Parameta Solutions, General Index launch new LNG pricing service
Parameta Solutions, a provider of OTC market and transactional data, and General Index (GX), the world’s first technology-driven benchmark provider, are pleased to announce the launch of a new liquified natural gas (LNG) pricing service that will offer robust and transparent daily benchmarks to better enable trading between major LNG hubs.
Powered by data from TP ICAP’s leading Energy & Commodities desks, Parameta Solutions’ waterfall methodology is implemented using GX’s leading benchmark technology. The Parameta Solutions Global LNG Basis Indices will offer an alternative tech-led approach to traditional journalistic price assessments.
With GX acting as the independent regulated benchmark administrator, the indices will be available for use for price discovery purposes, as the underlying reference rate in financial contracts and in the clearing and settlement process.
Ovie Koloko, Chief Product Officer, Parameta Solutions:
“As the world continues along the path to net zero, LNG has emerged as the key balancing fuel that market participants are using to accelerate their progression. The market for this product has expanded, with volumes increasing as a result of geopolitical pressures on supply chains. As a result, what was once a niche, localised market is now a truly global one. Therefore, this collaboration to create a suite of benchmarking tools is necessary to help participants manage their risk more effectively.”
Neil Bradford, CEO, General Index:
“There is a natural fit between an OTC trade data provider and an independent benchmark provider. This innovative partnership brings new transparency and choice to the LNG market, and we believe it will be the first of many collaborations between our firms.”