Miami (26 Feb 2002) – Kx Systems, leader in enabling firms to meet the challenges of acquiring, managing and analyzing massive amounts of business data at extremely high speeds, today disclosed that its kdb real-time database capability is an integral part of the technologies powering E-lecTrade’s unique Structured Energy Marketplace. E-lecTrade operates the world’s first online structuring desk for electricity transactions, which went “live” late last year. The E-lecTrade capability includes dynamic risk and proprietary real-time analytics as part of its service to commercial, industrial and financial buyers and sellers of electricity.
“Because our customers want to be able to negotiate complex, forward-looking transactions for structured electricity products both anonymously and quickly,” said Anil Suri, CEO of E-lecTrade, “kdb technology has proven to be an important element in the rapid handling of data, which contributes to reductions in transaction costs. By using kdb we are serving our customers significantly better than would have been possible with competing approaches to database analytics.”
Kdb’s fast time-series analysis, combined with efficient data management, provides an ideal platform to handle complex querying in real-time. With kdb, calculations such as value-at-risk can be performed almost instantly by or for E-lecTrade customers.
E-lecTrade selected kdb after Kx sales and consulting partner, Appian Corporation, delivered a one-week proof-of-concept to E-lecTrade’s own team of developers. Commenting on that initial engagement, E-lecTrade chief technology officer, Vivek Beri, said, “The benefits of kdb became apparent, and we promptly hired Appian’s consultants to help us implement our new system.”
“Kx is delighted to have E-lecTrade as a kdb customer,” said Janet Lustgarten, CEO of Kx Systems. “E-lecTrade’s system has unique needs, and our contribution of a faster approach to analytics helps them improve risk management for their electricity marketplace customers, thus providing an important new, more cost-effective capability to serve energy traders.”