media contact


Perry Undseth, President & CEO
Phone: 403.215.5655

pundseth@oneexchangecorp.com

 

 

 

 

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Announcements

April 28th, 2016


One Exchange Expands Crude Oil Product Offerings with Coverage of US Midwest and Rockies Markets

 

One Exchange is pleased to announce the addition of 39 products (29 new, 10 updated) to its crude oil platform. These products will provide crude oil market participants with both liquidity and price transparency in the US Midwest (PADD II) and the Rockies (PADD IV).

Please see the list of tradeable instruments below that are now live on TheOX Trading platform.

Click Here for full press release with included markets.

JuNE 20th, 2014


Perry Undseth speaks at Energy Risk conference: Fragmentation seen as holding back Canadian oil derivatives

 

The existence of several rival price indexes for Western Canadian Select is hindering the growth of financial trading in heavy crude oil from Alberta, market participants say Despite some improvement in liquidity in Canadian heavy crude oil derivatives, financial trading in Western Canadian Select (WCS) has yet to really take off, market participants complained during a panel discussion at Energy Risk Canada in Calgary on June 17.

Perry Undseth, president and chief executive of One Exchange, a Calgary-based energy broker, voiced disappointment that the market had not yet coalesced around a single, unified benchmark contract for Canadian heavy crude – a contract that might eventually attain the same sort of prominence as West Texas Intermediate (WTI) or North Sea Brent, the prevailing global oil benchmarks.


"What I think is lacking, really, is branding," Undseth said. "There isn't really a Canadian-branded benchmark. If you look at the global oil market, everyone talks about WTI and Brent. Canada is a pretty significant oil producer, and that presence is going to grow over the next decade. Why is it that we don't have a Canadian-branded benchmark?"

There is no single broker, exchange or price reporting agency that publishes an index broadly regarded as the canonical price of WCS. Most WCS transactions are handled by three Calgary-based brokers: Net Energy, Shorcan Energy Brokers and the smaller One Exchange. Net Energy and Shorcan publish competing indexes for the price of WCS, and many market participants use a blended, volume-weighted average of the two, while others use an average that includes prices from all three brokers.


Because of disagreement over which index to use, market participants remain uncomfortable trading financially settled contracts in WCS. Unlike in WTI or Brent, where financial trading dwarfs the small volumes of physical trading that take place, the WCS market remains firmly physical, according to Undseth. "Right now we see the physical outstripping the financial," he said.


Several exchanges have attempted to launch WCS futures contracts, with limited success. Lately, Chicago-based CME Group has enjoyed some modest success with its Canadian Heavy Crude Oil Index (Net Energy) Futures, known by their product symbol WCC. From June 2011 to June 2013, open interest in WCC skyrocketed from 690 lots to 20,460 lots, an increase of almost 3,000%. But the contract has faltered since then, with open interest slumping to 14,100 lots in May 2014, according to CME Group data. The contract is linked to the WCS index published by Net Energy, and most of the volume reflects swaps brokered by the company and submitted for clearing.


Undseth and his fellow panellists said it would preferable for a benchmark contract to reflect a broader underlying pool of WCS transactions, not just those brokered by Net Energy. Tim Pickering, founder and chief investment officer of Auspice Capital Advisors, a Calgary-based commodity-focused hedge fund, said such a benchmark was needed to draw in financial players, including institutional investors seeking exposure to WCS. Such investors are "befuddled" by the current WCS pricing system, he said.


During the coming months, Auspice plans to launch its own index for Canadian heavy crude, the Canadian Crude Index (CCI). Eventually, Auspice hopes CCI will be used as the basis for an exchange-traded fund (ETF) that retail investors can use to include Canadian crude oil in their portfolios, alongside other commodity ETFs. However, getting the various brokers to share transaction information was a huge challenge, Pickering said. "It has been really difficult," he said. "It's been like herding cats to get the brokers to agree to this."

By coincidence, the panel discussion took place the same day Canada's federal government granted approval for Calgary-based midstream firm Enbridge to build its proposed Northern Gateway pipeline, linking Alberta to the Pacific Ocean through the port of Kitimat in British Columbia. If completed, the pipeline would allow Canadian heavy crude to reach Asian markets. Currently, the US is the predominant export market for crude produced in the Alberta oil sands.


LINK:
http://www.risk.net/energy-risk/news/2350911/fragmentation-seen-as-holding-back-canadian-oil-derivatives

 

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JuLY 5th, 2013


One Exchange Corp. is pleased to annnounce an Alberta flood relief fundraising day

 

As many of you continue to work on the clean-up from the recent flooding in Calgary and the surrounding areas, we would like to extend our sincere wishes for progress and success with your recovery efforts.  With the continued support of our friends, family, neighbors and the community-at-large, we will be better able to move beyond this major set back.   With this belief in community in mind, One Exchange Corp. is pleased to announce an Alberta flood relief fundraising day:

 

On Wednesday, July 10, 2013, One Exchange Corp. will donate its brokerage earnings directly to the Canadian Red Cross Alberta Floods Fund in order to continue to assist those affected by Alberta’s recent flood disaster.  Please help us help Alberta’s flood victims, because although the flood is over, the recovery is not. 

 

As an added incentive to mark Wednesday, July 10th, 2013 in your calendar, for every trade you transact with us, your name will be entered into a draw for a Calgary Stampede “Come Hell or High Water” t-shirt (or if you prefer - the kid friendly version “Come Heck or High Water” t-shirt).  Proceeds from these  t-shirts also go directly to the Canadian Red Cross Alberta Floods Fund.

 

Thank you for your support,

One Exchange Team 

 

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June 20th, 2013


Should Canadian oil producers ditch WTI?

 CALGARY — Canadian oil traders, brokers and even hedge funds are mounting a renewed campaign to forge the missing link in the burgeoning market for oil sands crude — a single, liquid benchmark price. After several years of increasingly volatile swings in the price of Canada’s oil sands or synthetic crudes relative to U.S. benchmark WTI futures, discussion over how best to foster a robust derivatives market has accelerated — particularly among a handful of companies that stand to benefit from it most...
Click Here to Continue reading....

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March 26th, 2013


OX is excited to invite you to Canada's energy capital to attend one of the best oil confrences of the year 

 Global Canadian Crude Oil Trading & Markets Conference; come to learn, network and do buisness.

Click Here for more information


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october 15th, 2012


OX offers free brokerage on bi3 index transactions through to february 2013. 

October 15th, 2012 Calgary, Alberta, Canada - In recent months, OX has seen increased interest in the BI3 Index products, and on Friday, October 11th 2012, OX facilitated 30,000m3 of Dec12 Sweet Crude Oil contracted on the BI3. A growing number of major participants in the Canadian Crude Oil market are recognizing the benefits of having a broader index.

 

In recognition of the time required to migrate contracts from the conventional blended index to the new BI3 benchmark, OX is offering FREE commission on all BI3 Index transactions executed during the next three trading windows (Dec12, Jan13 & Feb13). Additionally, OX will provide BI3/BI2 swap products enabling customers to swap their existing blended index open interest, to the new BI3 benchmark product, FREE of commission through to February 2013.

 

This initiative not only aims to make the transition to BI3 products as easy as possible, but also intends to advance a single independent index for all Canadian crude oil markets through an independent index consolidator. Incorporating the OX Index (OXI) in the current calculation marks a fundamental step forward in this significant initiative. Publishing a broker driven, independent, and consolidated index for the Canadian Crude Oil market is imperative in establishing the Canadian Oil Market as a Global Benchmark.

 

OX will publicise the OX Index (OXI) at 4:00pm each month on the Notice of Shipper date. The OX Real-Time Indices can be viewed at http://oneexchangecorp.com/COIndices.aspx and through THE OX Trading Platform browser window. Please contact your OX Representative for access.

 

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september 17th, 2012


OX announces the first Sweet pembina bi3 screen transaction. 

September 17th, 2012 Calgary, Alberta, Canada - OX announces the first Sweet Pembina BI3 transaction. The BI3 Index embodies a larger scope of the Canadian Crude Oil market by including the OX Index (OXI) in the current benchmark calculation. One trader was quoted as saying they "appreciate the initiative taken to advance a single index for all Canadian Crude Oil grades... the BI3 product is a step in the right direction". To reinforce this single index commitment, OX is offering a reduced commission rate of 0.005 USD/BBL on all BI3 trades executed on THE OX Trading Platform.

 

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July 19th, 2012


OX is proud to announce the first live WTI CMA (Calendar Month Average) screen transaction. 

July 19th, 2012 Calgary, Alberta, Canada - OX is proud to announce the first live WTI CMA (Calendar Month Average) screen transaction.  We are excited about the hedging and trading opportunities this product will offer physical and financial oil market participants.  “The OX trading platform offers a comprehensive suite of products allowing our customers to manage multiple trading needs on a single platform” said Perry Undseth, President, One Exchange Corp. 

 

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June 19th, 2012


ONE EXCHANGE CORP. (OX) ANNOUNCES FIRST CRW BI3 TRANSACTION

June 19th, 2012 Calgary, Alberta, Canada - OX is proud to announce the first WCS BI3 transaction in the Canadian Crude Oil marketplace. The BI3 Index is a blended index which includes the OX Index (OXI) in the current blended benchmark calculation. By contracting a deal against the BI3 index, the benchmark represents a larger scope of the market. "OX is excited about the progress we have seen over the past few months.  The combination of OX WCS volumes representing approximately 10% of the total volume through the NOS window for the July, 2012 contract and a reduced commission rate for BI3 products from 0.01USD/BBL to 0.005USD/BBL, there are now more counter-parties interested in contracting the BI3 products. OX is committed to the development of a single index for all Canadian Crude Oil grades through the development of the BI3 products" said Perry Undseth, President, One Exchange Corp.

 

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January 17th, 2012


One Exchange Corp. joins CME ConfirmHub for Natural Gas STP

January 17th, 2012 Calgary, Alberta, Canada- OX trade data for Natural Gas will be available on CME ConfirmHub effective Tuesday, January 17, 2012. OX continues to show its commitment to the markets it serves with emphasis on streamlined operations for its customers. We view CME ConfirmHub as a great solution for our customers providing timely, consistent and accurate trade information between THE OX voice broker assisted platform and our customers. 

 

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October 25th, 2011


OX CONTRACTS WCS BLENDED INDEX

October 25th, 2012 Calgary, Alberta, Canada - One Exchange Corp. (OX) facilitates a December WCS (Western Canada Select) Blended Index deal which includes trade data derived from WCS transactions contracted through OX. By contracting a deal which includes data from OX, the index created represents a larger scope of the market. OX is committed to continued progress in the development of an all-encompassing index for all Canadian Crude Oil grades.