NGX seeks increased credit security

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Natural Gas Exchange (NGX), the Calgary, Alberta-based electronic market-place, says it is to become a fully collateralised clearing house. The reasons for the move – which will be effective from July 1, 2002 – are partly down to what the exchange describes as “events last year that caused concern”.

As a result, the Canadian exchange is taking a tougher line on credit, and will require all parties to post collateral in the form of a cash margin or a letter of credit from an approved

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