Enel Trade SpA, a unit of Italy’s biggest power company, bought an internal energy trading system from GFI Group Inc. (GFIG)’s Trayport, the London-based technology company said in an e-mailed statement.
Enel will use Trayport’s Internal Marketplace system to trade between its group companies before entering the wholesale markets. The internal buying and selling will reduce operative risks and costs, maximize netting opportunities and simplify traders’ execution, Leonardo Zannella, head of trading at Enel Trade, said in the statement.
GFI, the New York-based inter-dealer broker of derivatives and securities, bought Trayport in February 2008.
Brokers including ICAP Plc, GFI Group Inc., Tullet Prebon Plc, Spectron Group Ltd. and Tradition Financial Services compete for over-the-counter trades.
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