Top OTC brokers form energy broker association

WASHINGTON, Nov. 5, 2002 — An unprecedented initiative was launched recently to assist the energy trading industry with addressing current issues and enhancing the energy markets. Seven of the top Over-the-Counter (OTC) energy brokers announced the formation of the Energy Brokers Association, a trade association recently incorporated in Washington, D.C.

The founding members are Amerex Group, APB Financial LLC, GFI Group Inc., Natsource LLC, Prebon Energy Inc., Starsupply Petroleum LLC and TFS Energy LLC.

This coordinated effort is being made as a proactive response to the current challenging environment in the energy markets. The Association recognizes the need for all the key players in the energy markets to define and adopt reliable practices and standards in order to improve and advance the industry, both now and in the future.

The Energy Brokers Association will work with energy companies and associations, other financial industry participants and governmental agencies to address financial, regulatory and operational issues. The EBA will also more clearly define the role of OTC brokers in the marketplace. Each of the founding companies is committed to providing clients with the most professional, comprehensive and focused service available.

Companies regularly engaged in the OTC brokering of energy and energy related physical and derivative products to institutional clients are encouraged to join as full members. Members of the Energy Brokers Association will be encouraged to adhere to appropriate organizational, financial and operational regulations and codes of conduct that the Association has set forth.

These codes are consistent with standard practices, which the companies already employ as part of their individual business operations. Companies engaged in related businesses, are welcome to join as associate members.

The Executive Committee of the Energy Brokers Association consists of the following representatives: President – Chris Edmonds (APB), Vice President – Alan Kurzer (TFS), Treasurer – Jack Cogen (Natsource), Secretary – Steve Town (Amerex), Don Fewer (GFI), Dave Rutter (Prebon) and Rob Ryneveld (Starsupply).

Additional information including membership requirements will be announced in the next few weeks and will become available on the Energy Brokers Association website: http://www.energybrokersassoc.org .

ABOUT THE COMPANIES

Amerex Group is a worldwide OTC and futures market energy brokerage, covering all energy markets in North America, Europe and Asia. In its North American headquarters in Houston, Amerex assists the market in electrical power, natural gas, oil, refined products, liquids, emissions, and weather trade execution. Contact information at http://www.amerexenergy.com , or call Mike Prokop 281 340 5290.

APB Financial LLC, an ICAP company, offers full service over-the-counter commodity brokerage with information and technology to bring buyers and sellers together. The company’s product offerings include electricity, natural gas, coal and other energy related products. Through it’s online platform, True Quote, APB offers customers real-time price discovery and execution. APB is headquartered in Louisville, Kentucky with offices in Houston, Texas; Chapel Hill, North Carolina; Bergen, Norway and Amsterdam. More information is available at http://www.apbenergy.com , http://www.truequote.com or by calling Chris Edmonds at +1 502 212-4903.

GFI http://www.GFInet.com . GFI is an independent provider of software, brokerage and market data services designed to enable efficient trading of cash and derivative instruments in credit, equity, FX, energy and commodity markets. Specializing in complex, often new and illiquid markets, GFI combines a hybrid electronic and voice-assisted trade execution platform with pre-and- post trade products and services such as real time and historical market data, market analysis, and derivative pricing software. Headquartered in New York, GFI was founded in 1987 and employs more than 600 people with additional offices in London, Hong Kong, Tokyo, Singapore and Sydney. GFI has more than 1,500 clients including the leading banks, broker-dealers, trading houses, insurance companies, energy companies and utilities. Its brands include GFI, GFInet and FENICS.

Natsource® LLC is a provider of strategic advisory, brokerage, and asset and portfolio management services for energy related products in emissions allowance, power, natural gas, coal, and weather hedging markets. A pioneer in energy and environmental brokerage, Natsource assists leading organizations and governments around the world in strategic management of energy and environmental risk. More information is available at http://www.natsource.com .

Prebon Energy is one of the world’s leading institutional brokers of physical and financial energy products, serving the power, natural gas, coal and oil markets. Prebon Energy is part of the Prebon Yamane group of companies, which provides brokerage services for institutions worldwide in the OTC markets, including the markets for foreign exchange, money market instruments, emerging markets products, derivatives, securities and energy products. The firm and its affiliates comprise more than 1,600 staff located in 28 financial centers worldwide, including close to 200 energy professionals in offices in the New York area, Amsterdam, Houston, London, Salt Lake City, Singapore, Sydney and Tokyo. http://www.prebon.com .

Starsupply Petroleum LLC is a prominent worldwide brokerage firm that facilitates trades in physical and financial oil and oil products in many niche markets. Its goal is to provide market liquidity and price discovery in the oil commodity markets. Starsupply offers this full scope of intermediary services to commercial and financial institutions around the world including oil corporations, refiners, trading companies, investment banks, utilities and large end-users. For more information please visit http://www.starsupply.com .

TFS Energy is a global institutional broker of OTC physical and derivative products and exchange traded futures and options. From offices in Stamford, New York, London, Frankfurt, Singapore and Sydney, TFS brokers coal, electricity, emissions, natural gas, oil, refined products and weather. Founded in 1985, TFS is also active in the foreign exchange, equities, metals and pulp & paper markets. In addition, affiliated companies operate in energy consulting, recruitment and venture capital. TFS is listed on the French Stock Exchange (Second Marche: TFS) and is part of Viel & Cie, in Paris. Please visit http://www.tfsenergy.com for more information.


Source: Energy Brokers Association


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