360T Expands into Energy Products

360T has expanded its product suite to enable the trading of energy products across its platform. The firm says Lufthansa was the first client to execute a trade – an option strategy on ICE Brent Crude Oil.

In addition to supporting energy options, 360T has also launched the capability for market participants to trade Asian and Bullet swaps. The Asian Swaps can be “roller-coastered” so that a different notional amount can be traded for each leg of the trade, offering maximum flexibility. The energy options allow firms to build and execute everything from simple calls and puts to more complex, multi-leg strategies, the firm adds.

Following this launch, users of 360T’s TEX platform now have access to pricing on crudes, including WTI, ICE Brent, Dated and Dubai Brent, in addition to Fuels and Distillates.

“The launch of Energy Products on 360T will deliver significant benefits to market participants and is yet another example of our continued commitment to innovation,” says Sebastian Hofmann-Werther, head of EMEA at 360T. “We are now able to offer all the advantages of electronic execution – including increased efficiency and transparency – via a robust, proven technology platform. We are delighted to have partnered with Lufthansa for this first trade and are already seeing growing interest in our new suite of Energy Products from across the industry.”

Andy Böhme, head of corporate financial risk management and emissions trading at Lufthansa Group, adds,“This launch provides Lufthansa with a unique opportunity to further enhance our day-to-day trading operations. 360T is helping us to eliminate time-consuming manual processes around the execution of energy products, achieve better price discovery and transparency when trading and reduce operational risks by minimising the potential opportunities for human error – and all of this is delivered via full, end-to-end, system integration. We believe that this is what the future of Energy trading looks like.”