SYDNEY, Australia, July 14 /PRNewswire/ -- Sydney based Financial & Energy
Exchange (FEX) is the latest exchange to choose Argus Media's price indices to
settle traded and over-the-counter coal contracts(1).
Open positions in FEX coal contracts will be settled in reference to the
Argus Newcastle index, which is based on the price of coal loading at the
Australian port. The Argus fob Newcastle price is published in Argus Coal
Daily International, which provides benchmark assessments for the
international coal trading community.
"We are delighted to partner Argus in developing our coal derivative
contracts," FEX chief executive Brian Price said. "Coal markets demand product
specifications of the highest integrity. Universally, the industry and markets
recognise Argus as a premium supplier of reliable, accurate and independent
assessments with the highest standard of tested methodology."
Argus Media chief executive Adrian Binks added: "We are very pleased with
this vote of confidence from the FEX. Any exchange launching new contracts
requires the highest quality settlement procedures and we are glad that FEX
has chosen to use Argus prices. We wish them the best of luck with the new
contracts."
Australian coal producers are enjoying record price levels of more than
US$190/t this year at Newcastle, as they feed growing demand in China and
India. Argus also produces successful benchmarks for other Asian coal markets,
such as Indonesia, which are used in contracts and as a price reference for
electricity generators.
About Argus
Argus Media is a leading provider of price assessments, business
intelligence and market data on the global oil, gas, electricity, coal,
emissions and transportation industries. It is headquartered in London, with
offices in Astana, Kiev, Houston, New York, Washington, Los Angeles, Dubai,
Singapore, Tokyo, Beijing, Moscow and other key centres of the energy
industry. Founded in 1970, it is a privately held UK-registered company.
http://www.argusmediagroup.com
About FEX
The Financial & Energy Exchange (FEX) is an international market services
provider. Based in Sydney, but focused on Asia, FEX provides responsive and
flexible exchange and over-the-counter platforms and infrastructure for
energy, commodity, environmental and financial products. http://www.fex.com.au
For further information contact
Jason Feer, general manager Asian Pacific, Argus Media, Singapore
Email: Jason.feer@argusmediagroup.com
Tel: +65 6496 9966
Dimitri Burshtein, group executive - corporate development
Financial & Energy Exchange Limited, Australia
Email: d.burshtein@fex.com.au
Tel: 61 2 9251 4565
(1) Subject to regulatory approval.
SOURCE Argus Media
Jason Feer, general manager Asian Pacific, Singapore of Argus Media, +65 6496
9966, Jason.feer@argusmediagroup.com; or Dimitri Burshtein, group executive -
corporate development of Financial & Energy Exchange Limited, Australia, 61 2
9251 4565, d.burshtein@fex.com.au
