September 29, 2008
Parity Energy Announces the Launch of Its Latest Iteration of Online Trading for Energy Derivatives, Parity Energy Platform 3.0
Parity Energy is proud to announce the latest iteration of its online marketplace for trading energy derivatives, Parity Energy Platform (PEP) 3.0. As volatile markets continue to demand greater transparency and pricing control, PEP provides clients with open access to all quotes and unparalleled control of order management. Moreover, an increasing number of energy participants are recognizing the need to reduce their exposure to credit risk due to bilateral transactions. PEP addresses this need by settling all trades using a client-designated clearinghouse such as NYMEX Clearport or ICE Clear.
In its continuing effort to better serve its clients, Parity Energy has updated PEP with a number of innovative features including an improved trade order page, a broader range of supported contracts and, for the first time, a means for clients to access PEP directly using their existing order management system through a FIX Application Programming Interface. "PEP 3.0 represents a significant advance in bringing online trading to the OTC option markets," says Charles Reyl, Parity Energy's CEO.Parity Energy owns and operates a leading edge online marketplace and voice brokerage for OTC energy derivatives. As financial institutions continue to adopt electronic trading and sophisticated risk management, fast growing Parity Energy provides unique electronic access to the deep OTC energy options markets combined with the financial security of clearing on all major clearinghouses. Its customers include energy producers, consumers and marketers, hedge funds, investment and commercial banks, and floor traders.
Interested participants should contact Alan Backman, Parity Energy (646 867 1992, [email protected]).
Contact: Alan Backman Parity Energy 646 867 1992 Email Contact
SOURCE: Parity Energy