New York, NY, September 24, 2002 — OM, a provider of transaction technology, has announced the availability of its POMAX family of transaction management solutions to facilitate compliance within the electric power utility industry to the Federal Energy Regulatory Committee’s (FERC) Standard Market Design (SMD).
“POMAX Settlementà¢â€ž- from OM enables transmission providers and market operators (ISOs, RTOs, ITPs, PXs) to financially settle LMP-based electricity auction markets according to FERC SMD rules,” says Chris Crosby, Senior Vice President, Energy Markets, OM.
“POMAX Administratorà¢â€ž- provides market participants – including large loads, generators, retailers, scheduling coordinators, investor owned and municipal utilities – with the ability to manage their energy transactions in an SMD marketplace.”
POMAX Administrator provides broad functionality, including deal capture, risk management, scheduling, meter data management and full shadow settlement calculation.
“OM believes the stability promised by FERC’s SMD will be preceded by constantly changing market rules as markets become SMD compliant,” says Dariush Shirmohammadi, Vice President, Business Development and Solutions Consulting, OM. “We also expect that SMD rules will undergo considerable change in the first several years of operation, necessitating the need for related transaction management systems to be highly configurable.”
OM is a provider of transaction technology to the energy, commodity and financial services markets. OM Energy Markets can be reached at www.om.com/energy/northamerica.