ICAP Energy expands coal team to US
10 May 2011
London/Louisville, 10 May 2011 -- ICAP Energy, the energy arm of ICAP plc, announced today that it has expanded its coal broking activities to include a US-based team for coverage of international coal. The US desk, located in Houston, offers financial swaps for delivery at Amsterdam, Rotterdam and Antwerp (API2) and Richards Bay South Africa (API4) as an extension of ICAP’s London-based coal and forward freight derivatives desk.
Thomas Gibson, Vice President of ICAP in Houston, said: “Providing greater access to international coal markets will clearly be of benefit to our clients. We are thrilled to leverage the success and strong presence of our London coal desk and to provide a more efficient marketplace.”
Dennis Walton, Associate Director of ICAP Energy Ltd. in London, said: “International markets for coal have grown significantly in recent years. ICAP now offers its clients a 16-hour execution service in coal through hubs based in London and Houston."
By having a team physically based in the US, ICAP hopes to increase its level of service and price execution to its current clients who trade both domestic and international coal products. In addition, the combination of these markets with ICAP Shipping, becomes a single-source for transatlantic coal arbitrage opportunities.
Contacts ICAP Energy
Thomas Gibson Vice President +1 281 340 8300
Dennis Walton Associate Director +44 (0) 20 7532 4182
Guy Taylor Corporate Communications +1 212 341 9759
Candice Adam Argentus PR +44 (0) 20 7397 2915
About ICAP Energy
ICAP Energy, a unit of ICAP plc, the world’s premier electronic and voice interdealer broker, is an innovative leader in the energy and shipping industries, providing full-service and over the counter broking and advisory capabilities to a broad spectrum of businesses throughout the world. The group has approximately 350 staff located in London, North America, Amsterdam, Bergen, Singapore, and Sydney. ICAP Energy offers real-time price discovery and execution services in crude oil and oil products, electricity, natural gas, coal, base and precious metals, iron ore, emission credits, freight and weather derivative and physical products. For more information go to www.icapenergy.com.
ICAP is the world’s premier interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com