Griffin Markets Group to introduce energy trading platform

London, 25 April 2012

Griffin Markets Group, an innovative new energy trading platform provider, today announced that it will introduce a Multilateral Trading Facility (‘Griffin MTF’) for the European over-the-counter (OTC) energy markets. The Griffin MTF will launch in the third quarter of 2012, with OTC gas, electricity and coal contracts and is subject to regulatory approval by the UK’s Financial Service Authority.

The Griffin MTF will use one of the world’s fastest and most advanced trading technologies, provided by IntercontinentalExchange (ICE) and will be distributed via WebICE, the front-end to ICE’s trading platform.

From pre-trade counterparty credit management to post-trade processing and settlement, the Griffin MTF will offer an electronic solution to increase value and reduce cost for market participants, whilst traditional voice broking will remain available for less liquid markets such as gas, power, coal and emissions options.

“The combination of ICE’s leading technology and Griffin’s market experience and expertise will provide OTC gas and power participants in Europe with an innovative and low cost way of executing and processing their business via a more flexible and secure electronic trading venue.  Customers will also benefit from the option to configure the Griffin MTF with existing middle and back office systems,” said Andrew Stephens, Co-Founder and Chief Executive Officer, Griffin Markets Group.

“Since electronic trading was first introduced to the European energy markets, technology and service provision has not kept pace with industry developments, in particular the increase in product complexity and new counterparties. As regulatory requirements are deepening and the demand for clearing increases, now is the time to introduce more choice and a new execution model for these markets,” added Stephens.

About the Founders

Griffin Markets Group is a new energy trading platform business, established in 2012 by founder and Chief Executive Officer Andrew Stephens. Griffin Markets provides a multilateral trading facility (‘Griffin MTF’) for the European OTC energy markets. As former Chief Executive Officer of the Spectron Group, Stephens has been instrumental in the development of the OTC energy markets in the last decade, in particular through pioneering the introduction of electronic trading at Spectron Group.

Stephens is partnered by Simon Davidson and Andrew Strickland who, between them, have more than 50 years’ industry experience.  In addition, Oliver Maibaum will join Griffin Markets Group from the European Energy Exchange (EEX), where he was a Managing Director, and will lead Griffin’s strategy and entry into the continental European energy markets as a member of the Board and Executive Management Team.

Davidson was previously Chief Information Officer and latterly Managing Director of Spectron’s European and Asian businesses.  Strickland joins Griffin from ICAP where he oversaw ICAP’s successful entry into the UK power, coal and emissions markets.  They will also be joined by Tim Popham who will be returning to the energy markets with Griffin to renew the partnership he first formed with Stephens in 1996.

Headquartered in the UK and with a German office soon to open in Berlin, Griffin Markets Group has created a dynamic and experienced team of energy market professionals from across the industry, including back office and IT development teams.

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See more at www.griffinmarkets.com