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Streamline-QuickTrade Sets Volume Record

Streamline-QuickTrade Sets Volume Record

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

Altra acquired QuickTrade and QuickTrade Canada Jan. 21. The deal was announced Jan. 14 (see NGI Jan. 18, 1999). Altra told customers last week that the two trading platforms would be merged into one within 90 days and that Altra Streamline customers would transition over to the QuickTrade system during that period.

The resulting system will trade at about 150 points, Braziel said. Adding new points is not a priority going forward, but adding traders is, he said. The combined company has about 10% of the overall gas market, Braziel estimated. Altra's Chalkboard trading system for liquids has about 40% of the market, and something around that number is the goal for gas trading, he said. "Recent growth in volume is an indication that users are seeing greater value in liquidity and price discovery which these systems provide the market," said QuickTrade President Brian Soutiere.

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