News
Edison Mission Marketing & Trading Selects OpenLink's Endur and pMotion
Edison Mission Energy Affiliate to Implement Integrated STP Energy Solution
HOUSTON, TX, March 11, 2003 /PRNewswire/ — OpenLink, an industry leader in energy and financial trading and risk management software solutions, today announced that Edison Mission Marketing & Trading (EMMT), the Boston, Massachusetts-based leader in power and energy trading and marketing, risk management, and asset restructuring, has licensed Endur for the front- to back-office administration of power transactions, as well as natural gas and coal procurements for their parent company's generation assets. In addition, EMMT has licensed pMotion, OpenLink's recently announced integrated power scheduling product that provides marketers and schedulers the tools needed to manage the book-out and physical delivery of power transactions.
"Robust risk management, lower cost of ownership, and the added ability for us to optimize our fuel purchases for our generation assets within one straight-though-processing solution is what initially put Endur on our short list," said Andy Hertneky, vice president of risk for EMMT's parent company, Edison Mission Energy. "The benefit of leveraging pMotion not only proves that OpenLink offers the best solution for our front- and middle-office physical trading and marketing activities, but that it is also the best solution for our logistic and back-office processing. This IT integration will provide Edison Mission with significant internal economies of scale."
Endur — OpenLink's industry-leading, cross-market trading, risk management, and operations solution for the global energy/commodity markets — is the backbone transaction management software environment for a worldwide community of energy users. "This robust solution has now been improved, becoming the first and only energy software offering that truly integrates and manages all trading, risk management, logistic, accounting, and operations activities within one open framework," said Matthew Frye, managing director of OpenLink's Houston division. "Moreover, leveraging Endur's real-time capabilities, OpenLink has developed pMotion to specifically address the logistic inefficiencies faced by users running separate — and sometimes orphaned — scheduling systems."
"The addition of our pMotion power scheduling product to Endur represents the fruit of our unwavering investment in and commitment to the energy market. Energy companies, large or small, asset-based or marketing-oriented, can continue to expect and rely on OpenLink to provide state-of-the-art energy solutions," added Coleman Fung, OpenLink's founder and CEO. "This is additional proof that we continue to invest in and improve our product offerings to address the new profile of the energy market. And this partnership with EMMT highlights that we are on the right path."
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 Banco de Mexico, Bank of America, Bank for International Settlements, Bank of Canada, Bank of Scotland Treasury PLC, Bridgeline Holdings, Deutsche Bank, Edison International, Enbridge, Mirant, Nexen, Shell, and Vattenfall Europe Trading. Headquartered in Long Island, New York, and with offices in London, Houston, New York City, Berlin, Sydney, São Paulo, and Tokyo, OpenLink employs more than 270 professionals worldwide.
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