OpenLink, a leading provider of cross asset trading, risk management and operations processing software solutions, announced today it has selected Platts, a leading provider of energy and metals information, as a market data partner for OpenLink's web-based OnDemand trading and risk service.
Under the new OpenLink-Platts data agreement, OpenLink customers will leverage extensive energy commodity market expertise with a more complete suite of market prices, and direct access to Platts' full range of forward curve products covering oil, natural gas, electricity, coal and freight. Platts' forward curve products are independent, regionally-comprehensive and standardized forward price valuations accepted by the industry as the benchmark for valuing short and long-term physical and financial contracts. Access to Platts' real-time market data underpinned by rigorous quality and transparency protocols will allow OpenLink's banking, hedge fund and commodities trading customers greater precision in the mark-to-market and profit-and-loss reporting activities so central to their operations.
"OpenLink's trading and risk offering combines all the required asset classes, methodologies, technology, and data in a single solution to help our clients manage risk, make more informed financial decisions, and effectively meet their business objectives. The mission critical data component is enriched with the market prices and forward curve products from Platts," said Ken Knowles, Executive Vice President, Finance & Risk Solutions, OpenLink.
OnDemand provides a trading and risk management solution that integrates deal capture across all asset classes, valuation models, risk measurement, financial reporting, and market data, utilizing OpenLink's award winning Endur and Findur product lines. OnDemand's hosted solution mitigates the need for clients to invest in additional support and IT infrastructure. In addition, this service adapts to clients' complex needs, with the streamlined option to migrate the software to an internally deployed growth platform as the business requirements evolve, without having to change software vendors or products.
Commenting on the announcement, Kevin Hesselbirg, CEO, OpenLink said, "Platts brings both market know-how and well established processes that underpin price discovery and data integrity in our OnDemand product set. This is essential for our clients trading in today's commodity and energy markets, and we are pleased to welcome Platts as a key data partner for OpenLink."
"Platts is committed to expanding the suite of integrated workflow tools through which energy, risk management, and operations professionals may receive the Platts market data, news and pricing information they've come to rely on. OpenLink, with its expansive product offering and solid reputation, is a welcome addition to our global delivery network and will foster even greater efficiencies and competitive edge for our customers," said Victoria Chu Pao, president of Platts.