News
IRM, an OpenLink Company, Launches Packaged Model for the Upcoming Open of the Turkish Power Market
Standardized model positioned to assist with easy, quick access to market, to be showcased at the ICCI in Istanbul next week
Vienna, Austria - June 13, 2011 – IRM, a leading solutions provider focused on trading, structured procurement management, optimization, and investment analysis and planning, today announced that it will launch a Fundamental Market Model for the Turkish market during the ICCI International Energy and Environment Fair and Conference in Istanbul, June 14-17, 2011. IRM introduces this new model so that Turkish energy traders will be well poised to take advantage of the new domestic day-ahead market which will start in December of this year. Together with its local partner ETRM, IRM stands prepared to meet the technology and implementation needs of market participants across this expansive and geographically diverse region.
Key elements that differentiate this technology from others is its ability to deliver standardized databases specifically for this market, while still giving market participants the flexibility to incorporate other asset classes and information to assist users in continually meeting the demands of changing and emerging energy markets globally.
IRM's Sales Director, Günther Mai, noted: "Our market model is set up to provide Turkish utility companies, market experts and analysts with a tool for fundamental price forecasting based on supply and demand optimization, which will put them in the ideal position to act quickly to the changing requirements of this region's new market. Our client-focused solutions are designed to meet the market standard and include flexible extension tools and capabilities to allow for the creation of customized or hybrid solutions to meet the specific needs of end users to trade or hedge."
"Turkey represents a large underserved region and is increasingly becoming a significant player in the global energy and commodities marketplace, and as a result, many of our clients have expressed an interest in expanding into this region," commented Markus Seiser, CEO of IRM. "OpenLink/IRM has continually supported the expansion goals of our clients in multiple ways: by opening offices and creating partnerships worldwide for regional support, understanding local conventions and nuances, and offering solutions that support multiple markets and asset classes across the global marketplace."
To learn more about IRM'S solutions for Logistics and Optimization in the Energy and Commodities market, please visit: www.irm.at/en
About IRM
IRM's system solutions are specifically tailored to the requirements of emerging and deregulated markets and support the operative business as well as strategic planning.
From structured procurement management (forecast, energy disposition, energy purchases/sales including schedule and balancing group management) to energy trading with portfolio/risk management (including complex risk and optimization functionalities) in the multi-commodity environment as well as in market modeling, investment analysis and planning.
IRM is a leading software provider for system solutions in the energy sector (electricity, gas, district heating, certificates, oil and coal). The company, which was founded in 1998 in Vienna, has more than 130 employees and more than 50 references in numerous countries.
About OpenLink
Founded in 1992, OpenLink is a provider of cross-asset trading, risk management, related operations processing and portfolio management software solutions for the commodity, energy and financial services markets globally.
OpenLink's client base of more than 350 customers worldwide includes 12 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York and with offices in New York City, Houston, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 1000 employees worldwide.
Press Contacts:
Ishviene Arora
Cognito
Phone: +1 646 395 6316
olf@cognitomedia.com
Marketing and Communications
OpenLink
Phone: +1 516 833 4509
