Cavendish Markets B.V.

Cavendish Markets B.V. is a Netherlands-based energy brokerage that positions itself as part of the negotiation chain for structured gas products within the European gas arena. According to its own materials, the firm was founded by experienced industry professionals and focuses on the development of niche products across the wholesale gas markets of North West Europe. Its stated goal is to provide a bespoke intermediary service for complex commodity derivatives, designed to accommodate the needs of portfolio managers across the industry. The company's core activity is negotiation services for structured products in the wholesale European energy market. Its product set spans physical gas products such as fixed-price and indexed swing contracts, swing spreads, virtual transport and virtual storage, OTC calendar spread options, temperature regression products, beach entry products, and transmission and storage capacity rights. It also offers clients access to prices and markets on complex derivative products including indexed and fixed price swings, physical pipeline capacity, virtual transport and storage. A distinctive part of Cavendish Markets' business is its role as an Implicit Allocation partner for the BBL and IUK interconnector gas pipelines. In this capacity it has the right to facilitate the allocation of gas transmission capacity for these pipelines in accordance with the Implicit Allocation Mechanism (IAM) specified in the Capacity Allocation Mechanism (CAM) network code. Sales via the IAM involve allocation of capacity directly from the Transmission System Operator (TSO) to the client, and participating clients must be registered shippers of the TSO. The firm also partners with The BBL Company and Interconnector UK to provide their shippers access to the pipeline capacity primary market via the IAM. On the regulatory side, Cavendish Markets states that it is not financially regulated and does not operate an Organised Trading Facility or any other form of MiFID trading venue. Its deals involve flexible, OTC contracts and do not include contracts supported by a Recognised Investment Exchange. Once a deal is arranged, Cavendish Markets introduces the parties via name-passing for bilateral execution, subject to contract and credit, often on EFET terms. These products are not treated as financial instruments; instead they fall under the REMIT regulation. Cavendish Markets is an ACER-registered OMP and reports transactions to ACER via the Equias eRR Recognised Reporting Mechanism, with clients required to be signed up with Equias to benefit from the service. Technology and data are emphasised in the firm's positioning: it says it believes in implementing the best technology solutions and harnessing the power of data for its clients via its platform provider PLEXHUB. The team's main focus is the European gas markets, and it facilitates markets in a range of OTC structured products. The company maintains a public website at cavendishmarkets.com and is recorded in Wikidata.

Cavendish Markets B.V. is a Netherlands-based energy brokerage that, according to its own website, was founded by experienced industry professionals. The company does not publish a precise founding date in the supplied materials, but its business model and regulatory references place it within the post-liberalisation European wholesale gas market, in which pipeline capacity, storage and flexible gas contracts are traded through network codes such as the Capacity Allocation Mechanism (CAM) and reported under REMIT. The firm's stated focus from the outset has been the wholesale gas markets of North West Europe. It describes itself as forming part of the negotiation chain for structured gas products within the European gas arena, and as dedicated to developing niche products. Its service model is that of a bespoke intermediary: rather than operating a trading venue, it arranges flexible OTC contracts, introduces counterparties via name-passing for bilateral execution subject to contract and credit, often on EFET terms. A defining development in the company's history is its role as an Implicit Allocation partner for the BBL and IUK interconnector gas pipelines. Under the Implicit Allocation Mechanism specified in the CAM network code, Cavendish Markets has the right to facilitate the allocation of gas transmission capacity for these pipelines, with capacity allocated directly from the Transmission System Operator to the client. The company also partners with The BBL Company and Interconnector UK to provide their shippers access to the pipeline capacity primary market via the IAM. This positions Cavendish Markets at the interface between pipeline operators, shippers and portfolio managers in the North West European gas market. Regulatory compliance has been another pillar of the company's development. Cavendish Markets states that it is not financially regulated and does not operate an Organised Trading Facility or any other MiFID trading venue. Its products are not treated as financial instruments and instead fall under REMIT. The firm is an ACER-registered OMP and reports transactions to ACER via the Equias eRR Recognised Reporting Mechanism, requiring clients to be signed up with Equias. Technology has also shaped the firm's offering. Cavendish Markets says it believes in implementing the best technology solutions and harnessing the power of data for its clients, working with platform provider PLEXHUB. Its product range has expanded across physical gas products, including fixed and indexed priced swing contracts, virtual transport and storage, OTC calendar spread options, temperature regression products, beach entry products, and transmission and storage capacity rights. The company remains active and maintains a public web presence at cavendishmarkets.com, and is recorded in Wikidata.

Bespoke intermediary service for complex commodity derivatives, focused on niche structured gas products in North West European wholesale gas markets.

• Fixed Priced Swing Contracts

  Physical gas product offering fixed-price swing flexibility.

• Index Swing Contracts

  Physical gas product offering index-linked swing flexibility.

• Swing Spreads

  Structured product based on swing contract spreads.

• Virtual Transport

  Virtual transport product in the wholesale gas market.

• Virtual Storage

  Virtual storage product in the wholesale gas market.

• OTC Calendar Spread Options

  Over-the-counter calendar spread options.

• Temperature Regression Products

  Structured products linked to temperature regression.

• Beach Entry Products

  Beach entry products in the European gas market.

• Physical Pipeline Capacity (via IAM)

  Allocation of physical pipeline capacity via the Implicit Allocation Mechanism.

• Secondary Market Pipeline Capacity

  Secondary market pipeline capacity.

• Secondary Market Storage Capacity

  Secondary market storage capacity.

• Transmission Capacity Rights

  Transmission capacity rights.

• Storage Capacity Rights

  Storage capacity rights.

1. 1Cavendish Markets | energy brokercavendishmarkets.com
2. 2Products & Services | Cavendish Markets B.V.cavendishmarkets.com
3. 3Service Overview | Cavendish Marketscavendishmarkets.com
4. 4About Us | Cavendish Markets B.V.cavendishmarkets.com
5. 5Cavendish Markets B.V.wikidata.org