OpenLink Financial, a provider of cross-asset trading and risk management services, has entered into a joint venture agreement with MCG Energy Solutions, to allow their clients to streamline electricity business processes in one system.
OpenLink’s Endur system, in partnership with MCG, is expected to provide traders and risk managers with up-to-the-minute market information about energy transactions, international organization for standardization (ISO) deals, North American Electric Reliability Council 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, said OpenLink.
Mike Prickett, president of MCG, said: This joint venture creates tremendous opportunity for us and our clients who will benefit from the combined intellectual capital, market intelligence and product capability of MCG and OpenLink. MCG and OpenLink are similar in their focus on product development, customer satisfaction and retention as a means to foster incremental growth, and together we are confident that both companies will provide incremental value to our clients through this new joint venture.
