NEW YORK, May 10 /PRNewswire/ -- SunGard Trading and Risk Systems, an
operating group of SunGard (NYSE: SDS), today announced that its Epsilon
solution for real-time, straight-through energy trading, risk management and
scheduling has been enhanced to support the New Electricity Trading
Arrangements (NETA) requirements imposed by U.K. gas and electricity
regulators.
Compliance with NETA is mandatory for all companies that trade electricity
and power in England and Wales, with Scotland expected to adopt the
regulations in 2002. NETA was established by the Office of Gas and Electricity
Markets (Ofgem) to prevent the abuse of the POOL, the method that generators
and suppliers use to buy and sell electricity in the U.K. Electricity
companies in the U.K. believed that generators used the POOL to set
electricity prices above a fair market value. Ofgem is jointly leading the
NETA program with the UK government's Department of Trade and Industry.
SunGard developed support for NETA in its Epsilon product for its UK-based
clients, which include Aquila Energy UK, a five-year client of Epsilon that
had been searching for a NETA-compliant solution.
Paul Borrett, senior IT manager at Aquila, said, "Epsilon is very easy to
use. We need only enter power trades once, and it takes care of notification
and nomination with no further intervention on our part. Trade entry is
straight-forward, since Epsilon allows traders to enter and view all their
trades in the time zone of their choice and then converts them to British
local time for a real-time solution."
Mr. Borrett continued, "The UK switched over to NETA rules at 11:00 p.m.
on March 26, and since then Epsilon has been remarkable for its accuracy, its
consistency and its robustness in the face of third party errors and
communications disruptions -- characteristics especially noticeable in the
first few turbulent weeks of trading. Tools in Epsilon provide for quickly
identifying the sources of discrepancies."
Scott Olle, president of SunGard's Energy operating unit, said, "At
SunGard, we pride ourselves on our commitment to being at the forefront of
industry initiatives like NETA and of technological innovations such as
straight-through processing and XML-compliance. We are confident that our
innovative solutions will continue to meet the satisfaction of our current and
future clients."
Epsilon's real-time support for trading and risk management of energy
financial and physical instruments also includes confirmation generation,
back-office invoicing and accounting. Epsilon uses energy focused
'best-practice' risk methodologies including value-at-risk, scenario analysis
and credit VaR. Full support for power and physical gas trading is offered as
separate, but tightly integrated modules for a complete straight-through
processing solution. Epsilon is developed and marketed by SunGard Trading and
Risk Systems, which also offers expert professional consulting and systems
integration services for Epsilon.
About SunGard Trading and Risk Systems
SunGard Trading and Risk Systems provides integrated, enterprise-wide
solutions for financial trading, risk management and operations, as well as
asset liability management and financial planning and forecasting. Serving
over 500 clients, it offers Web-enabled solutions for achieving
straight-through processing, and for managing market, credit and operational
risk. Clients include banks, broker/dealers, asset managers, hedge funds,
corporate and government treasuries of every size, geographical reach and
operational complexity. For energy companies, SunGard Trading and Risk
Systems provides trading, risk management and commodity scheduling software
solutions.
About SunGard
SunGard, is a global leader in integrated IT solutions and eProcessing for
financial services. SunGard is also the pioneer and a leading provider of
high-availability infrastructure for business continuity. With annual
revenues in excess of $1 billion, SunGard serves more than 10,000 clients in
over 50 countries, including 47 of the world's 50 largest financial services
institutions. Visit SunGard at http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Epsilon are
trademarks or registered trademarks of SunGard Data Systems Inc. or its
subsidiaries in the U.S. and other countries. All other trade names are
trademarks or registered trademarks of their respective holders.
SOURCE SunGard Trading and Risk Systems
 back to top
Related links:
http://www.sungard.com
Company News On-Call:
http://www.prnewswire.com/comp/115467.html or fax,
800-758-5804, ext. 115467
CONTACT:
Sally Clarke, 44-207-337-1018, fax,
44-207-337-6010, or sally.clarke@risk.sungard.com, or Adriana
Senior, 212-317-7489, or fax, 212-223-0220, or
adriana.senior@risk.sungard.com, both of SunGard Trading and Risk
Systems
|
