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The Clearing Corporation and
the Financial And Energy Exchange (Australia)
Announce Clearing Services Agreement
Chicago & Sydney,
November 13, 2007 –
The Clearing Corporation (TCC), the world's only independent
derivatives clearinghouse, and the new Financial and Energy Exchange (FEX) for Asian-based derivative
products located in Sydney Australia, today announced that they have entered into an agreement for TCC
to provide clearing and settlement services for derivatives products traded on FEX.
FEX, which is scheduled to launch its derivatives market in 2008, will offer derivative instruments
to global investors and traders on a variety of energy, environmental and financial products. This
follows the September 2007 launch of FEX's Sustainability Investment Market (SIM), a specialized
equities market for CleanTech and Sustainable businesses, which was attended by former US Vice
President Al Gore.
Michael C. Dawley, Chairman of TCC, said "The Clearing Corporation is pleased to join with FEX
and to expand TCC's clearing presence to the Australian and Asian markets. We look forward
to providing our extensive suite of clearing services for FEX's innovative exchange."
Brian Price, founder and Executive Director of FEX, said FEX chose The Clearing Corporation
as its strategic partner because of its independence and global expertise in derivatives clearing.
"The Clearing Corporation has more than 80 years experience in clearing many of the most
important commodity and financial derivatives in the world," Price said. "In choosing
our clearinghouse, we needed a clearing services provider with global credibility and
competence and we are glad we have found it in The Clearing Corporation."
Brett Paulson, President and Chief Operating Officer of TCC, said work has already begun
on the development and implementation of the clearing and settlement platform for FEX.
"We are delighted to be associated with FEX's initiatives to expand global market opportunities,
and fully support their strategy to provide a single platform for trading energy, environmental
and financial instruments."
About The Clearing Corporation
The Clearing Corporation provides clearing services for global exchange and over-the-counter
(OTC) traded derivatives. As the only independent derivatives clearinghouse in the world,
The Clearing Corporation is in a unique position to provide more innovative and customer-focused
OTC and exchange-traded derivatives clearing services in bringing markets together. The Clearing
Corporation is a stockholder-owned, Delaware corporation, now in its 83rd year of business and
serves numerous clients in a variety of markets. Additional information on The Clearing
Corporation is available at
www.clearingcorp.com.
About the Financial and Energy Exchange
The Financial and Energy Exchange (FEX) operates equities, derivatives and over
the counter (OTC) markets for energy, environmental and financial products in
the Asia region.
Contacts
The Clearing Corporation
Andy Merrill or Tripp Kyle
Finsbury Group
+1-212-303-7600
ccorp@finsbury.com
Financial and Energy Exchange
Dimitri Burshtein
Financial and Energy Exchange
+ 61 2-9251-4565
d.burshtein@fex.com.au
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