The first energy exchange in Colombia is soon to start operating
The first energy exchange in Colombia is soon to start
operating, in a project run by Bolsa de Valores de Colombia,
the stock exchange, and XM, an affiliate of
Interconexión Eléctrica – ISA, the
electricity and telecoms group. In separate plans the BVC says
it will also introduce single stock futures on finance and
Juan Pablo Córdoba, president of BVC, told Futures
and Options World that the energy market, Derivex, was in the
final stages of development and would start trading around
October, subject to approval by the Superintendencia Financiera
de Colombia, the country’s regulator.
Electricity futures will be the first to be listed, but
Córdoba said that in the next two years Derivex might
also add gas futures.
"These are two products that we believe the local market has
sufficient demand and need for, and from then on we can
continue to grow, depending on market conditions and market
demand, into biofuels, coal and other types of energy
commodities," Córdoba said.
XM, which operates the Colombian electricity spot market,
owns 50% of Derivex, and BVC 50%.
Córdoba said the deal was a "wedding" between the
electricity and financial sectors in Colombia. "We hope that
both participants in the markets participate in Derivex," he
The owners are in the process of selecting a chief executive
for the exchange.
This article is available to subscribers and registered users
Please log in to continue reading.
Not yet registered? Take a free trial.
If you have already taken a free trial you
have ongoing access to the analysis section of FOW.com including this story.
Log in using your details below to read.
Already have an account? |