* CLTX to start API2 and API4 derivatives
* CLTX was bought by Germany's EEX in Dec 2013
* Both bourses also eye LNG products, but no date set
LONDON, Jan 23 Singapore-based Cleartrade
Exchange (CLTX) plans to launch coal futures in the first
quarter of this year, expanding the reach of new owner European
Energy Exchange (EEX), CLTX's chief executive said on Thursday.
Germany-based EEX, which offers European power, natural gas,
coal and emissions trading products, bought a 52 percent stake
in CLTX, which focuses on shipping products, in December last
"We will launch API2 (European) and API4 (South African)
coal futures products pretty imminently. It should be this
quarter," said CLTX's CEO Richard Baker during a joint press
briefing with EEX in London.
EEX's chief executive Peter Reitz said the new products were
part of a drive to offer customers a full range of products on
"If you operate a coal-fired power station, you have to buy
the coal and charter freight. You also have to buy emissions
certificates, and then sell the electricity. You can now do all
this on our platforms," Reitz said.
Leipzig-based EEX is majority-owned by Deutsche Boerse Group
, Germany's biggest exchange operator.
Deutsche Boerse has said that it wants to expand in Asia,
and Reitz said the acquisition of CLTX was part of that drive.
EEX and CLTX both said that liquefied natural gas (LNG)
products were also of interest although no clear dates for
introduction were set yet.
"New (emissions) regulation in the shipping sector are
prompting changes towards using LNG as a fuel. We also need to
take into account that there is a shale gas revolution going
on," Baker said.
New shipping regulation is aimed at pushing the sector from
using fueloil towards more LNG as a shipping fuel, which is
cleaner than oil, and a shale gas production boom is expected by
many analysts to bring down global natural gas prices.
Despite these developments, Baker said "the strategic
changes in the shipping sector (from oil to gas) are still a way
EEX's Reitz said that LNG transported globally to supply
utilities with gas for power generation was also a potential
product his exchange could introduce for trading.
"LNG is clearly an option as it is a global product and
Singapore is very well placed, but there is no launch date yet,"
Around 70 percent of global LNG trading is based in Asia,
with Japan and South Korea, and increasingly also China and
India, acting as the main buyers, and Qatar and increasingly
Australia being the main suppliers.
(Reporting by Henning Gloystein; Editing by Mark Potter)