GLX will be launching a global LNG exchange in late October 2016.
GLX is a business initially developed in Australia by LNG industry professionals, and is independently owned. It will operate an online auction platform in Singapore for the trading of physical cargoes of LNG.
The company believes the LNG market has now reached a tipping point, and requires an alternative, more efficient trading mechanism given its size, diversity and fragmentation.
GLX believes the platform can be the catalyst to transform the LNG market into a truly global, liquid, and transparent market.
The GLX platform enables members to buy and sell physical cargoes of LNG anywhere and anytime, ensuring that buyers and sellers of LNG have access to the “best price on the day”. The platform provides the mechanism for transparent and objective pricing, which can then be used to underpin reliable and trusted LNG price indices based on LNG supply and demand fundamentals.
The platform will be open for testing by foundation members in November and December of 2016, with trading of cargoes on the platform to commence in the first quarter of 2017.