FEX Global
| FEX Global | |
| |
| Founded | 2006 |
|---|---|
| Headquarters | Sydney, Australia |
| Key People | Brian Price, Executive Director |
| Products | Energy, Commodities, Environmental Derivatives and Swaps |
| Website | http://www.fex.com.au/ |
The Financial and Energy Exchange Group (FEX Group) is an Australian market structure design and operations company established in 2006. Its business aim is to build and operate regulated and globally competitive licensed marketplaces for derivative products, with a focus on commodity, energy and environmental asset classes. FEX Global is currently in a pre-launch phase.[1]
FEX uses Nasdaq technology for its futures market trading engine and a proprietary trading technology for its Mercari swaps execution facility. FEX Global’s markets are cleared by CME Clearing, with approval from the Australian Securities and Investments Commission (ASIC) and the US Commodity Futures Trading Commission.[2][3][4][5]
FEX markets are regulated by ASIC as well as through the Reserve Bank of Australia's oversight of financial system stability.
On March 30, 2022, the U.S. Commodity Futures Trading Commission approved FEX Global's registration as a Foreign Board of Trade (FBOT) to operate markets in energy, commodity, and environmental derivative products. The CFTC's order allows FGL’s members and other U.S. participants to enter orders directly into its trade matching system.[6]
Mercari OTC Swap Execution Facility[edit]
The FEX Group owns a 100 percent interest in the licensed OTC swap execution facility known as Mercari Direct.
Mercari was established in 2005 and since January 2011 has been licensed to offer OTC markets in commodity, energy, interest rate, foreign currency and environmental product. Mercari uses the Mercari eSEF technology to operate the market place and is supervised by ASIC. Further information can be found at www.mercari.com.au.
FEX Global[edit]
FEX Global was granted an Australian Market License by the Australian Government under s795B of the Corporations Act, enabling it to operate regulated markets in energy, commodity and environmental derivative products.
In July 2020, the company listed the following futures and options contracts to be traded on its exchange: FEX API5 Newcastle coal, ESPO Asia crude oil, base and peak load power, JCC Asia Crude and ICX 62 Iron Ore.[7]
The FEX group partnered with CME Clearing to provide clearing services for the FEX derivatives market.[8]
On March 15, 2021, FEX Global announced it would launch a futures exchange on March 26, 2021 that would offer energy, environmental and commodity futures and options products. The FEX Global exchange planned to open with futures and options on Australian Power, Australian dollar iron ore, Japan and ESPO (East Siberia-Pacific Ocean) crude. The company said it planned to further expand its product offering in the third-quarter of 2021 to include gas, solar, battery storage, environmental contracts and ACCU (Australian carbon credit units), pending regulatory approval. The contracts will be centrally cleared by CME Clearing. [9]
On April 6, 2021 FEX Global and Trading Technologies International announced that FEX Global had contracted with Trading Technologies to provide the exchange’s trading participants with the company’s TT trading platform, making all futures and options listed on FEX Global available for trading through TT.[10]
On August 22, 2023, FEX Global and Mysteel announced a September 11 launch date for the FEX Global Mysteel (SEADEX) 62 Iron Ore (AUD) Futures and Options contracts. FEX also said the Australian dollar denominated 50MT contract would offer additional risk management opportunities for industry participants with an interest in the forward price of iron ore.[11]
Key People[edit]
- Brian Price, Executive Director and Founder
References[edit]
- ↑ About FEX. FEX Global.
- ↑ FEX global confirms CME Clearing Europe as clearing service provider. FEX Global.
- ↑ About FEX Group. FEX Group.
- ↑ Chicago Exchange giant clears deal with FEX to compete with ASX. Michael West.
- ↑ Australian CS Facility License. ASIC.
- ↑ CFTC Issues Order of Registration to FEX Global Pty Ltd to Permit Trading by Direct Access from the U.S.. CFTC.gov.
- ↑ FEX Global Products. FEX Global.
- ↑ CME Clearing partnership with FEX Global. CME Group.
- ↑ Launch of FEX Global Australian Futures Exchange. Mondovisione.
- ↑ FEX Global, the Newly Launched Australian Futures Exchange, Contracts with Trading Technologies to Distribute the TT® Platform to Market Participants. Trading Technologies.
- ↑ FEX Global Mysteel Iron Ore Futures Launch – September 11, 2023. FEX Global.