North American Natgas Firms Form Joint Venture for Operational Efficiencies in Post-trade Processes

The new platform will result in increased transparency, fewer data errors, less manual reconciliation and will minimize delays in transaction settlements.

Hart Energy Staff

A group of leading companies that market and trade natural gas in North America including Shell Energy North America and bp have announced the formation of an independent company named Eleox. The initial participants in this joint venture—the first of its kind in North America—also include Castleton Commodities International LLC (CCI), Koch Energy, Macquarie Group and Mercuria Energy America.

Eleox will re-imagine commodity post-trade processing through the creation of an enterprise-grade application based on distributed ledger technology to replace many existing, siloed post-trade systems with a unified, full lifecycle platform, the companies said Nov. 15.

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