HOUSTON, TX, April 11, 2002. OpenLink, an industry leader in energy and financial trading and risk management software solutions, has licensed Endur(TM) to American Electric Power (AEP) as the principal risk management tool for its North American energy trading and marketing activities.
"After a thorough due diligence process, Endur emerged as the system solution that best addressed our complex and challenging selection criteria," said Steven Appelt, AEP Energy Services’ executive vice president of administration. "As the largest U.S. power generator, and one of the top gas and power marketers in North America, we have extremely demanding risk management requirements. OpenLink provides what we need – an integrated multi-commodity solution with the most robust risk management framework, real-time position management capabilities, and a market-leading service track record. We are also pleased with Endur’s ability to integrate with our proprietary trading applications."
AEP plans to implement Endur at its two North American trading centers in Columbus, Ohio and Houston by the end of 2002. The first phase of the project, AEP’s U.S. coal trading book, was completed in approximately two months. Natural gas, power and emission implementations will follow.
"We are very pleased to welcome AEP to the OpenLink family, a growing and dominant roster of top-tier energy clients," said OpenLink founder and CEO Coleman Fung. "Being chosen to support AEP’s leading positions within the energy markets, we have once again demonstrated that Endur with its open architecture is the only adaptive trading and risk management solution specifically designed for the most advanced and sophisticated energy trading firms. Our industry-leading service record – the way we take care of, listen to and work with our customers – also played a key role in AEP’s decision."