Tullett Prebon Energy Singapore completed its first EEX Japan Power futures deal

21.05.20

Tullett Prebon Energy Singapore, part of TP ICAP, the world’s largest interdealer broker, has settled its first European Energy Exchange (“EEX”) Japan Power futures deal on Monday 18th of May.

This trade coincided with the official launch of the newly listed product offered by EEX, making the Tullett Prebon deal one of the first ever transactions. The transaction completed was a June 2020 Japan Area Base Load contract between the Japanese utility Tohoku EPCO Energy Trading and the global commodity trader, Trafigura Pte Ltd.

Tullett Prebon continues to expand its global power offering into new markets and sees significant growth opportunities in the Japanese market. Leveraging its market leading LNG business in Asia, and recruiting experienced brokers in Japan, Tullett Prebon is creating a strong team to ensure the right resources are on the ground and able to deliver the best possible network and services for clients.

Tobias Davis, Head of Power & LNG Asia, Tullett Prebon said: “We are proud to be involved in the development of the Japanese Power Market and see this first deal as an important milestone for our business. We are excited to work with existing and new entrants within this market as we continue to grow our offerings and reach across the APAC region.”

Steffen Koehler, Chief Operating Officer, EEX said “From the very beginning of this project, when we announced our intention to launch a clearing solution for Japanese Power Futures in 2018, Tullett Prebon were there for us. Over those past two years, EEX has continued to receive fantastic support and encouragement for which I am very grateful. I would like to offer my sincere thanks to the team and congratulate them on being one of the 1st brokerage firms to enter this exciting and dynamic market”.


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