Uniondale, NY, March 4, 2009 — Open Link Financial Inc. (OpenLink), a provider of cross-asset trading, risk management and related operational, portfolio management and optimization software to worldwide companies in the global energy market, announced that it has entered into a joint venture agreement with MCG Energy Solutions LLC (MCG), a provider of power scheduling systems that meet North American Electric Reliability Council (NERC) e-Tag, Open Access Same-Time Information System (OASIS), and ISO communications requirements for electricity markets.
Openlink hopes the partnership with MCG will allow their clients to streamline their electricity business processes in one system. OpenLink’s Endur solution, in partnership with MCG, will be used to provide traders and risk managers with current market information about energy transactions, ISO deals, NERC e-Tags, and transmission reservations. The framework will help clients capture purchases and sales of electricity, fuel, and emissions credits, show risk across multiple scenarios that affect forecasting and profitability, reserve transmission, schedule and tag power, submit bids, track positions, perform settlement reconciliation, track costs, and post to sub-ledger accounts.
OpenLink and MCG intend to provide integrated end-to-end solutions in trading, risk management, and logistics for managing the utility ISO/RTO life cycle by combining a comprehensive integrated risk accounting and compliance reporting solution with traditional solutions for managing physical trading and scheduling.
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