Atlas Commodity Markets and HoustonStreet Exchange Launch 'Atlas Insite' Hybrid Brokerage
Platform for Biofuels
HOUSTON--(BUSINESS WIRE)-- Atlas Commodity Markets (“Atlas Markets”), a leading voice broker in the biofuels markets, and HoustonStreet Exchange, Inc. (“HoustonStreet”), a leading electronic trading platform for OTC energy markets, announced today the launch of “Atlas Insite,” a hybrid voice and electronic biofuels brokerage platform. Using Atlas’ leading biofuels voice brokerage and HoustonStreet’s proven technology, Atlas Insite allows Atlas’ clients to transact using either the firm’s voice brokers or electronically through the platform while accessing the same liquidity pool.
Atlas Insite provides anonymity, faster execution, firm prices and straight-through trade processing.
The Atlas Insite system, which can be used with or without broker assistance, offers a suite of products for physical and financial biofuels and RINS markets. “We are pleased and excited to announce the launch of Atlas Insite,” said Mike Bridges, Partner of Atlas Markets. “By combining our leading voice brokerage capabilities with HoustonStreet’s proven technology, we will greatly enhance price discovery and trade execution capabilities for our clients.” “Combining our leading electronic platform with the strongest voice broker in the biofuels markets is a winning combination for Atlas’ customers,” said Frank Getman, President of HoustonStreet, the largest domestic electronic marketplace for physical crude oil and refined cash products. “There is tremendous value in offering the option of voice or electronic price discovery and execution. Combining the best in voice and electronic is a successful strategy for improving liquidity and transparency.”
In addition to physical ethanol, Insite also currently offers four CME ClearPort® cleared products - CBOT Ethanol Forward Month Swaps (71), CBOT Ethanol Futures (EH), Chicago Ethanol (Platts) Swaps (CU), and NY Harbor Ethanol (Platts) Swaps (EZ). All of these markets trade on Atlas Insite and instantaneously clear through CME ClearPort via an electronic link.
“CME Group is pleased to offer the safety and security of central party clearing services to these fast growing biofuels markets,” said Barry Goldblatt, CME Group Managing Director of Commodity, Energy and Metals Products and Services. “Our CME ClearPort business handles on average 600,000 transactions a day for over-the-counter markets and we are delighted to expand our industry-leading services to Atlas Insite platform customers.”
“We have witnessed the growth of clearing in the industry and believe there is great value to our customers in offering the CME ClearPort products on Atlas Insite,” added Mike Bridges, Partner of Atlas Markets.
About Atlas:
Atlas Commodity Markets, LLC is the commodity brokerage company which set the standard for providing liquidity and execution efficiency in the biofuels markets. Employing state of the art electronic technology and seasoned professional brokers, Atlas empowers its clients with the most efficient means of gathering information and executing trades. Atlas is a neutral intermediary, matching buyers and sellers at the best price. By leveraging its unbiased market position and exceptional market insight, Atlas enables its clients to transact on competitive terms while they focus on creating value for their businesses. Further information about Atlas Markets can be found at www.atlasmarkets.com.
About HoustonStreet:
HoustonStreet Exchange, Inc. is the largest electronic marketplace for physical crude oil and refined products in the United States. HoustonStreet also serves as a front end electronic trading platform for various CME ClearPort® petroleum products. Further information about HoustonStreet can be found at www.houstonstreet.com
About CME Group:
CME Group (www.cmegroup.com) is the world’s largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol “CME.”
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.
Contacts
Atlas Commodity Markets, LLC
Bob Shults, 713-574-4535
Bob.shults@atlasmarkets.com
Source: Atlas Commodity Markets, LLC
