Electricity trading exchange BRIX has started Brazil electric-energy trading with 30 participants, The Wall Street Journal reports. The BRIX, set up by Brazilian billionaire Eike Batista and IntercontinentalExchange (ICE) in April, aims to triple trading of contracts in Brazil’s free energy market over the next three to five years to about $48.4 billion.
The exchange also secured financing from other investors, including Roberto Teixeira da Costa, a partner at the Prospectiva consulting firm, and Josue Gomes da Silva, CEO of textile company Coteminas. Active trading on the exchange is expected to be followed by the publication of an index tracking spot markets.
Click here for the story from The Wall Street Journal.