TSX Group Inc. has completed its $38-million acquisition of natural gas exchange NGX Canada Inc.

Calgary-based NGX is a Canadian exchange that trades and clears natural gas and electricity contracts. It enables energy traders to trade and clear natural gas spot, forward and swap contracts and electricity swap contracts. Since its founding in 1993, NGX has developed into one of North America’s leading players in natural gas and electricity trading, with a strong market model, solid customer base, consistent revenue growth and profitability.

“We are pleased to have completed this transaction,” said Barbara Stymiest, CEO of TSX Group in a release. “NGX extends our product and service offering, while at the same time expanding our reach outside of Canada. We look forward to building this market in the future.”

Natural Gas Exchange Inc. will maintain offices in Calgary and Peter Krenkel remains as President. Mr. Krenkel has also become a member of TSX Group’s Senior Management Team.

The deal is subject to change in accordance with post-closing adjustments.