HVAC Breaking News

Excelergy And Algorithmics Combine For Advanced Energy Trading And Risk Management System

LEXINGTON, MA and TORONTO, ON, Canada — Excelergy Corp., a provider of software products for the energy industry, and Algorithmics Inc., a provider of enterprise risk management software, have announced a strategic alliance that will deliver an advanced energy trading and risk management system to energy traders and generators.

“Algorithmics is known in the financial and energy industries for its risk management expertise and accuracy. Excelergy is known for its energy sector expertise in automating vital business processes like trading, scheduling, and settlement. Together, our best-of-breed products will present energy companies with a single view of risk across their entire enterprise, which will enable traders and generators to make the best decisions possible,” said Michael Zerbs, chief operating officer of Algorithmics.

Excelergy will integrate its Excelergy Energy Trading™ product, which provides straight-through processing of trading, scheduling, and settlement business processes, with Algorithmics’ Algo Energy™, which delivers physical and financial risk management from modeling market, credit, and liquidity risk to generating forecasts, analysis, decision support, and reporting.

“Together, our products will provide an unprecedented enterprise view of risk, encompassing not only market and counterparty volatility, but also visibility into physical assets and retail portfolios,” said Bill Mahoney, Excelergy’s president and chief executive officer. “We feel this is a rock-solid alliance, one from which our current and future wholesale clients will benefit tremendously.”

Publication date: 02/11/2002

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