Sakonnet debuts Xenon 5 Advanced ETRM Solution
London, January 27, 2009 - Sakonnet Technology (www.sknt.com), a leading provider of European energy trading and risk systems announced today that Xenon 5, a radically advanced version of its energy trading and risk management application is now generally available in the market.
Xenon 5 includes advanced trader tools and significant performance optimization based on a new architecture running 100% on the Oracle 10g platform. Clients will benefit by accessing consolidated positions and profit and loss (“P/L”) in real time with higher overall application performance and scalability.
Xenon 5’s updated Dashboard enlists Oracle 10g’s Real Application Clusters for grid computing. This allows for massive parallel computations on huge price and trade data sets common to large, complex OTC portfolios in European power and gas markets, with position granularity down to 15-minute intervals.
Sakonnet has also created a new module called Dashboard Quick View which displays consolidated positions and P/L in real time, by combining the latest trades entered with the last “snapshot” of market data and portfolio of trades. It also displays enables users to drill down their positions and P/L down to the underlying trades.
“Xenon 5’s new functionality and architecture makes it the most advanced energy trading application in the market” commented Eric Min, CEO of Sakonnet Technology. “Encouraged by our clients, this is a culmination of a massive two year development project with millions invested in R&D to create a platform which can process some of the largest power portfolios in the Continental European power and gas markets.”
Alarik Myrin, Sakonnet Technology’s CTO, added: “Xenon 5 is the biggest single leap forward in the Xenon application since the company started. It gives our sophisticated clients the ability to track positions and profit and loss during the day, even as thousands of new trades are coming in. They get tremendous performance benefits from Xenon leveraging Oracle 10g’s grid computing capacity. We are delighted to have reached this point, and look forward to energy market participants quickly drawing upon on this fast, robust, functionally-rich trading solution for their ever-expanding needs.”
Sakonnet Technology rolls out Xenon 5, including state-of-the-art trader tools and enhanced performance, all on the Oracle 10g platform
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, London and Rio de Janeiro.
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