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Spectron Bought by Imarex
14th February 2008 – Spectron Group has been bought by Imarex, the leading freight derivatives broker and owner of NOS, the Norwegian clearing house.
The merger means Spectron will be part of a much bigger group – giving it the scale, capital and resource to improve and expand its services globally, which should provide major benefits for clients.
The merger will not affect Spectron’s day-to-day operations; Spectron will still operate as Spectron from all of its current offices and there will be no job redundancies.
“We have spent 20 years building a global brand in energy and are now delighted to be joining forces with IMAREX – they are ideal partners as they share our strategic vision and passionate commitment to customer service,” said Spectron Group’s Chief Executive Officer, Andrew Stephens.
For all press enquiries, please contact Richard Frape:+44 207 074 2008 richard.frape@spectrongroup.com""
Broker of the Year 2007
Spectron has been voted "Broker of the Year" in the Energy Business Awards 2007.
For all press enquiries please contact: richard.frape@spectrongroup.com +44 20 7074 2008""
Spectron named Broker of the Year 2006
Spectron Group, the global energy broker, has been named Broker of the Year by Point Carbon, the leading news service and analysis provider for emissions in Europe.
James Blunt, head of Spectron’s emissions desk, accepted the award – which is voted for by traders – in Copenhagen at Carbon Markets Insights, Europe’s largest CO2 and emissions conference, organised by Point Carbon.
“We are delighted to receive this award, particularly as it is decided by the trading community,” said James Blunt. “We have always aimed to offer our clients the very highest levels of service, and I would like to think that at least a small part of this award is in recognition of that. I hope we can continue to build on our reputation and offering over the coming year and would like to thank everyone who voted for us.”
For all press enquiries, please contact:
Richard Frape
Director of Market Services
Spectron Group
+44 (0) 20 7074 2008
Richard.Frape@spectrongroup.com ""
Spectron and RWE in new Back Office breakthrough
Release Date: 20/01/05 Spectron and RWE Trading have become the first to implement a key stage in electronic deal confirmation matching which is set to revolutionise Back Office operations at energy trading and broking companies.
The electronic confirmation matching (eCM) system, built by Ponton Consulting GmbH and sublicensed to stakeholders in the European energy sector by EFETnet, will significantly reduce the time spent on matching and confirming trades, improve the accuracy of these processes and slash associated costs.
This week Spectron and RWE Trading have gone live with fully automated broker-to-trader electronic confirmation matching for European Power contracts, and expect to extend it to cover UK Power and Gas markets shortly. This is the first time this specific eCM protocol has been put into practice and is a major milestone in the industry-wide acceptance and standardisation of eCM procedures.
RWE Trading was also the first company to implement EFET’s eCM Standard 3.0 compatible
trader-to-trader electronic counterparty matching – with Electrabel – last year.
Along with twelve other counterparties, Spectron and RWE Trading are fully signed up and committed to EFETnet B.V., the EFET-owned company that assures the quality of standard compliant eCM software on a non-profit, cost-sharing basis to the whole industry.
The widespread acceptance of the eCM standard could make the use of fax machines, for confirmations, a thing of the past.
RWE Trading believes that eCM will reduce trading costs by cutting administration overheads and, more importantly, reduce the risk of trade errors. “This new process is fast, secure and drastically reduces our manual effort with the real benefit coming from the reduction of operational risk,” said Malte Moeller, Back Office Manager at RWE Trading, Essen.
Spectron sees this as an essential service for the energy industry and a fundamental part of its innovative brokerage service. Simon Davidson, Chief Technology Officer at Spectron, believes that, “as a niche energy broker Spectron must continually strive to improve not only our processes and controls but also assist our clients in changing the way the industry does business. EFET, and EFETnet B.V., is a great example of where Spectron is able to make a real contribution to the marketplace.”
Hugh Brunswick, MD at EFETnet B.V. said: "Spectron are leading the way for all brokers in getting on line with the trading community to exchange electronic documents and automate standard processes like confirmation matching. This is another step in EFETnet's mission to bring the benefits of standardised data exchange to all stakeholders in the energy industry."
Spectron first broker to receive EFET eCM certificate
Spectron has become the first broker to receive the EFETnet certificate of conformity for electronic confirmation matching (eCM). The certificate follows rigorous testing of Spectron’s back office interface with the EFETnet eCM system by consultants KEMA.
This officially ratifies the internal eCM processes at Spectron, which remains the only broker to offer fully automated broker-to-trader confirmation and matching of energy trades via EFETnet – a service which slashes the time spent on processing trades, significantly improves accuracy and reduces trading costs.
Spectron has offered the eCM facility since the start of last year, firstly on European Power, and subsequently expanding this to cover UK Power and Gas, European Gas and Emissions. Last month Profile trades, which can be particularly time-consuming and difficult to match, were also added.
For further information, please contact:
Simon Davidson, Spectron’s Chief Technology Officer: +44 20 7074 2036
For all press enquiries please contact: richard.frape@spectrongroup.com +44 20 7074 2008
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