Griffin implicit allocation system launches with strong support
The recent launch of Griffin’s electronic implicit allocation mechanism has been well received by the market accounting for more than 94% of the capacity allocation made through brokers in its first month of operation.
Griffin launched its new capacity matching system in partnership Interconnector (UK) Limited at the start of April offering the opportunity to apply for unbundled gas pipeline capacity between Bacton and Zeebrugge. The system allows IAA shippers to apply for capacity allocations in the pipeline using Griffin’s own online Portal.
Griffin OTF to remain in the UK for the time being unless a Hard Brexit
Given the continued political uncertainty, Griffin’s immediate intention is to continue to operate its OTF from the UK unless or until the UK leaves the EU under a hard (no deal) Brexit.
Provided Griffin can continue to provide its customers with the ability to trade under the C6 REMIT carve-out, it will carry on running its OTF from London until there is further clarity on the legal effects of Brexit.
Griffin to offer gas pipeline capacity allocation between UK and continental Europe in partnership with Interconnector (UK) Limited
Griffin is to start offering gas pipeline capacity between the UK and continental Europe as an Implicit Allocation Partner of Interconnector (UK) Limited from today.
Under this new arrangement, Griffin’s customers that are IAA shippers will be able to apply for capacity allocation in Interconnector’s Bacton-Zeebrugge pipeline using Griffin’s own online Portal system. It is a requirement of implicit allocation that each allocation of capacity is matched with an associated and equal volume of gas. Capacity allocated through Griffin’s Portal will be matched with physical gas trades executed through Griffin.
Announcement on opening of French OTF
Griffin aims to make a decision on when and if it will begin operating through its French OTF early in the week commencing 25th March at the latest.
The continuing political uncertainty surrounding the UK’s departure from the EU has so far created significant problems with planning but if the status of Brexit remains unclear by the above date, a firm decision will need to be taken.
From technical, operational and regulatory perspectives, Griffin is ready to open its French OTF at short notice and is in a position to begin operating in Paris on 1st April if required.
Status of physical NBP, UK power and Swiss power contracts after a no deal Brexit addressed in ESMA statement
ESMA has issued a statement which seeks to clarify that, in the event of a no deal Brexit, NBP, UK power and Swiss power forward contracts will continue to benefit from the C6 REMIT carve-out when traded through an EU OTF provided there is an active spot market for those products located in the EU.
Griffin’s French OTF approved and authorised by AMF and ACPR
Griffin’s French OTF is now listed on ESMA’s official register following completion of the authorisation process by the French regulators, the AMF and the ACPR.
The entry on ESMA’s website shows that the OTF, operated by Griffin Markets Europe SAS with a MIC Code of GMEO, became active on 4th March 2019.
The date on which the OTF will become operational has not yet been determined and …..
Griffin listed in “Financial Times 1000: Europe’s Fastest Growing Companies” report for second year running
- Griffin recognised in FT 1000 Europe’s fastest Growing Companies report 2019
- Report identifies and ranks Europe’s fastest growing companies, based on compound annual revenue growth between 2014 and 2017
- Griffin has seen strong growth based upon its continuing innovation and excellence in execution
Griffin has again been identified as one of Europe’s fastest growing companies based upon compound annual growth rate in revenue between the years 2014 and 2017.
Brexit update: Griffin completes authorisation process with AMF and ACPR in France
PARIS 15th February 2019
Griffin has successfully completed its authorisation process with the French regulators, the AMF and ACPR, to enable it to operate an OTF in France following Brexit.
The establishment of an OTF in the European Union will ensure that participants in the European energy markets will continue to be able to take advantage of the C6 REMIT carveout which keeps physical gas and power outside financial regulation when traded through an OTF.
Brexit update: Griffin to launch EU OTF
PARIS 26th November 2018
Griffin is planning to run an OTF out of Paris after the UK has left the European Union to ensure that energy participants can continue to enjoy Griffin’s service from within the EU27 and benefit from the C(6) REMIT carve out that prevents physical gas and power contracts from being classified as financial instruments.
Energy Risk Commodity broker of the year 2018
May 16th 2018
Griffin Markets has been announced as the winner of Energy Risk’s Commodity Broker of the Year 2018.
1000 Companies to Inspire Britain 2018
May 16th 2018
Griffin has been identified as one of London Stock Exchange Group’s 1000 Companies to Inspire Britain in its 2018 report.
FT 1000 Europe’s Fastest Growing Companies
April 30th 2018
Griffin has been identified as one of the “FT 1000 Europe’s Fastest Growing Companies 2018” and is ranked at #224 overall.
In the Financial Services sector the FT has ranked Griffin at #7.