OVERVIEW

Natural Gas Exchange Inc. (NGX), headquartered in Calgary, Alberta, Canada, provides electronic trading, central counterparty clearing and data services to the North American natural gas and electricity industries. Since beginning operations in February 1994, NGX has developed the AECO/NGX Intra-Alberta Market into one of the most liquid spot and forward energy markets in North America. NGX is wholly owned by TSX Group Inc. which collectively manages all aspects of Canada's senior and junior equity markets.

 QUICK FACTS
Ownership 100% TSX Group ( www.tsx.com )
Number of Counterparties More than 150 counterparties in Canada and the US
Number of Traders More than 500 daily
Launch Date February 10, 1994
Key Strengths
Exchange Services Electronic price discovery and trading.
Clearing and Settlement Central counterparty risk mitigation including guaranteed settlement/delivery.
Data Real time and historical market data and, price index generation.
Contracts Listed - Over 60 physical spot and forward natural gas contracts deliverable at 30 hubs in Canada and the US.
- Over 80 financial natural gas swaps and options.
- Over 20 electricity swaps.
- Over 10 physical gas transport (location) spreads.
Volumes Traded 2006 average per month: 717 Bcf
Value Proposition
Transaction Technology NGX trading system has completed almost 50,000 Tcf of transactions since inception, system reliability is in excess of 99.9%. Over 400 traders and risk managers, in Calgary, Houston, New York and elsewhere in North America, use the system daily for price discovery, trading and real time reporting.
Liquidity Daily NGX traded physical contract volumes now represent two to three times underlying Canadian production. Our most liquid market, the Intra-Alberta Spot Market represents more than 80% of all Alberta spot market trades.
Clearing and Settlement NGX has cleared and settled exchange traded and OTC contracts with a notional value of over $300 billion.
Credit/Collateral Optimization Counterparties are able to optimize available collateral by netting positions centrally and maximizing offsets.
Price Indices NGX generates price indices from fixed price contracts traded on NGX's Trading System. Those price indices are available in real-time and are widely used by the industry to settle both NGX traded and OTC contracts.

Offices:
Calgary
Suite 2330
140-4th Ave SW
Calgary, Alberta
Canada, T2P 3N3
Phone: (403) 974-1700
Fax: (403) 974-1719
Other Contact Information
© 2004 Natural Gas Exchange Inc. and/or TSX Inc.
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