enymex sm is the Exchange’s e-commerce venture that is intended to become the premier global exchange for trading and clearing a wide range of standardized physical commodity contracts, with an initial focus in the energy market.
As the key element of their infrastructure solution, GlobalView Software is providing MarketView®, their new web-enabled product which provides an overall framework for market information integration, delivery, and display. MarketView will host the enymex sm trading and administration functions and will interface with and complement the Kiodex Trade EngineTM, the trade matching engine for the system.
The Exchange and GlobalView Software have further agreed to co-market GlobalView Software’s software tools and data services as enhancements to a basic set of tools that will be available to enymex sm participants. These products will provide extensive analytical functionality as well as access to a broad array of commodities market information to support enymex sm customers in their trading decisions.
enymex sm, which will be launched in the second quarter of 2001, will provide a neutral internet-based trading and clearing platform for energy and metals products that were previously limited to over-the-counter markets where participants are exposed to counterparty credit risk. The Exchange plans to use its proven clearing infrastructure to introduce complete counterparty risk management, and create net margining with traditional Exchange futures markets by calculating a consolidated clearing position.
Exchange Chairman Daniel Rappaport said, “In devising a business strategy for enymex sm, we determined early on that it was critical to draw upon technology partners as prominent in their fields as the Exchange is in the energy and metals arenas. In GlobalView Software and Kiodex sm, we are very proud to have selected progressive leaders in the fields of internet-based trading, risk management, and information distribution.”
Jon B. Olson, Chief Executive Officer of GlobalView Software, said, “We’re pleased to be a partner with the New York Mercantile Exchange, and to work with them toward their goal of being the premier online commodities exchange. We’re especially delighted that they have recognized the sophistication of our suite of internet-enabled software products and enterprise data management services and have chosen them as an integral part of enymex sm.”
GlobalView Software Inc., based in Chicago, Illinois, with offices in Houston, New York, London, and Singapore, is the industry leader in providing fully integrated real-time and historical commodities market information using the internet and PC-based systems. GlobalView Software Inc.’s products and services focus on helping customers optimize their use of information by integrating that information into their enterprise-wide solutions. In addition to its signature desktop/network product, GlobalView®, and its internet-based product, EnergyView™, GlobalView Software Inc. offers internet, intranet and portal solutions, data redistribution services, customized software development, and integration services, as well as extensive customer support and maintenance programs. For more information, visit www.gvsi.com.
The New York Mercantile Exchange is the world’s largest physical commodities exchange. It offers a trading forum for such strategic products as crude oil, heating oil, gasoline, natural gas, electricity, platinum, gold, silver, copper, and aluminium futures and options; propane and palladium futures; and options on the spreads between crude oil and heating oil and crude oil and gasoline, as well as certain stock index derivative products. In 2000, its trading volume totaled nearly 105 million contracts, with a notional value of approximately $3.2 trillion. Its internet home page is www.nymex.com, and additional information on its new system is available on www.enymex.com
Kiodex is a technology and services company that provides risk management and trading expertise to all commodity market participants through easily accessible web-based products. The company’s flagship product, the Kiodex Risk Workbench SM, is integrated into the world’s leading commodity transaction platforms, increasing the transparency of those markets by making risk management tools easily accessible. The Kiodex Trade EngineTM is a real-time order matching engine that will power enymex sm. For more information, visit www.kiodex.com.
