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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