IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the successful launch of BRIX, a Brazilian marketplace for electric power.
BRIX offers a transparent, electronically traded marketplace for key Brazilian power contracts, including a range of risk management tools for eligible power market participants. Bids, offers and trades are shown in real time on the BRIX screen for all participants.
BRIX launched on June 28 with 30 market participants including Agroenergia Comercializadora, Bunge, CESP, Clealco, Compass, Coteminas, EletroNorte, Eucatex, Ibrame Laminacao, MPX, Quanta, Rexam, Seal Energy and White Martins. In the first two days of operation, power contracts representing 40.3 MWh were traded.
Said Chuck Vice, ICE President: "We are pleased that we've hit the ground running with a successful launch of BRIX. This marks the first in a series of steps to increase transparency pricing in Brazil's power market. We believe BRIX will make an important contribution to the development of Brazil's market infrastructure and will benefit the Brazilian energy free market."
BRIX was established as a joint venture between ICE, Roberto Teixeira da Costa, economist, founder and first president of CVM, the Brazilian financial regulator; Eike Batista, CEO of EBX Holding which invests across industrial sectors including energy, infrastructure and mining; Josue Gomes da Silva, president of Coteminas, the largest textile group in the Americas; and Marcelo Parodi, founder and president of Compass Energia.
More information can be found at www.BRIX.com.br.