E.ON Sales & Trading Selects Sakonnet Technology's Xenon Trading, Risk Management Software.Business and Technology Editors LONDON--(BUSINESS WIRE)--May 8, 2002 Sakonnet Technology announced today that is:energy, the information technology affiliate of Munich-based E.ON E.ON Energy On (German energy company) Energie, has entered a term services and licensing agreement for Xenon xenon (zē`nŏn) [Gr.,=strange], gaseous chemical element; symbol Xe; at. no. 54; at. wt. 131.29; m.p. −111.9°C;; b.p. −107.1°C;; density 5.86 grams per liter at STP; valence usually 0. (TM), Sakonnet's energy trading and risk management system. Xenon will first be used by E.ON Sales & Trading GmbH for trading and managing risk in the European power markets, with is:energy providing primary support. It will cover financial and physical deal capture, position and risk reporting, including credit and Value at Risk ("VaR"), and straight-through trade processing, from confirmations to scheduling. Real-time electronic links will be made to other E.ON Sales & Trading applications and the European power exchanges. "We look forward to helping E.ON Sales & Trading maximize its productivity on the Xenon platform," said Jorg Zunft, Chief Executive Officer of is:energy. "E.ON Sales & Trading requires a robust and long-lasting technology base", said Thurstan Bannister, Sakonnet's Chief Executive Officer. "It must cover quickly new products, market rules and risk measures. Support has to be real-time and round-the-clock. We are immensely excited about linking up with is:energy on these tasks to serve users at E.ON Sales & Trading really well." About E.ON Energie E.ON Energie (www.eon-energie.com) is Europe's largest investor-owned energy service provider. It supplies roughly 25 million customers with electricity, gas and water. E.ON Energie's affiliates and subsidiaries include E.ON Sales & Trading, responsible for sales, hedging and market-making operations, and is:energy, the largest full-service IT provider in the German energy industry. E.ON Energie is a subsidiary of E.ON AG, whose shares are listed on all German stock exchanges (ticker "EOA EOA Equal Opportunity Advisor EOA Ethics Officer Association EOA End Of Address EOA Effective Orifice Area (cardiology) EOA Esophageal Obturator Airway EOA End of Auction EOA Early Operational Assessment "), the Swiss Stock Exchange, and as ADRs on the NYSE NYSE See: New York Stock Exchange (ticker "EON eon Long span of geologic time. In formal usage, eons are the longest portions of geologic time (eras are the second-longest). Three eons are recognized: the Phanerozoic Eon (dating from the present back to the beginning of the Cambrian Period), the Proterozoic Eon, and the "). About Sakonnet Technology Sakonnet Technology (www.sknt.com) delivers trading and risk management software and related services to companies trading in the oil, power and natural gas markets. Its object-oriented, Web-enabled Java application A Java program that is run stand alone. The Java Virtual Machine in the client or server is interpreting the instructions. Contrast with Java applet. See servlet. allows clients to capture and process trades and view position and risk reports in real time. Sakonnet is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with entities in the United States, United Kingdom, Ireland and Sweden. |
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