Tata Power Trading takes SunGard's ZaiNet for confirmations process

Source: SunGard

Tata Power Trading Company Limited (Tata Power Trading), part of the Tata Group of companies, has selected SunGard's ZaiNet to help it streamline and automate its power trading operation and support its plans for continued growth in India and beyond.

Tata Power Trading says it selected SunGard because of its global experience in power markets and ZaiNet's ability to be configured to the unique requirements of the Indian energy market. Integrated with the new India Energy Exchange (IEX), SunGard's ZaiNet will support Tata Power Trading's operations on the exchange as well as its bilateral trading with counterparties in India.

India's power industry today reflects the steady movement from deregulation to competitive markets introduced through the 2003 passage of the India Electricity Act. It continues to evolve and benefit from the introduction of Open Access in 2004, which set the stage for competitive trading, and the June 2008 opening of India's first national-level power exchange. Tata Power Trading plays a lead role in bridging the supply and demand gaps of utilities by buying and selling electricity across the length and breadth of the country, and is experiencing rapid revenue growth.

ZaiNet will support Tata Power Trading's sustained growth by helping to automate and consolidate its confirmation process, which Tata Power Trading has identified as a limiting factor to its growth due to its reliance on multiple, disparate confirmation systems. ZaiNet will also help Tata Power Trading gain better controls through audit and reporting capabilities.

"Tata Power Trading has been at the forefront of power trading in India since its inception in 2004 and our business is experiencing a compounded growth rate of over 100% from 76 million units in 2005 to over 1700 million units in 2008. This growth of our trade volume necessitates that we fully automate our trading activities," said Mr. Amulya Charan, managing director of Tata Power Trading. "We chose to support our growth with SunGard's ZaiNet because of its global application in power markets, and flexibility to adapt to the rapidly evolving energy market in India."

Matt Mandalinci, president of SunGard's energy solutions business unit, said, "With over 2,000 SunGard staff in India, 125 of which are devoted exclusively to SunGard's energy solutions business, we are excited to enter the power trading market in India with Tata Power Trading. SunGard ZaiNet's flexibility delivered through its configurable risk and calculation engine with an SOA, integration to the IEX, and front-middle-back office integration will help Tata Power Trading to optimize its energy business and support its growth."

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