Sakonnet Technology Opens Beijing Office
Beijing/London/New York, 12 January 2012 - Sakonnet Technology announced today the opening of its Beijing office to build the foundation of its operations in Asia. The office will be led by David Wang, General Manager and Head of Sakonnet’s Asian operations. The office is staffed with an experienced team from the energy, banking and technology sectors.
From this new base, Sakonnet’s consulting services and trading and risk management technology platform, XenonTM, will be marketed to players in China, Indonesia, and other geographical regions with rapidly developing needs for sophisticated trading and risk management solutions.
“In particular for the Chinese and Asian markets, Sakonnet will be unique in its local presence for both risk advisory and technology. The combined skills and the team make for a very compelling offering.” said David Wang, General Manager Asia.
Philip Renton, Chief Operating Officer and Head of Product Management for the company, added “We’ve made investments in Xenon to make it a comprehensive risk platform that will make our Asian clients successful. They will have the transparency they need into their traded positions, portfolio risks and earnings forecasts. With a dedicated team and combined consulting and product offerings, Sakonnet truly delivers a market leading platform.”
XenonTM, Sakonnet’s technical platform, covers financial and physical deal capture, position and risk reporting, including credit and Value at Risk (“VaR”), and straight-through trade processing, from confirmations to deal settlement. Real-time electronic links are made to other corporate applications and external systems.
“Our clients require a robust and long-lasting technology base and ongoing advisory services”, said Eric Min, Sakonnet’s Chief Executive Officer. “Service providers must quickly respond to new market developments, products and risk measures. We are immensely excited about the future of Sakonnet in the Asian market. Our track record demonstrates that we can deliver quality services to secure long lasting relationships with clients.”
US/Europe: Eric Min firstname.lastname@example.org +44 20 7808 1000
Asia: David Wang email@example.com +86 10 8441 7982
About Sakonnet Technology
Sakonnet Technology is full service consulting and technology firm focused on trading and risk management solutions in the natural gas, crude oil, power and commodity markets. Sakonnet's consultants provide practical advice on best practice implementation frameworks and have held senior roles at international investment banks, energy and technology companies.
Sakonnet is also the developer of XenonTM, an advanced technology platform specifically designed for trading and risk management. The company is privately-held and has operations in New York, London, Rio de Janeiro and Beijing.
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