Excelergy Launches HedgeDirect Software Platform to Automate and Optimize the Way Energy Merchants Deliver Structured Pricing Deals to Key Customers.Business Editors/High-Tech Writers HOUSTON--(BUSINESS WIRE)--July 8, 2003 End-to-end platform for quoting, execution, confirmation, clearing and contract management of structured retail energy deals demonstrated in Houston Excelergy(R) Corporation, a world leader in high performance software platforms automating critical business processes in the energy/utility industry and other restructuring value chains, today unveiled its new Excelergy HedgeDirect(TM) platform at a special press briefing at the Four Seasons Hotel in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . Excelergy HedgeDirect is a real-time transaction management platform that provides complete end-to-end automation and 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. for the quoting, execution, confirmation, clearing and contract management of structured retail pricing deals for power and gas. "Presently there is significant market opportunity for a software platform that delivers accurate, real-time execution of complex structured retail deals," said Terry Ray, META Group's vice president for Energy Information Strategies. "Up to now, retailers have depended on slow, error-prone manual processes. These can put their companies at great risk as market shifts continue to occur during the time it takes to create and execute contracts. One bad deal can have a dramatic impact on a retailer's bottom line performance. In addition, companies are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. solutions which provide real-time disclosures on a rapid and current basis." Houston-based Occidental Energy Marketing ("OXY") and Berlin, Connecticut-based Select Energy Inc. already have signed on as charter clients to deploy Excelergy HedgeDirect, and Excelergy expects to announce several additional HedgeDirect clients this quarter. Excelergy HedgeDirect is being offered as both 1) a managed service and 2) a standard application license. In both cases, the new platform will enable end-to-end straight-through processing, provide complete automation of pricing and contracts, minimize manual errors, reduce time delays between offer and execution, avert disputes, automatically enter retail commitments into the trading book Trading Book The portfolio of financial instruments held by a brokerage or bank. The financial instruments in the trading book are purchased or sold to facilitate trading for their customers, to profit from spreads between the bid/ask spread, or to hedge against various types of to cover positions, and provide detailed auditing for financial performance, commission plans, accounting and regulatory reporting. "Excelergy HedgeDirect revolutionizes the way energy merchants will conduct business with their most important customers," said Bill Mahoney Bill Mahoney (born June 23, 1936 in Peterborough, Ontario) is a former Canadian ice hockey coach. He was head coach of the Minnesota North Stars from 1983 to 1985. External links
About Excelergy(R) Corporation Excelergy is a world leader in high performance software platforms that increase revenues, improve cash flows and reduce costs in the energy/utility industry and other restructuring value chains. Excelergy's highly flexible, scalable software systems automate forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care. They are based on an open, object-oriented, Web-centric, native XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. technology architecture. Winner of both the Red Herring Red Herring A preliminary registration statement that must be filed with the SEC describing a new issue of stock (IPO) and the prospects of the issuing company. Notes: 100 and UPSIDE Hot 100 awards for the world's top private companies, Excelergy has its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. headquarters in Lexington, Massachusetts, its European headquarters in London, England and its Asia-Pacific headquarters in Melbourne, Australia. More information is available at www.excelergy.com. |
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