Natural Resources committee  Yes.

Natural Resources committee  It probably would depend on what the requirements were. If there were a requirement for real-time data delivery to the new agency, then, yes, it would be a bit more onerous on us to provide that. As Steve mentioned earlier, you're immediately setting up a competitive quandary for

Natural Resources committee  You know, with regard to requirements to submit, it's pretty light as to where we must submit data. As we mentioned at the beginning, we are a highly regulated entity, so our regulators have full access to view anything they need to. The CFTC in the United States and the ASC in C

Natural Resources committee  That's where I was going to go, too. The pricing, it's not.... It's true, complete supply dynamics, supply and demand dynamics, at work here. While we aren't publishing volume numbers or we aren't publishing production numbers, with our real-time markets the pricing is truly refl

Natural Resources committee  From an NGX perspective, almost all of our data, definitely all the price index data is completely what we call “transparent”. It's all built off of transactional data done on screen. When I talk about the two data products, the price indices, which are very important, are comple

Natural Resources committee  Not really. I guess I would come back to.... For us—and again, we're a little bit on a different footing than some of our clients—it comes down to the aggregation of that data. Most of the datasets that clients would need to develop the forward curve are out there somewhere, but

Natural Resources committee  Sure. With the price settlement process, effectively a couple of different pieces happen. NGX has built our own relationship engine or settlement engine. Effectively it's really just the way to price gas, or any commodity, across multiple different locations. First, we have r

Natural Resources committee  I think also what's really important is that, while I'm the data guy and it's kind of weird to say this, we do have a core business that really is trading in clearing commodities as well, so I think providing more tools for our clients to be informed and to make more informed dec

Natural Resources committee  Sure. We don't directly provide data to the EIA and we don't have a direct relationship with them. I think they do access our website, as I mentioned, so they will get our settlement curves and that type of stuff from the website. We don't have a direct connection with them. We u

Natural Resources committee  I would guess it's the latter, that are using us as a basis for comparison. As I said, they can access it and take a look at it, but from a republishing perspective, we have some pretty strict language around our contract because it's proprietary. They aren't allowed to take exac

Natural Resources committee  That's a good question.

Natural Resources committee  I also think there's a really competitive business in the aggregation part of the data world, so there's a ton of desktop providers and they really are trying to build that perfectly aggregated collection of data. There are a lot of people in our business for sure, both in Canada

Natural Resources committee  Good morning, everybody. I just wanted to speak really briefly about the data products offered by NGX. All of our data products really are derived from transactional data. I think it's important to understand that we really are an exchange and clearing house, so our data product