ChemConnect Acquires Natural Gas Liquids Trading Platform From Altra Energy.Business Editors HOUSTON--(BUSINESS WIRE)--March 25, 2002 Strategic Consolidation of Buying and Selling Opportunities in Wholesale Chemical Feedstocks Immediately Increases Liquidity ChemConnect Inc., which operates the leading online marketplace for chemicals and plastics, today announced it has acquired the natural gas liquids (NGL NGL - A dialect of IGL. ) trading platform of Altra Energy Technologies, Inc. The strategic consolidation, which offers ChemConnect Members immediate increased liquidity in natural gas liquids (NGLs), also provides greater access to comprehensive and reliable market information and further enhances opportunities for incorporating risk management tools in daily business processes. Altra's customers will benefit from having access to the full range of chemicals and plastics buying and selling opportunities that ChemConnect provides. "Natural gas liquids are the basic building blocks in our industry. As with other commodities, their cost and availability impact the entire supply chain," said John Robinson Several notable individuals have been named John Robinson: Politicians
NGLs, which include ethane ethane (ĕth`ān), CH3CH3, gaseous hydrocarbon. It is a continuous-chain alkane. As a constituent of natural gas, it is used for fuel. It can be prepared by cracking and fractional distillation of petroleum. , propane propane, CH3CH2CH3, colorless, gaseous alkane. It is readily liquefied by compression and cooling. It melts at −189.9°C; and boils at −42.2°C;. , butanes, and natural gasoline A natural gas liquid with a vapor pressure intermediate between natural gas condensate and liquefied petroleum gas and has a boiling point within the range of gasoline. This hydrocarbon mixture is liquid at ambient pressure and temperature. , are used as feedstocks for refineries and petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. plants. ChemConnect Members conduct NGL spot and over-the-counter forwards trades through ChemConnect today. Now, ChemConnect's NGLs will be supplemented by more than 2,700 monthly Altra Chalkboard transactions. Besides the expanded market for buying and selling opportunities, the acquisition will also foster a deeper and wider view of market conditions in the global chemical market. As trading liquidity increases, access to reliable information on prices and supply and demand trends also grows, providing ChemConnect Members with strategic information that can help them make better buying and selling decisions on a daily basis. By the same token, over-the-counter forward trading opportunities will be enhanced for both ChemConnect and Altra's Chalkboard customers. Buyers and sellers of NGLs have long been active in paper trading Paper trading (sometimes also called "virtual trading") is a simulated trading process in which would-be investors can 'practice' investing without committing real money. . Now they will have the further advantage of being able to use ChemConnect's Commodity Exchange to engage in forward transactions and manage risk across the full spectrum of the chemical value chain at the same time, and from the same desktops, from which they are conducting their spot physical trades. About ChemConnect ChemConnect has established itself as the world's leading online marketplace for buyers and sellers of chemicals and plastics. The company is committed to significantly improving transaction processes for buyers and sellers in multiple industries around the globe. Using innovative ChemConnect solutions, more than 7,500 Member companies from 135 countries can access reliable market information, lower transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , and reduce process inefficiencies, enabling them to better compete in the worldwide market. Visit www.chemconnect.com for more information. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion