Evolution Markets expands into U.S. power market brokerage

Thu May 1, 2014 3:05pm EDT

May 1 (Reuters) - Evolution Markets, a commodities and energy broker, this week launched a U.S. power markets desk.

The power desk will work out of newly established offices in New York and Houston, the company said in a statement.

The company said its power desk will facilitate futures trades on U.S.-regulated exchanges, like those run by the IntercontinentalExchange, the CME Group Inc's New York Mercantile Exchange, and the Nodal Exchange.

In addition, Evolution Markets said the desk will be able to broker power options and arrange transactions for physically settled forward power contracts in the over-the-counter market.

The power desk is led by William Thompson, who comes to Evolution Markets after more than 15 years as a power broker at GFI Group and Tullett Prebon.

Evolution Markets, based in White Plains, New York, is already involved in markets associated with power like natural gas, coal, uranium, weather derivatives, and environmental commodities such as carbon, renewable energy, and emissions. (Reporting by Scott DiSavino)

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