News
Enbridge Licenses OpenLink's Endur and Findur
Result Is a Combined, Unified Solution for Energy Commodity and Capital Market Transactions
HOUSTON, TX, April 18, 2003 /PRNewswire/ — OpenLink, an industry leader in energy and financial trading and risk management software solutions, today announced that Calgary-based Enbridge Inc. has licensed OpenLink's Endur and Findur to support its natural gas, NGL, crude oil, and power transactions, as well as foreign exchange and corporate debt activities.
"The ability to upgrade our current systems to a single solution that supports these diverse, yet fundamentally linked, businesses was the key selection driver," said Vern Yu, director of financial risk management at Enbridge. "Enbridge's asset-rich, cross-border structure requires a robust risk management solution that has a wide breadth without sacrificing functional depth. OpenLink has shown us that their unified solution of Endur and Findur best fits these demands."
With this implementation, Enbridge will be able to provide its users with a complete cross-market, straight-through-processing deal-capture environment that leverages a common pricing and analytics engine, risk management framework, and transaction-processing environment. The result is a seamless solution that generates business intelligence that would normally require a substantial integration effort of multiple systems.
"Leveraging the functionality of Endur and Findur will enable Enbridge to use a single solution to manage all of its market and credit exposures," said Matthew Frye, managing director of OpenLink's Houston division. "This upgrade of their front- to back-office risk management infrastructure will provide an adaptable foundation that isn't available within any other energy commodity software offering."
Endur and Findur — widely used in the global energy and financial markets, respectively — can be implemented as one solution to support a diverse range of transaction types and provide a consolidated view of an organization's global risk exposures.
"Since both Endur and Findur products are built on a common risk management core, we can easily provide a unified solution to new customers, or seamless upgrades of capital market functionality to existing energy users," said Coleman Fung, OpenLink's founder and CEO. "In light of the difficult capital market environment faced by many energy firms, having the capability to seamlessly incorporate one's financial exposures represents yet another OpenLink advantage."
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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