Navitas Resources

News

World currency unit to be used for bunker trades (5/8/2010 1:48:41 PM)

A Singapore-based energy specialist behind the launch of a physical commodity exchange is ready to start using a new currency unit to price bunker trades.

Navitas Resources said it had “no doubt” that using the new unit would give its trading platform “a leading edge” over traders pricing bunker fuel in US dollars.

The World Currency Unit (Wocu) has been developed by the UK-based WDX Organisation.

WDX has issued a statement saying it was “delighted to announce the signing of an extended contract with Navitas Resources.”

“Having signed the initial agreement earlier this year, the two companies have now finalised the details of the licence and transaction fee structures to launch Wocu priced commodity trading,” it said.

The plan is to use the Wocu to price physical contracts on the Navitas' NR-X Physical Commodity trading and procurement platform (www.nr-x.com).

“As bunker oil drives the majority of sea-going trade, it is a commodity of primary importance,” said WDX.

It added that bunker fuel would be the first physical commodity in the world to be priced in Wocus.

“Trading bunker oil in Wocus rather than dollars is anticipated to allow companies to achieve maximum benefit from the Wocu's particular advantages, namely reduced exchange rate volatility and an effective partial hedging mechanism, reducing spot and forward inconsistencies in bunker oil pricing.”

One Wocu was priced at $1.67 on Wednesday.

Navitas to launch bunker and marine fuels trading platform (2/9/2010 7:19:13 AM)

http://www.risk.net/energy-risk/news/1591071/navitas-launch-bunker-marine-fuels-trading-platform

Navitas Resources joins WOCU Currency Market (1/21/2010 7:45:08 AM)

Navitas Resources has signed up as an early market participant (EMP) of the WDX Organisation World Currency Unit (WOCU). www.wocu.com

Navitas is working with WDX to offer WOCU denominated trading on its NR-X Procurement platform in the near future.

For more information contact us at info@navitasresources.com

NR-X Platform to go live in Q2 2010 - watch this space (1/3/2010 7:43:27 AM)

NR-X Platform to Go-Live in Q2 2010 an official press release will be sent out soon.

Navitas Resources announces strategic partnership with AFS London Ltd (11/10/2009 1:48:33 PM)

Further to the recent announcement by Navitas Resources Pte Ltd (NR) of the launch of its NR-X Physical Commodity Exchange Platform (4th November 2009), NR announces a strategic partnership with AFS London Ltd, part of the Dutch Finance House "AFS Group".

The purpose of this partnership is to utilize AFS’s ability and expertise in derivatives broking and its Regulatory Umbrella from the Financial Services Authority of the United Kingdom. This will further enhance the NR-X platform, enabling the potential for fully integrated hedging and derivatives trading and broking capabilities. Furthermore, AFS’s strategic locations in Lon don and Amsterdam offers ideal coverage for the key European commodity hubs, broadening the expansion potential of the NR-X platform (www.nr-x.com)

Francesca Zerenghi, Joint Chief Executive of Navitas Resources, said: "We are very excited to announce this strategic partnership with AFS London Ltd. They share our vision to create a commodity trading and procurement platform that will gradually launch a very unique set of services for the Physical and FInancial commodity markets. Our combined set of skill-sets, office locations, and resources, improve our ability to deliver this to an international client base." 

ABOUT AFS:
AFS Group is one of the larger independent securities brokers for professional counterparts in Europe, located in Amsterdam and London. AFS Brokers is part of the AFS Group. Within the group, this division is responsible for all equity (related) products and services for professional clients. It acts as a pan-European broker in equity, convertibles, derivatives, exotics and futures at global stock exchanges.

For enquiries please contact:
Fred Eates fred@afslondon.com
Rutger Jakobsen rutger@afslondon.com
Office: +44 207 173 4820
www.afsbrokers.nl

NR-X launched at APPEC 2009 & Bunkerworld Conference (11/6/2009 5:49:49 AM)

The physical procurement platform launched for Marine Fuels at the BunkerFuel Conference in Singapore.

NR-X Physical Fuel Platform Going LIVE

For more information please e-mail nrxenquiries@navitasresources.com. Thank y ...