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MTX Looks to Europe and beyond for Growth

MTX Commodities was established in 2013 in Turkey but recently (2018) it has opened an office in London as it tries to build on the success that it has had to date. It got started by Ms. Melis Aksari who saw the need to build an ETRM in Turkey to cater for that market. ”Turkish traders have a particular culture and set of needs that just wasn’t able to be met by the usual suspects out of the US and UK,” she told me. “So, we decided to build something, and we now have 90% of the Turkish market.” The company recruited a CEO in the form of ex-Trayport Mr. Paul Constantinou and opened a London office in a bid to expand. Ms. Aksari is the COO of MTX Commodities.

MTX actually provides a suite of products already to support the operations of market operators, traders, portfolio managers, risk managers and analysts, that includes not just a cloud native ETRM solution but,

  • An exchange solution for small and mid-scale energy and commodity exchanges,
  • A specialist trading platform for the operation of OTC energy and commodity markets in both bilateral and cleared mode,
  • An electronic trading platform for OTC and Exchange markets,
  • An algo-trading solution,
  • The ETRM.

MTX is not just focused solely on the core European energy markets as it has successfully deployed an OTC trading platform for natural gas in the Ukraine, for example, – working in emerging markets is also a key aspect of the MTX model. Current activities also include a training and market development program in Georgia and Nigeria for the broader West African market, Ms. Aksari told me.

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The software is offered as a monthly subscription based hosted or on-premise service package with short notice periods and there are no upfront payments – a model that is becoming increasingly prevalent especially among newcomers to the ETRM world. The ETRM works for all types of venue, market and assets and provides a range of real-time position reports, P&L, collateral and invoice reports. It also covers spot, cross-border, capacity, options, forwards and futures contracts. The ETRM can be deployed with other MTX products like aggregated trading screens, algo trading and broker, exchange and internal market systems to provide a coherent and integrated energy trading solution.

We will be following MTX now we have had this initial briefing to see how well they go in the broader European market and beyond.