COMET Now Supports Pre-Trade Anonymity and Offers Powerful New Confirmations Capabilities
Chicago – April 5, 2016 – TruMarx Data Partners, Inc., the makers of COMET, the leading cloud trading services platform, today announced a powerful new software release. The new version of COMET delivers enhanced capabilities designed to further streamline and simplify the entire lifecycle for complex OTC energy commodity transactions.
The new COMET features include:
COMET’s new pre-trade anonymity feature enables users to originate a transaction without revealing their identity to potential counterparties. This enables energy procurement professionals to create a “white list” of pre-vetted potential trading counterparties and to shop transactions without revealing their identity until the transaction is consummated. This enables organizations to maximize their reach to counterparties without exposing their trading strategy, giving them a powerful competitive advantage in today’s dynamic energy markets. COMET’s pre-trade anonymity feature will be especially attractive in certain emerging markets, such as biofuels and RINs, and will provide further flexibility in the more mature gas and power markets.
COMET’s powerful new Confirmations application delivers a standardized, auditable legal confirmation following the execution of every deal. Regardless of the complexity, especially in markets such as LNG or biodiesel where transactions often require complicated terms and instructions, COMET captures every aspect of the trade in its entirety. COMET Confirmations enables users to enhance trade accuracy, reduce regulatory and administrative overhead and leverage actionable trading intelligence through:
• Creating a central information repository that serves as a definitive trade confirmation for both parties, speeding dispute resolution and ensuring adherence to negotiated terms
• Leveraging this same data to satisfy internal governance and regulatory compliance initiatives
• Providing automated feeds to risk management, enterprise and third-party systems
• Eliminating the need for and expense of outside confirmation services and
• Delivering centralized reporting for price indexes such as Platts and Argus
The new COMET release is immediately available to all subscribers.
Said Jon Olson, CEO of TruMarx, “We are excited to deliver this new release of COMET to the energy commodity marketplace. We believe that these new capabilities will help our customers enhance trading efficiency and promote liquidity and growth in emerging energy markets.”