Amerex Energy, based in Sugar Land, TX, announced Tuesday it had joined the Committee of Chief Risk Officers (CCRO), as the first brokerage firm to be invited to join the organization since its inception in late 2002.
The CCRO, which has grown to 30 members, active in the physical and financial trading and marketing of electricity and natural gas, has been developing and promoting standards for the industry.
“We are looking forward to working directly with the other members of the CCRO in the coming year on a number of important market-related issues”, said Michael Prokop, senior vice president of Amerex Energy, who will be the company’s representative to the CCRO.
Amerex already has been working closely with the Market Price Reporting Action Committee (MPRAC), a coalition of members of the gas and power industries, their customers and price survey publishers, that was organized by the CCRO earlier this year.
MPRAC has been gathering market data to assist the Federal Energy Regulatory Commission with its assessment of the operation of the gas and power markets (see Daily GPI, March 11).
The addition of the Amerex brokerage is a major step in achieving a goal set by CCRO Executive Director Bob Anderson to attract additional members to the organization that can contribute new insight into the energy markets.
Amerex Energy, founded in 1978, is a leading over-the-counter energy brokerage, with offices in Texas, New Jersey, London, Singapore, and Tokyo. The company provides brokerage services in the electricity, natural gas, petroleum products, domestic and foreign crude oil, and gas liquids markets. It also is a leading provider of energy data products, Exchange-based clearing services, and electronic trade confirmation services.
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