Cinergy adopts Triple Point gas trading software

Cincinnati-based Cinergy already uses Gas XL’s sister product Power XL for its over-the-counter power trading activities. Both offerings are enterprise-wide services that streamline supply chain operations and perform risk management functions.

“Gas XL will do for our gas operations what Power XL has done for our power business, with the added benefit of cross-commodity risk reporting and economy of scale efficiencies in the back office,” said Michael Cyrus, chief executive of Cinergy's energy merchant business unit.

Both systems are based on a Java, web-enabled technology platform designed to offer fast processing for real-time valuation and position reporting for large volumes.

Gas XL supports all physical and financial gas trading activities, including swaps, operations, futures, physical forwards, structured deals and full requirement supply contracts.

The financial terms of the deal were not revealed.

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Next-generation technologies and the future of trading

At a webinar in association with capital markets technology provider Numerix, panellists discuss the potential for increased adoption of the public cloud to boost investment performance, its impact on risk management and overcoming barriers to…

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