Energia Selects SunGard's Entegrate ZaiNet for Straight-through Processing of its Power and Gas Trading Operation.Business Editors NEW YORK--(BUSINESS WIRE)--April 28, 2004 SunGard Energy Systems, an operating group of SunGard (NYSE NYSE See: New York Stock Exchange : SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), today announced that Energia, part of the Viridian Group Viridian Group plc is a Northern Ireland-based energy business with interests in both Northern Ireland and the Republic of Ireland. Viridian owns Northern Ireland Electricity (NIE), Viridian Power & Energy, Energia, Huntstown and Powerteam. , has selected Entegrate ZaiNet for straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. and risk management of its physical and financial power and gas contracts. Energia needed a proven energy trading and risk management solution that met its functional requirements See information requirements and functional specification. (specification) functional requirements - What a system should be able to do, the functions it should perform. within a budget, to support its continued growth in energy trading with the phased openings of the energy market in Ireland. It selected Entegrate Zainet for straight-through deal-capture, risk management and back office processing of physical and financial instruments. Derek Russell Derek Russelll (born June 22, 1969 in Little Rock, Arkansas) is a former American football wide receiver who played college football at the University of Arkansas, and the seven seasons in the NFL. , commercial development manager at Energia, said, "We selected Entegrate Zainet because it meets our functional requirements, because of its strong installed customer base in Europe, and because of the financial security and demonstrated industry expertise of SunGard. We expect Entegrate Zainet to help us to improve operating efficiency by providing seamless straight-through processing, and to serve as a platform for growth in newly deregulated markets." Matt Mandalinci, president of SunGard Energy Systems, said, "Entegrate Zainet is an important part of our global offering, specifically in Europe with its ability to support European deal types and pricing, market interfaces and granular reporting requirements. We continue to update and enhance the features and functionality within Entegrate Zainet, drawing on our industry expertise and working closely with our European Entegrate ZaiNet customers. Current areas of focus include continental power and scheduling and the EU emissions trading scheme." About Energia Part of Viridian Group, Energia is Ireland's leading independent energy supplier pioneering initiatives in the deregulating de·reg·u·late tr.v. de·reg·u·lat·ed, de·reg·u·lat·ing, de·reg·u·lates To free from regulation, especially to remove government regulations from: deregulate the airline industry. energy marketplace. On an all Ireland basis, Energia has the largest share of the deregulated market, supplying over 550MW to industrial and commercial customers across Ireland. The company is a leading provider of electricity including power from renewable resources. About Viridian Group PLC Viridian Group PLC is listed on the Dublin and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and employs over 2500 people. In 2002/03 the Group had a turnover of GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 780 million / EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.1 billion Northern Ireland Electricity Northern Ireland Electricity plc (NIE) is the electricity transmission company in Northern Ireland. NIE does not generate electricity but purchases it from several power stations in Northern Ireland, as well as interconnectors with the Republic of Ireland and Scotland. (NIE NIE Newspapers in Education NIE National Intelligence Estimate (US government) NIE Newspaper In Education NIE National Institute of Education (various countries) ), the Group's major subsidiary, is responsible for the regulated procurement, transmission, distribution and supply of electricity to 733,000 homes and businesses in Northern Ireland. Viridian Group has all-Ireland energy interests through Energia, an electricity supply business operating in the competitive markets in Ireland and the Huntstown Power Station near Dublin. NIE Powerteam, which undertakes contracting work on electricity networks and high voltage facilities is also a member of the Viridian Group. Also a member of the Viridian Group is Sx3, an IT and outsourcing business. Contact Robin Greer, Corporate Communications Manager, 44 (0)28 9068 9178. Website: www.viridiangroup.co.uk About SunGard Energy Systems SunGard Energy Systems is a leading provider of integrated solutions that help energy companies to more efficiently and profitably trade and market energy, process transactions, manage risk, and optimize operational and financial decisions. SunGard Energy Systems serves over 200 major energy market participants across North America and Europe, including utilities, power generating companies, energy traders and marketers, gas producers, pipelines, distribution companies, and public agencies. Visit www.energy.sungard.com About SunGard SunGard is a global leader in integrated software and processing solutions, primarily for financial services. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20,000 customers in more than 50 countries, including the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo, and Entegrate Zainet are trademarks or registered trademarks of SunGard Data Systems Inc. in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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