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Tradition Starts Dealing Over-the-Counter Italian Power Options

Sept. 11 (Bloomberg) -- Tradition Financial Services concluded its first over-the-counter Italian power option transaction.

The deal was for a 1.75 euro-a-megawatt-hour call option on the 2013 power contract for 50 megawatts at 72.10 euros ($92.71) a megawatt-hour, the brokerage said today in an e-mailed statement. The option expires on Dec. 20, Tradition Financial said. Call options give the buyer the right to purchase at a certain price.

To contact the reporter on this story: Rachel Morison in London at rmorison@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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