Openlink, an ION Investment Group company and global leader in trading, treasury and risk management solutions, announced a partnership with Powel AS on the 5th of April, 2018. The goal is to addresses the growing need for sophisticated algorithmic (algo) intraday trading and gas and power scheduling capabilities across European energy markets. Powel is a leading supplier of software and services to the energy business, utilities, and providers of critical infrastructure services.
Through the partnership, clients can tap the enhanced value of Endur, Openlink’s energy trading and risk management (ETRM) platform, working in concert with Powel’s Intraday Trading and DeltaXE power and gas scheduling solutions. Openlink and Powel’s collaboration stems from seismic shifts in the European energy industry, as demand for renewable energy grows, and intraday, cross-border trading of electricity and gas requires the speed and accuracy of algo trading methods.
Openlink and Powel will join forces on client engagements to align product capabilities and systems integration processes, bringing highly complementary energy industry expertise and related professional services to each project. Together, they aim to reduce clients’ total cost of ownership (TCO), streamline workflows, accommodate changing regulations, and accelerate implementation timeframes.
Stefan Zähringer, general manager at Powel AG in Switzerland, said “Every client seeks to increase speed and automation in their daily power and gas short-term trading business. Powel’s partnership with Openlink is a natural fit. Openlink provides the best-in-class ETRM solution. Powel’s automatic scheduling solution addresses the complexity of physical markets and our algorithmic Intraday trading solution speeds up performance and provides flexibility with a white-box approach.”
Openlink and Powel share relationships with top-tier energy companies and mid-market players, collaborating on projects with clients who have already implemented the combined product set and see measurable improvements in trading and scheduling efficiency and accuracy. Standardization and automation of the combined solution set removes a significant maintenance burden for clients.
“Openlink is excited to work with Powel after extensive review of the market. Our combined product set helps clients extract significant business value from their trading and scheduling operations,” said André Jäger, senior vice president of product management at Openlink. “We also share a vision for how power and gas companies can competitively position themselves for the future”.