Amsterdam Power Exchange Acquires Automated Power Exchange UK.Business Editors/Energy Editors AMSTERDAM, Netherlands & HOUSTON--(BUSINESS WIRE)--Feb. 14, 2003 On Friday 14 February, Amsterdam Power Exchange acquired 100% of the shares in Automated Power Exchange UK Ltd., formerly owned by Automated Power Exchange Inc. of California, USA. CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bert den Ouden of Amsterdam Power Exchange Spotmarket BV and Brad Richter Bradley Nathan Richter (born August 9, 1969 in Enid, Oklahoma, U.S.) is a Classical guitarist. He currently resides in Tucson, Arizona with his wife Kerstin and their two sons. Education and Background Brad began teaching himself to play guitar and compose at age 12. , VP Corporate Development of Automated Power Exchange Inc. signed the contract. The two companies have also agreed that Amsterdam Power Exchange will have the rights to the brand name "APX APX Approximately APX ascorbate peroxidase APX Amsterdam Power Exchange APX Automated Power Exchange APX Alt Preset Extreme (MP3 encoding preset) APX Average Page Exposure APX Ateliers de Puteaux APX Airborne Radar Transponder " in all 51 countries in Europe. "We are very pleased with the Amsterdam PX-Automated PX agreements," says CEO Bert den Ouden of Amsterdam Power Exchange. "The clarity of the trademark issue is good for both companies and the market. Working from a stable spot market in the Netherlands, we now will have more operational synergy between markets in the Netherlands and the UK. The UK market certainly has a lot of potential. The international approach means we can provide our participants with a wider range of products and services. We will continue to support APX UK's existing services while also looking to introduce new services in response to the needs in the market." "This transaction will allow Automated Power Exchange to focus on its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. core business of providing scheduling and settlement service for power and natural gas," says John Yurkanin, CEO of Automated Power Exchange, "We are hopeful that Amsterdam PX can build on the success of our prior efforts in the UK in expanding their business platform." Automated Power Exchange UK will now be known as APX UK. APX UK is regulated by the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. . About Amsterdam Power Exchange: Since May 1999, Amsterdam Power Exchange operates an electronic trading platform for day-ahead electricity in The Netherlands. APX has 40 market participants from ten different countries. The average daily volume on the APX spotmarket in 2002 corresponded with 15 % of the net electricity consumption in the Netherlands. The APX-index is widely used as benchmark for OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). contracts. Since its beginnings, APX advocates more transparency in the energy market. In conjunction with partners ENDEX ENDEX European Energy Derivatives Exchange N.V. ENDEX End of Exercise ENDEX Environmental Data Index ENDEX exercise termination (US DoD) and London Clearing House, APX operates OTC (over-the counter) clearing services for energy contracts. Amsterdam Power Exchange Spotmarket BV is a wholy owned subsidiary of TenneT, the Dutch Transmission System Operator. About Automated Power Exchange (UK) Ltd. APX UK operates a cleared, anonymous spot market and third party notification services for power contracts in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. . It began offering services with the introduction of NETA in March 2001. It currently has 25 participants. Last year, APX UK was appointed NGC's agent for notifying PGBT PGBT President George Bush Turnpike (Dallas, Texas) PGBT Pre-Gate Closure BMU (Balancing Mechanism Unit) Transaction contracts; it was also recently appointed a Market Index Data Provider by Elexon - a service which is planned to Go Live on 25 February. About Automated Power Exchange Inc. A transaction processing service provider for wholesale energy markets, APX processes more than 700 million megawatt hours per year for approximately 200 client companies in North America and Europe. Services include scheduling and settlement, trading platforms and brokerages, generation information, and demand response. A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , APX has offices in California, Texas, Connecticut and Norway. Note for the editor: For more information concerning: Amsterdam Power Exchange, please contact Mrs Nanke Kramer, tel. +31 20 3054000, fax +31 20 3054001, e-mail n.kramer@apx.nl Automated Power Exchange, please contact Brad Richter, tel. 713/993-7830, fax 713/993-7850, e-mail brichter@apx.com |
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