SOURCE: Parity Energy

Parity Energy

October 19, 2009 12:44 ET

Parity Energy and WhenTech Announce Availability of WhenTech Valuations on Parity Energy Platform

NEW YORK, NY--(Marketwire - October 19, 2009) - Parity Energy, a fast-growing marketplace with a focus on crude oil and natural gas options, announced today the availability of WhenTech Markets® real-time option pricing on the Parity Energy Platform (PEP). This powerful combination allows market makers to quote options on PEP faster and more safely than ever before. As a consequence, PEP customers obtain executable two-way markets within seconds of a request for quote. It has never been easier for the option trading community to enjoy the full benefits of electronic trading: transparency, firm prices and straight-through processing.

Since January 2008, Parity Energy has operated the Parity Energy Platform so that institutional clients can realize efficient price discovery and direct control of their orders in the crude oil and natural gas markets. Clients can either submit a request for quote for arbitrary option strategies or alternatively react to constantly streaming quotes. Both approaches result in competitive and firm markets. Clients need only a couple of clicks to trade. No subsequent phone call or instant message is required. As a consequence, clients enjoy superior price execution.

"We are very excited to provide our customers with the first commercially available trading platform integration of WhenTech's Valuation Service API," said Dave Wender, founder and CEO of WhenTech. "In less than two years, Parity Energy has developed a strong track record of bringing innovation and electronic liquidity to the OTC energy option marketplace. Given that a large majority of energy option market makers use our product, it makes a lot of sense for them to take advantage of WhenTech Markets' analytics directly through the Parity Energy Platform."

Charles Reyl, CEO of Parity Energy, said, "WhenTech has established itself as a leader in pricing and risk management for the option trading community. The ability to invoke WhenTech real-time option pricing directly from the Parity Energy Platform brings enormous value to market makers and by extension to all PEP market participants. We are very pleased with the high level of technological cooperation and look forward to a very successful relationship with WhenTech."

About Parity Energy

Parity Energy, which was recently voted Best Newcomer of the Year by Energy Risk in its 2009 Energy Risk Awards, owns and operates the Parity Energy Platform (PEP). PEP is an electronic marketplace supported by a highly-rated voice brokerage for OTC energy derivatives and adopted by 100 leading institutions across a number of energy markets. Parity Energy helps energy producers, consumers, banks and hedge funds gain access to the deep liquidity of the OTC markets, exercise robust control of their orders and implement straight-through processing. Learn more about Parity Energy at www.parityenergy.com.

About WhenTech

WhenTech is a leading provider of technology, software and information services to the commodities industry, including traders, brokers and various exchanges throughout the world. Through its core pricing and risk management software, WhenTech Markets®, the Company is truly defining "The Future of Options®". WhenTech is headquartered in New York City, with on-site customer support offices at NYMEX and, coming later this year, at CME/CBT in Chicago. Learn more about WhenTech and take a tour of WhenTech Markets® at www.whentech.com.

Contact Information