NEW YORK (September 24, 2002) - FAME Information Services Inc., the leading provider of data management and decision-support solutions for trading and risk management, today announced that for the third time running, FAME's Energy Data Services has been granted Ernst and Young's cyber certification for advanced daily data quality services. This independent audit reaffirms FAME's achievement in, and commitment to, the distribution of superior energy market data.
The importance of reliable, accurate and timely market data, especially to any business related to energy commodities, has been particularly illuminated by Enron's collapse and the subsequent scrutiny by regulators of energy companies' trading activities. Commodity prices play a crucial role in revenue and profit margins such that errors in a single commodity price are easily multiplied by large trading exposures into huge potential losses.
"The fact that FAME is the first and only energy information provider whose data services have been granted the independent cyber certification by Ernst and Young is a unique distinction in this market" stated Emma Garvey, Data Product Manager, FAME. "The combination of consistently reliable, quality checked data with our industry leading decision support applications enables customers to better manage their risk and ultimately generate greater returns."
Ernst & Young granted the cyber-certification to FAME's Energy Data Services, which currently aggregates and delivers close to 50 global energy market data sources, covering oil, power, gas, weather and petrochemicals in a single feed.
DoubleCheck T, a suite of data quality initiatives, enhances FAME's Energy Data Services and underscores FAME's commitment to data quality. It includes the Ernst & Young cyber certification, FAME's Data Quality Service Model, Data Comparison Service and InsideTrack.