KG (NCG), the German market area operator, as a trading participant for the Dutch TTF gas spot market.
Operated by ICE Endex, the Dutch TTF gas spot market is currently used by Gasunie Transport Services (GTS) to balance the Dutch gas transmission system. From April 13, 2015, NCG has further diversified the tools it uses to procure balancing gas and services by extending its exchange trading activities to ICE Endex for the procurement of balancing gas for their market area's low calorific value gas system.
“By using the ICE Endex spot market NCG hopes to achieve an increase in the volumes available to the company. Taking this step will give us more flexibility when it comes to the buying and selling of the gas quantities we require to balance our market area,” says Torsten Frank, a director of NCG.
Pieter Schuurs, President, ICE Endex, said: “We are delighted that NCG has decided to extend its balancing activities to the ICE Endex TTF platform. With NCG joining our TTF spot market, ICE Endex is the first exchange to host two system operators that use our state-of-the-art TTF spot platform for balancing the respective grids in the Netherlands and Germany. NCG is an important market participant for the development of the North West European gas hubs and complements perfectly the long standing market area co-operations that ICE Endex has at the NBP, TTF and ZTP.”
As well as operating the spot and balancing markets in the Netherlands, ICE Endex offers identical services to the UK and Belgian transmission system operators. All markets are hosted on the ICE trading platform.
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NetConnect Germany handles the operational management of the market area cooperation between bayernets GmbH, Fluxys TENP GmbH, Thyssengas GmbH, Open Grid Europe GmbH, GRTgaz Deutschland GmbH and terranets bw GmbH. Its gas market area, which stretches from the North Sea coast down to the Alps, is the largest German market area, with around two thirds of all end-user gas volumes in Germany being transported via the NCG market area.
SOURCE: Intercontinental Exchange