London, England – December 6, 2000: Natsource Tullett-Europe, Ltd, a leading energy and environmental broker, announced today the opening of its over-the-counter coal brokerage operation for Europe. The brokerage operation, which will be based in London, England, is one of the first desks to cover this emerging commodity market. The desk initially will be manned by Mark Lindley Brook, a new hire by Natsource-Tullett Europe with extensive experience in brokering markets.
New York-based Natsource® LLC, one of the partners of the Natsource-Tullett Europe Joint venture, was the first to broker over-the-counter coal trades in the United States. The company remains the leading broker in coal markets, which have doubled in volume year-over-year since its inception just over two years ago. Rick Thomas, a thirty-year veteran of the coal industry, heads the United States coal team. Mr. Thomas’s fifteen years of experience in the international coal market will be leveraged in entering the European coal market.
“The integration of all energy and environmental commodity markets in Europe has begun to occur, much like it has in the United States,” said Per-Otto Wold, managing director of Natsource-Tullett Europe. “Natsource led the way in the United States bringing specific commodity brokerage expertise and the ability to manage risk across markets. European corporations, as well as other global companies with European operations, have the same risk exposures. Our coal brokerage desk joins desks devoted to electricity, natural gas, and environmental markets, enabling us to bring this experience to our European and global client base.”
Mark Lindley Brook comes to Natsource-Tullett Europe with over fifteen years of experience in broking markets. Mr. Brook spent the last ten years as a Broker for Tullett & Tokyo Liberty in London, a joint venture partner with Natsource LLC. In the future, he will work closely with the Natsource coal team in the United States.
Prior to Tullett & Tokyo Liberty, Mr. Brook served as Assistant Manager at Chase Manhattan Bank in London. He worked in several brokerage and desk positions at Chase and previously gained experience in Eurobond and Equity Settlements at Morgan Stanley International. Mr. Brook began his career at Barclay Bank in Essex.
“Mark Brook is a strong addition to our team,” said Mr. Wold. “His extensive experience with Tullett & Tokyo will prove invaluable in this new market.”
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Natsource® LLC is a leading broker of energy related products and participates in the power, natural gas, coal, weather hedging and emissions allowance credit markets. Headquartered in New York, Natsource’s client base includes over 600 global companies who are leaders in the utility, coal, oil and natural gas markets, as well as the investment and commercial banking communities. With its joint venture partner, Tullett & Tokyo Liberty, Natsource has global reach in all of the major financial centers.
Tullett & Tokyo Liberty plc. is one of the leading brokers of wholesale financial products covering all aspects of the Money, Securities, Derivative and Foreign Exchange markets. With a staff of over 2500 and offices in nineteen locations around the world including all the major financial centers, Tullett offers the geographical reach and product expertise demanded by its customers who include the world’s leading banking and investment institutions.
