CITGO Chooses Caminus Zai*Net Manager and Zai*Net Risk Analytics Software for Hedging Positions in Natural Gas, Crude Oil and Refined Products.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 12, 2000 Caminus Corporation (Nasdaq: CAMZ), an industry-leading provider of software solutions and strategic services to the energy markets in Europe and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , announced today that CITGO Petroleum Corporation has licensed its Zai*Net(R) Manager software system. CITGO chose Zai*Net for its functionality in risk management, energy derivatives trading and accounting after an extensive evaluation. CITGO will use the Zai*Net systems to capture energy derivatives trades, create confirms and invoices, report positions and P&L, and perform stress testing Determining the durability of a system by pushing it to its limits. Stress testing a network is performed by transmitting excessive numbers of packets or attempting to break in illegally. and Value at Risk analysis. "We looked at a number of trading and risk management systems. We believed that the Zai*Net package was the best fit for our current and future risk management needs," said Dick Gooley, Manager of Risk Management for CITGO. "Another factor in the decision-making process was the commitment of the Caminus team to a solution tailored to our specific situation." About CITGO CITGO, based in Tulsa, Okla., is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals, refined waxes, asphalt and other industrial products. The company is owned by PDV PDV Petroleos de Venezuela (Oil company) PDV Productschap Diervoeder (Product Board Animal Feed, Netherlands) PDV Prozessdatenverarbeitung PDV Prune Dwarf Virus PDV Portal-Drained Viscera America, Inc., an indirect wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Petroleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela. About Caminus Corporation Caminus Corporation (Nasdaq: CAMZ) is a leading provider of software solutions and strategic consulting services to participants in energy markets throughout North America and Europe, including utilities, electrical power generating companies, energy marketers, electric power pools, gas producers, processors, and pipelines. Caminus offers a suite of software solutions and associated services to enable energy market participants to manage complex risk scenarios and effectively trade and manage energy transactions, addressing multiple energy commodities and types of risk across varied geographies. In addition, Caminus provides strategic consulting services to many of the leading energy market participants. Caminus currently has approximately 100 energy enterprise customers of its software solution and strategic consulting services. Many of Caminus' customers are leaders in the energy industry, including British Energy British Energy plc (LSE: BGY) is the UK's largest electricity generator by volume and a constituent company of FTSE 100. It is primarily an operator of formerly state-owned nuclear power stations. , Consolidated Edison This article is about the utility company in New York. For ComEd in Illinois, see Commonwealth Edison. Consolidated Edison, Inc. NYSE: ED is one of the largest investor-owned energy companies in the United States. , Conoco, and Powergen. Caminus is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , with offices in Houston and Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. ; and London and Cambridge, UK. For more information about Caminus, visit its web site at www.caminus.com. |
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