SAKONNET TECHNOLOGY ADDS POWERFUL CREDIT FUNCTIONALITY
WITH XENON™ 3.3
New York, 2 April 2002 – With counterparty default an increasing concern in the energy industry, Sakonnet Technology, a leading energy trading software and services provider, has added powerful new credit risk functionality to the latest release of its flagship Xenon software.
Xenon 3.3 offers multiple tools to measure and monitor credit exposure. Clients can track exposure by product group and tenor with customized configurations that fit their internal monitoring requirements.
“This new credit functionality combines powerful analytics with the ability to tailor those tools to clients’ specific needs,” said Ian Clarke, Sakonnet’s director of product strategy for the Americas.
Xenon allows exposures to be measured by mark-to-market and notional amounts, and time horizon, with groupings by product and counterparty, aggregated according to user-defined netting rules. Counterparty definitions include hierarchical relationships so that exposure can be rolled up into parent company totals.
Product group definitions are completely flexible and user definable, so that groupings can be either general, such as over-the-counter trades, or very specific, such as swaps on natural gas in a particular region. Reporting on subgroups, such as peak power is also supported. Notional exposure can be weighted according to user-defined rules. All exposures are compared to these defined credit limits, and any limit violations are highlighted.
Credit exposures can be run quickly from the Dashboard, Xenon’s main user interface, and work in tandem with all other Dashboard functions, including pricing- and volatility-shift scenarios or with a subset of counterparties or trades. Credit also can be checked at the trade-entry level, allowing traders to see what the effect of a proposed trade will be before it has been booked.
Xenon 3.3 also provides detailed reports showing the contribution to credit exposure by trade, and displays a graphical representation of exposure over time, showing notional exposure by day or by week.
In addition, the latest release of Xenon includes a new ad-hoc Dashboard, which allows users to see position and profit-and-loss summaries based on user-defined queries across their entire database of trades. To support the new ad-hoc Dashboard, Sakonnet has enhanced Xenon’s trade query screen with support for "and/or" inquiries and formula queries, giving users greater flexibility when valuing their books.
About Sakonnet Technology
Sakonnet Technology is the market leader in Software as a Service (SaaS) for energy trading and risk management. Sakonnet's expert international teams provide an unrivalled level of hosting, support, upgrade and consulting services linked to its advanced Xenon® platform. These services along with Xenon's streamlined interfaces and workflow, transform the end-user experience, resulting in higher productivity, stronger risk control and a trading edge. Sakonnet addresses the needs of energy companies, banks and hedge funds trading in power, natural gas, crude oil and related markets and has offices in New York and London.
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