30 Sept 2002: OM Unveils XML-Based Condico Energy Markets Software

OM, a provider of transaction technology to the financial services and energy industries, has launched Condico, a transaction system aimed at supporting deregulated energy markets.

Condico consists of a set of modular subsystems, designed to provide an efficient and easy-to-use trading platform. The system allows spot and derivative energy products to be traded in one place.

Functionality includes real-time trading, matching and information dissemination through to clearing and settlement. The system also allows market participants to connect trading, analytical and back-office applications via the Condico open API, which is based on XML.

Ulf H. Lidman, president of energy market solutions at OM, said: “The solution provides energy marketplaces with a cost-effective and flexible trading platform, that can be expanded in line with business growth, both in terms of capacity and investment.”