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 markets. Since beginning operations in February 1994, NGX has developed the AB-NIT ("AECO") hub into one of the most liquid spot and forward energy markets in North America. In 2008, NGX and Intercontinental Exchange (ICE) launched an operational alliance where by NGX uses ICE's front end trading technology and provides clearing services for ICE's US physical gas products. NGX is wholly owned by TMX Group Inc. which collectively manages all aspects of Canada's senior and junior equity markets.

 QUICK FACTS
Ownership 100% TMX Group Inc.( www.tmx.com )
Contracting Parties (CPs) More than 200 CPs in Canada and the US
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 Cleared market data and price index generation.
Contracts Listed - Over 100 physical spot and forward natural gas contracts deliverable in Canada and the US.
- Over 50 financial natural gas swaps and options.
- Over 15 electricity swaps.
- Over 30 physical and financial location spreads.
Volumes Traded 2008 average per month: Over 1200 Petajoules energy equivalent of natural gas and electricity
Value Proposition
Transaction Technology NGX products and clearing services are available through ICE's WebICE trading platform
Liquidity NGX's physical contract volumes represent three to four times underlying Canadian production.
Clearing and Settlement NGX clears and settles exchange traded and OTC contracts with a notional value of over $300 billion.
Credit/Collateral Optimization CPs are able to optimize available collateral by netting positions centrally and maximizing offsets.
Price Indices NGX generates price indices from fixed price contracts traded in NGX markets. These are available in realtime and are widely used by the industry to settle both NGX traded and OTC contracts.

Offices:
Natural Gas Exchange Inc. Natural Gas Exchange Inc. - U.S. Branch
Suite 2330 Suite 270
140-4th Avenue SW 19500 State Highway 249
Calgary, Alberta Houston, Texas
Canada    T2P 3N3 U.S.A.    77070
Phone: 403.974.1700 Phone: 281.720.0525
Fax: 403.974.1719 Fax: 281.720.0530
Other Contact Information
© 2008 Natural Gas Exchange Inc. and/or TMX Inc.
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