The recently joined Altra Energy Technologies and QuickTrade LLCposted record gas trading volumes Jan. 28 when their combinedtrading systems reached 30 Bcf in deals. Previous record volumesfor the stand-alone companies when combined were less than 30 Bcf,said Altra Chairman Rusty Braziel

Altra acquired QuickTrade and QuickTrade Canada Jan. 21. Thedeal was announced Jan. 14 (see NGI Jan. 18, 1999). Altra toldcustomers last week that the two trading platforms would be mergedinto one within 90 days and that Altra Streamline customers wouldtransition over to the QuickTrade system during that period.

The resulting system will trade at about 150 points, Brazielsaid. Adding new points is not a priority going forward, but addingtraders is, he said. The combined company has about 10% of theoverall gas market, Braziel estimated. Altra’s Chalkboard tradingsystem for liquids has about 40% of the market, and somethingaround that number is the goal for gas trading, he said. “Recentgrowth in volume is an indication that users are seeing greatervalue in liquidity and price discovery which these systems providethe market,” said QuickTrade President Brian Soutiere.

©Copyright 1999 Intelligence Press, Inc. All rightsreserved. The preceding news report may not be republished orredistributed in whole or in part without prior written consent ofIntelligence Press, Inc.