Amerex Brokers LLC said May 9 that it has hired Jim Moore to launch a U.S. coal trading desk that will broker U.S. centrally-cleared coal swaps using Trayport-powered hybrid trading technology in addition to physical and financial over-the-counter trades.
The addition of the coal desk will further strengthen Amerex’s already strong presence in energy with existing desks in power, natural gas and environmental commodities, the company noted. The coal team is already participating in the market, booking the first two trades earlier in the week.
“Amerex is focused on bringing liquidity and new counterparties to the business and we will work with coal producers, coal consumers and trading entities to utilize physical and financial products to hedge coal positions,” said Moore. “We aim to make our markets available via Trayport and work to add value to the trading experience through our hybrid brokerage model.”
Clay Davis, President of Amerex Brokers, said: “We are excited to have Jim Moore join the Amerex team. His experience, energy and enthusiasm will be a great asset to Amerex and its customers as we expand into the coal market.”
Jim Moore has 28 years of experience in the energy industry and comes to Amerex from Missouri-based utility company Ameren Corp. (NYSE: AEE) where he worked for 26 years. While at Ameren, Moore had a significant impact on the bottom line by implementing innovative hedging methods to reduce coal procurement costs, Amerex noted. His experience includes coal, power, heating oil, emissions, renewable energy credits and natural gas.