November 4, 2008
Argus and McCloskey Acquire API 2 and API 4 Trademark
LONDON, Nov. 4 /PRNewswire/ -- TFS, part of the Tradition group of companies, has agreed to sell the trademark for the world renowned API coal Indices to Argus Media and The McCloskey Group, the publishers* that provide the data for the Indices' construction. The Indices, formerly known as the TFS API Indices, are used to price over 95% of the world's traded coal derivatives and up to half of all physical coal contracts for the Atlantic Basin. There are no changes as to how the API 2 and API 4 Indices are produced (which are sold by Argus on behalf of the publishers*), nor as to when those Indices are published or delivered.
*Barlow Jonker also contributes to the production of the API 4 Indices.
Argus Media is a leading provider of price assessments, business intelligence and market data on the global coal, electricity, oil, gas, emissions and transportation industries. It is headquartered in London, and has offices in Houston, New York, Washington, Los Angeles, Dubai, Singapore, Tokyo, Beijing, Moscow, Kazakhstan and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company. Learn more at http://www.argusmediagroup.com/
The McCloskey Group, now part of Cambridge Energy Research Associates (CERA), an IHS Company, is a leading source of news and analysis on the international coal industry. Produced by a team of industry experts, the McCloskey news and forecasting services are widely considered to be the most accurate and reliable in the business. Known for providing valuable market information and insights, the group's suite of publications, including the McCloskey Coal Report, is recognized globally for accurate and reliable price reporting. Every day, many of the major deals in the international market are executed using McCloskey prices as a reference. The group also hosts a number of highly regarded coal conferences throughout the world, and the consultancy practice continues to advise many of the world's leading producers and consumers on a wide range of issues. For more information, visit http://www.mccloskeycoal.com/
Tradition is one of the world's largest interdealer brokers in over-the-counter financial and commodity related products. Represented in 26 countries, with approximately 3,000 institutional clients, Tradition employs 2,250 people globally, 680 of whom are based in London. Tradition is owned by Compagnie Financiere Tradition (CFT) and listed on the Swiss stock exchange. For more information visit http://www.tradition.com/
For further information please contact: Seana Lanigan, +44 20 7780 4200, or by email [email protected]
CONTACT: Seana Lanigan of Argus Media, +44 20 7780 4200,[email protected]
Web site: http://www.argusmediagroup.com/http://www.mccloskeycoal.com/http://www.tradition.com/