Andy

The UK gas traders are keen to join EnEX, which is a new online trading platform operated by EnMo.

Brief details are as follows:

	EnMo is a joint venture between National Grid Company PLC and AltraEnergy Technologies Inc

	EnEx's products are limited to 7-day ahead NBP gas contracts (these are physically-settled UK gas deals).

?	Subscription fees are payable by users as well as general transaction charges.

?	Access is restricted to UK Gas Shippers (this comprises a small number of licenced entities).  There also certain pre-set credit requirements.

?	Each user can post orders, withdraw orders posted that have not been accepted by other users, and accept orders posted by other users. Other functionality includes the right to post time-limited orders.  The system can stipulate maximum and minimum bid and offer prices.  The identity of the user posting an order is anonymous.  All orders are matched by the system. 

Look forward to your comments.

Thanks

Justin