Sakonnet teams up with enerbility

Sakonnet has formed a new partnership with enerbility, the leading provider of electronic confirmation systems (ECMS) for European energy traders. The collaboration will see the integration into Sakonnet’s energy trading and risk platform, Xenon®, of enerbility’s ECMS.

enerbility allows automated matching of electronic confirmations generated by pairs of counterparties to OTC power trades in Europe. If a set of confirms on a trade do not match, an exception notice is sent to the relevant back offices for review. This lets staff focus on resolving the rare exceptions, rather than reviewing hundreds of correct confirms.

Xenon and enerbility’s application will be linked via an XML interface. Because enerbility software is completely compatible across the market, it will allow a user to match his own confirm with one from either another ETRM application or a third-party ECMS.

“enerbility does a great job of freeing up users’ time for value added tasks,” explains Thurstan Bannister, CEO of Sakonnet. “This helps complete the straight-through processing (STP) chain, and we anticipate strong productivity gains for trading floors using the Xenon platform with this extension.”

Xenon captures trades in power, natural gas, crude oil, refined products and emissions credits – along with interest rate and FX hedges. It covers exchange and OTC instruments for these markets, including financial and physical forwards and options, and capacity and transmission trades. Sakonnet offers Xenon on a hosted basis or as an in-house solution, and is continually adding new functionality via both its own software development and integration with technology partner software.

“We are delighted to enter this partnership with Sakonnet”, stated Hannes Stiebitzhofer, principal and co-founder of enerbility, “because through it we can streamline the trade process and create higher ROI for our joint clients.”


About Sakonnet Technology
Sakonnet Technology was founded in 1999 by technologists previously at JP Morgan. Sakonnet since then has been solely focused on the wholesale energy markets and the development of Xenon™, its Java-based energy trading and risk management system. Sakonnet offers Xenon™ on a unique subscription-based, hosted model, which enables clients to avoid up-front capital costs and separate maintenance and upgrade fees. The service can be expanded and new product functionality added easily with minimal administration costs. Sakonnet now employs 70 people and has offices in London, New York and Rio de Janeiro.

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