TruMarx Data Partners Launches COMET Transaction Support for the LNG Market

News provided by

TruMarx Data Partners, Inc.

Jan 12, 2016, 08:00 ET


Chicago, Illinois (PRWEB) January 12, 2016 -- TruMarx Data Partners, Inc., the creator of COMET, the energy industry's innovative on-demand platform for custom, confidential bilateral transactions, today announced the expansion of COMET to facilitate transactions in the Liquefied Natural Gas market (LNG)---now available on a global basis. The service includes the ability to originate LNG tenders.

COMET’s new capability to facilitate LNG transactions and tenders allows users to:

  • Create complex transaction structures with specific export and import terminals
  • Define precise cargo details using mass, volume or energy units – including tolerance bands and min/max gross heating values
  • Optimize pricing using fixed or indexed prices from all the major benchmarks, including slope and adders.
  • Utilize attachments to manage documents between the originator and suppliers.

"We are excited to introduce COMET to the LNG market and also offer the origination of LNG tenders. It will allow LNG traders in this growing energy category to enjoy the tremendous benefits that COMET provides”, said Jon Olson, Founder and CEO. “Many of our existing customers in other asset classes also transact in the LNG market. They asked for this platform extension and we are excited to deliver”.

COMET offers a wide variety of benefits to LNG market participants such as:

  • No standardized contracts. All transaction terms are customized by the user, tenders or cargos
  • 280+ companies now access COMET in North America, including over 60 LNG market participants
  • Completely confidential, bilateral negotiation and execution process
  • No cost to own, implement or use COMET; only parties to a successful execution owe transaction-based fees
  • Confirmations, trade capture and full audit trail provided for deal documentation and straight through processing into other systems
  • Adjacent services available to help users address other challenges around the transaction (price discovery, logistics, transaction facilitation, etc.)
  • Transaction facilitation performed by Market Advocates dedicated to COMET subscribers
  • Intuitive and easy to use

Detailed information on the new LNG capability for COMET is available on the company’s website at http://www.trumarx.com , email at info(at)trumarx(dot)com, or by phone at +1-312-286-1809.

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 thirty 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 or call 1+312-286-1809.

Media Contact

For all media inquiries, contact:

Greg Crosby
Chief Marketing Officer
(319) 621-2424
gcrosbytrumarx(at)gmail(dot)com

Jon B. Olson, TruMarx Data Partners, Inc., http://www.trumarx.com, +1 (319) 621-2424, [email protected]