Shoosmiths advises on sale of majority shareholding in Cleartrade Exchange

Shoosmiths has advised Singapore-based Freight Investor Services on the strategic sale of a majority shareholding in Cleartrade Exchange (CLTX) to European Energy Exchange (EEX), a leading energy exchange in Europe and part of the Deutsche Börse Group.

Partner Ben Turner and associate Gareth Davies led the law firm’s transaction team.

CLTX is a regulated futures market, providing an electronic global marketplace for commodity futures and OTC cleared derivatives. It is regulated by the Monetary Authority of Singapore (MAS) and provides traders, brokers and hedge funds with an electronic order book and block trade facility, trade processing, reporting and straight-through processing to multiple clearing houses.

EEX develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances, coal and guarantees of origin are traded. Clearing and settlement of all trading transactions are provided by the clearing house European Commodity Clearing.

  • Print

Briefings from Shoosmiths

View more briefings from Shoosmiths

Analysis from The Lawyer

  • Hester: declined bonus worth almost £1m

    Pay checks

    Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future

  • high street 150

    Focus: Alternative business structures - Law and new order

    There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…

Overview

2 Colmore Square
38 Colmore Circus Queensway
Birmingham
B4 6BJ
UK
http://www.shoosmiths.co.uk

Turnover (£m): 87.00
No. of Lawyers: 373