London, July 30, 2003
- A ground breaking initiative has been announced today that
will see the launch of an energy brokers’ association,
designed to enhance the UK oil, power and natural gas markets
by addressing current and future energy market issues.
The London Energy Brokers’ Association
(“LEBA”) has been formed by nine brokers operating
in the OTC energy markets (see list below). LEBA is affiliated
to the Wholesale Markets Brokers’ Association –
the Association representing the wholesale markets brokers
in the UK – and will provide a forum for the discussion
of regulatory and market issues facing broking participants
within the energy industry. The new Association, whose members
are regulated by the Financial Services Authority, also recognises
the need both to establish clearly defined working practices
within energy broking and to work with the regulators, other
associations, market participants and financial institutions
for the long-term benefit of the industry.
LEBA Chairman, Michael Beales, said: “The
current energy environment is extremely challenging for all
market participants and this new Association is the ideal
vehicle to bring about initiatives that will boost energy
market visibility and liquidity”.
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