FNX enhances Sierra system to support energy contracts

Source: FNX Solutions

FNX SOLUTIONS (FNX), a leading provider of next generation technology solutions for treasury and capital markets, announced today that its flagship trading and processing platform, Sierra Solution, has been enhanced to process and clear energy contracts on the NYMEX and ICE exchanges.

Sierra's latest enhancements help customers to efficiently clear complex energy and electricity contracts and reduce manual processes for daily power futures, weekly and monthly averaging power futures, monthly variable contract amount futures and off-peak monthly variable contract amount options transactions.

Support extends STP from deal booking and position management, to automated transaction processing and accounting entry generation, resulting in a lower cost per transaction.

"As the volume in energy trading keeps growing, our clients require integration of their trading and operations systems. Our Sierra Solution provides energy traders with the benefits of a truly STP system that not only cuts down on human errors in transaction data processing, but also allows traders to get a better handle on their physical and financial positions in volatile markets," said Jim Dennelly, Sierra System's President.

FNX is currently expanding Sierra’s energy offering by delivering capabilities for the cascading contracts traded on the EEX exchanges by Q2, 2006.

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