OpenLink

OpenLink Launches pMotion Power Scheduling for Its Endur Solution

MITCHELL FIELD, NY, March 5, 2003 /PRNewswire/ — OpenLink, an industry leader in energy and financial trading, risk management, and operations software solutions, today announced the release of its power scheduling product pMotion, completing Endur's front- to back-office transaction technology for the North American power markets.

The addition of pMotion to the company's software solution represents the industry's first truly integrated power scheduling product that has been designed and developed from the ground up, within a robust, straight-through-processing (STP) trading, risk management, and operations environment. Leveraging Endur's leading expertise in real-time services, physical risk management capabilities, and STP facilities, pMotion targets and eliminates logistic inefficiencies faced by a range of energy market participants. From asset-based utilities, transmission providers, local distribution companies (LDCs), load-serving entities (LSEs), wholesalers, and marketers to various financial institutions, pMotion offers unparalleled integrated capabilities in dynamic invoice generation and tracking, flexible netting facilities, accounting reconciliation, cash management, and near-time interfaces to external systems, including Independent System Operators (ISOs), exchanges, cash management, and trading partners.

pMotion provides physical power marketers with the ability to perform direct and indirect bookouts using both embedded and user-definable business rules to streamline operations, reduce errors, and increase productivity. Monthly, daily, and hourly coverage is provided — even down to five-minute subperiods. Physical scheduling of interchange transactions is fully supported and includes transmission loss tracking and accounting, physical and market segment data capture, and the generation of energy profiles and losses.

Comprehensive and user-friendly, pMotion gives schedulers the ability to directly manage physical options, while real-time updates to both the scheduler's and the trader's position views provide instant access to changes in transaction information. Once transactions are matched or scheduled, support for delivery management — including rollback, transmission loading relief (TLR), and cut — is provided, as well as for the submission of scheduling information to ISOs, the capturing of locational-based marginal prices (LBMPs), and the return of settlement data. Rounding out pMotion's offerings is a full range of reporting support, such as that needed to comply with Federal Energy Regulatory Commission (FERC) requirements, and transmission usage and losses.

"pMotion has been developed to radically improve logistics processes within the power markets," said Coleman Fung, OpenLink's founder and CEO. "We spent time analyzing our clients' best practices, listening to their frustrations regarding their current facilities, and working with them on requirements that would address existing inefficiencies and functional gaps. This new product will allow them to stay one step ahead, improving operations, supporting growth, and reducing overall cost of ownership," added Fung. "In short, pMotion is another milestone result of OpenLink's continued investment in our energy market solutions and commitment to our clients."

About OpenLink

Founded in 1992, OpenLink is a leading provider of trading, risk management, and operations software solutions. The company's Adaptive, Dynamic, and Integration-enabling (ADI) Framework-based solutions support the most rigorous business requirements of firms trading in energy, interest rate derivatives, fixed income securities, foreign exchange, money markets, metals, and soft commodities. OpenLink's global client base includes Bank for International Settlements, Bank of Canada, Bank of Scotland Treasury Services, Deutsche Bank, Duke Energy International, EnCana, Equiva Services, Mobil UK, Mirant, Nexen, Shell Trading, and Vattenfall Europe Trading. Headquartered in Long Island, New York, OpenLink employs more than 280 professionals worldwide, with offices in London, Houston, New York City, Berlin, and Tokyo.

Editorial Contact:

e-mail: Dorianne Landolphi
OpenLink
Marketing Communications Manager
Direct phone: +1 516 394 1115
Fax number: +1 516 394 1197