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News
Room.....
13th
October 2005
“Mal
Campbell, UtiliSolutions Managing Director,
has announced the signing of Optiver Australia
as the first client for the UtiliTrade energy
trading software product. The UtiliTrade
product is a unique product offering that
allows clients to trade in the wholesale
physical, financial and retail energy markets.
Optiver
selected UtiliTrade as its preferred platform
for progressing its electricity trading
business due to the cost effective nature
of the UtiliSolutions offering incorporating
a fixed price fee for software licensing
and implementation. Optiver will deploy
the UtiliContract, UtiliRisk, UtiliProfile
and UtiliPrice modules in its electricity
trading operations where UtiliSolutions
will provide customised risk, pricing and
reporting functionality tailored to Optiver’s
needs.
The
UtiliTrade system will be linked to Australian
National Electricity Market, market rates
and weather data information feeds to provide
a dynamic operating tool for Optiver.
Mal
Campbell believes that UtiliSolutions market
expertise and its ability to offer fixed
price implementation, as part of its risk
and pricing customisation offering, differentiates
it from many of its competitors where high
implementation costs associated with software
product offerings are often not all that
transparent to clients. These implementation
costs can actually exceed the upfront licence
costs. In addition the architecture used
by UtiliSolutions is extremely efficient
in the handling of the large data quantities
that are part of energy trading markets
which means that the UtiliTrade product
can be deployed on lower cost hardware and
with lower database software licensing fees.
The architecture also allows UtiliSolutions
to provide solutions for the European, Asian
and US electricity markets and the company
has started negotiations on entering into
those markets.
Optiver’s
Head of Energy Trading, Dave Goldin said
that the Australian market will be the initial
development front for Optiver’s potential
deployment of global energy trading operations
and it was imperative that the Australian
business was able to be supported by a platform
that allowed Optiver to implement its own
unique market trading approach. Optiver
has tended to develop its own proprietary
software systems in other markets but the
UtiliTrade product meets all of Optiver
Australia’s requirements including rapid
implementation, with the software product
due for implementation in December 2005
less than 3 months after Optiver’s decision
to proceed with UtiliSolutions."
For
further information:
Mal
Campbell
UtiliSolutions
Ph: +61 2 65837412
Mob: +61 408652335
Dave
Goldin
Optiver Australia
Ph: +61 2 93334062
Mob: +61 413805666 
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