âThis implementation marks the largest pipeline company implementation of FUTRAKÂ® to date and is a true testament to the flexibility of our leading FAS133 software product,â said Richard W. Kulaszewski. âONEOK knew what they needed for their transportation hedge accounting, and FUTRAKÂ® was able to handle their specific business requirements elegantly.â
Headquartered in Tulsa, ONEOK is among the largest natural gas distributors in the United States, serving more than 2 million customers throughout Oklahoma, Kansas, and Texas. The Fortune 500 company is also the general partner, owning 45.7 percent of ONEOK Partners, L.P. (NYSE: OKS), one of the largest publicly traded limited partnerships and a leader in the gathering, processing, storage and transportation of natural gas in the U.S., owning one of the nation's premier natural gas liquids systems, connecting much of the natural gas and NGL supply in the mid-continent. ONEOK's energy services operation focuses primarily on marketing natural gas and related services throughout the U.S.
FUTRAKÂ® is the leading energy and commodities FAS133 software solution that can be uploaded from ETRM systems to perform complex effectiveness testing and FAS133 accounting.
FUTRAKÂ® was developed by INSSINC, which specializes exclusively in FAS133 and IAS39 solutions. Founded in 1983, the company maintains a staff of highly experienced consultants and systems professionals, who are experts in trading, operations, and accounting. INSSINC also recently released a module for FAS157 accounting and the associated disclosures.