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ICAP, part of the TP ICAP Group, a leading global markets infrastructure and data solutions provider, announces that it has completed a landmark deal in the weather derivatives market in Australia, bringing together a renewable energy provider and a reinsurance company participant with a fixed agreement for the first time.
The transaction brokered by ICAP has enabled an Australian utility company to lock in a fixed price for the electricity generated by its solar plant, with the volume of power in the trade determined by the amount of sunshine on the day. By doing so, the Australian Utility has the certainty of a fixed price in a market that is highly volatile, ensuring that it can effectively manage investment in the solar plant.
The reinsurance company benefits from exposure to the variability in sunshine and power prices, enabling it to diversify its risk exposure across different weather elements and regions.
Initiatives such as this enable market participants to diversify their risks, increase investment in the renewable energy industry and accelerate the transition to a low-carbon economy.
Kellee Campbell, Divisional Director, Energy and Commodities ICAP Australia, said “This deal highlights that, with the changing generator stack in Australia, weather is set to play an even more important role in generation outcomes and the way in which portfolios manage risk. Along with ICAP Australia’s well-established Electricity, Renewable and Gas market broking and data services, weather based structures is a valuable addition to our offering."
Nick Ernst, Managing Director, Weather Markets, TP ICAP said: “At TP ICAP we aim to be the broker for the transition to a green economy, and a key part of that is breaking down the obstacles to renewable energy. The volatility of renewable energy sources such as solar plants, which are affected by changing temperature, sunshine, wind and precipitation, can act as a deterrent for investment. Transactions such as this are an innovative way to reduce the variability in the energy price received by the producer, effectively enabling market participants to hedge the risks in their business and support growth in the solar industry.”
ENDS
About ICAP
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. ICAP matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks, post trade risk mitigation and ICAP’s information services provide data across all key asset classes and offers innovative solutions for real-time, end-of-day and historical products. ICAP is a TP ICAP company. For further information, please visit www.icap.com.
About TP ICAP Group plc
TP ICAP Group plc is a leading global markets infrastructure and data solutions provider. The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:
www.tpicap.com
Media Contact
TP ICAP
Fay Rajaratnam
E: Fay.Rajaratnam@tpicap.com
Maitland/AMO
+44 207 379 5151
E: tpicap-maitland@maitland.co.uk
TP ICAP Group, a leading provider of market infrastructure, announces that Parameta Solutions and Liquidnet have won two prestigious accolades at THE TRADE’s Leaders in Trading awards. The awards recognise the top trading talent at hedge funds, asset managers, banks, brokers, exchanges and technology vendors in the industry.
In a highly competitive shortlist, Parameta Solutions won the Outstanding Market Data Provider award. Parameta is a market-leading provider of over-the-counter (OTC) market data, from pre to post trade, helping clients manage complex markets more effectively.
Liquidnet, TP ICAP’s electronic trading network, was awarded Best Dark Pool Capabilities, along with being shortlisted for four other awards, including Editor’s Choice, Outstanding Dark Trading Venue and Best Market Access.
Nicolas Breteau, CEO of TP ICAP, said: “I am delighted that Parameta Solutions and Liquidnet have both been recognised as leaders in their respective markets by THE TRADE awards, particularly against such excellent competition. These awards are testament to the commitment of our respective teams and the ongoing trust our clients place in us. Thank you all.”
About TP ICAP Group plc
TP ICAP Group plc is a leading global markets infrastructure and data solutions provider. The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:
www.tpicap.com
Media Contact
TP ICAP
Fay Rajaratnam
E: Fay.Rajaratnam@tpicap.com
Maitland/AMO
+44 207 379 5151
E: tpicap-maitland@maitland.co.uk
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