Below is a media release that I recieved. Released by RZR today.
21 June, 2010
Razor Risk Technologies Congratulates Nodal Exchange on Innovation of the Year at Energy Risk Awards 2010
Sydney: Razor Risk Technologies (ASX: RZR), a leading Sydney-based provider of risk management technology and consulting solutions to financial institutions worldwide, congratulates Nodal Exchange on being named Innovation of the Year by Energy Risk magazine at their 14th annual Energy Risk Awards.
Nodal Exchange is the first exchange dedicated to offering locational (nodal) futures contracts and related services to participants in the organized North American electric power markets. All transactions on Nodal Exchange are cleared through LCH.Clearnet, the worlds leading independent clearing house.
LCH.Clearnet uses Razor, the award-winning risk management framework from Razor Risk Technologies, to deliver fast and accurate intra-day and end-of-day margin calculations for Nodal Exchange, whilst empowering LCH.Clearnet with a comprehensive risk software solution to monitor and manage the risk management of this important energy market. This includes the capability to calculate historical simulation Value-at-Risk (VaR), sensitivities, accurate stress testing of all member portfolios, and default management processing capabilities. All of which, combined with the engine at Nodal Exchange, delivers trade optimisation to market participants.
The Energy Risk Awards recognise excellence in the energy risk management marketplace and honour those demonstrating best practice.
We congratulate Nodal Exchange on this important award, said Richard Bennett, Unit President, Europe, Razor Risk Technologies. As a result of the growing complexity of energy markets, effective risk management and control has become a critical issue. Razor continues to innovate to keep pace with the increased performance, higher volume and breadth of risk analytics demanded by clients in all sectors.
RZR Price at posting:
2.7¢ Sentiment: LT Buy Disclosure: Held
