SAKONNET TECHNOLOGY ADDS EUROPEAN POWER TO
TRADING, RISK MANAGEMENT SYSTEM
New York, September 25, 2001 – Sakonnet Technology, an energy trading software and services provider, has expanded its trading and risk management application to include European electricity transactions and scheduling, the company said.
Now, traders can quickly and easily enter, track and analyze their physical and financial power trades in the German, Nord Pool and other European markets. Analysis is done in real time, enabling traders to take advantage of sudden shifts in the market.
“This powerful new technology meets the European markets’ needs because it reflects direct input from some of the region’s major players,” said Thurstan Bannister, Sakonnet’s Chief Executive Officer.
Operations staff can schedule power deliveries online, giving them better control over their physical portfolios. Users can define their own load profiles for analysis along with standard peak, off-peak, baseload and Leipzig Power Exchange load profiles.
Additional features include the ability to value options strips as well as the usual monthly expiry. Risk managers will be able to model physical generation assets to evaluate potential market opportunities.
“Sakonnet is unique in this field because it enables companies to evaluate its software in a true production environment with full support before any financial or hardware commitment,” Bannister added. “We look forward to more utilities across Europe trying out our new power functionality and proving its advantages to themselves.
About Sakonnet Technology
Sakonnet Technology is the market leader in Software as a Service (SaaS) for energy trading and risk management. Sakonnet's expert international teams provide an unrivalled level of hosting, support, upgrade and consulting services linked to its advanced Xenon® platform. These services along with Xenon's streamlined interfaces and workflow, transform the end-user experience, resulting in higher productivity, stronger risk control and a trading edge. Sakonnet addresses the needs of energy companies, banks and hedge funds trading in power, natural gas, crude oil and related markets and has offices in New York and London.
+44 (0)1753 893000
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+1 212 343 3170 +44 (0) 207 960 6043
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