"Jim is the right leader for the TruMarx Board at this important stage in our evolution," said Jon Olson, co-Founder and CEO.
Chicago, Illinois (PRWEB) September 10, 2014
TruMarx Data Partners, Inc., the creator of COMET, the energy industry's innovative on-demand platform for custom bilateral OTC transactions, today announced that Dr. James Newsome has been named Non-Executive Chairman of the Board.
Dr. Newsome, a recognized expert in trading, markets, and public policy, is a respected business leader who brings more than 25 years of exchange, trading, and strategic management experience to TruMarx.
"Jim is the right leader for the TruMarx Board at this important stage in our evolution," said Jon Olson, co-Founder and CEO. "From the time Jim became a Board member and investor, I have valued his input and counsel and I am pleased he will help steer our strategic direction. We are fortunate to have Jim on the TruMarx team and I am confident his expertise and knowledge will benefit our company.
"I am excited about my new role and look forward to working more closely with Jon and the TruMarx Board to enhance our existing business and create new opportunities for the future," said Dr. Newsome. "It is a pivotal time with the energy transaction markets evolving from a technology and regulatory standpoint, and I believe our COMET platform is positioned to provide solutions for the changing needs of today’s energy industry."
Dr. Jim Newsome was nominated as a CFTC Commissioner in 1998 and in 2000, under President Bush, he was confirmed as its Chairman. In 2004 he left federal service to become President and CEO of the NYMEX, where he led the transition to electronic trading and took them public. Jim oversaw the merger of NYMEX with the CME creating the world’s largest futures marketplace. Currently he is a partner at Delta Strategy Group which provides a variety of services such as political strategy, lobbying, and business development.
About TruMarx Data Partners
Headquartered in Chicago, TruMarx Data Partners, Inc. is an experienced team of energy professionals with an established track record in delivering powerful technology solutions for today's energy market challenges. Led by Jon B. Olson, a twenty-five year veteran CEO in the energy markets, the core team has been together for nearly 20 years, developing successful software products, data solutions, and custom projects for energy customers around the globe. Using the internet as a delivery system and employing an open architecture, the team specializes in the connection of large communities of transactors via web-enabled software tools and the normalization of complex proprietary transactional data, so that disparate counterparties all speak the same "language".
In addition to winning multiple awards for software innovation and data management, the TruMarx team has helped hundreds of energy market participants, such as exchanges, brokers, producers, consumers, and industry associations, achieve operational efficiency and market leadership.
For more information on TruMarx or COMET, visit http://www.trumarx.com.