Tata Power Trading selects SunGard's ZaiNet to automate power trading
Tata Power Trading reportedly selected SunGard because of its global experience in power markets and ZaiNet's ability to be configured to the unique requirements of the Indian energy market. Integrated with the new India Energy Exchange (IEX), SunGard's ZaiNet will support Tata Power Trading's operations on the exchange as well as its bilateral trading with counterparties in India. ZaiNet will support Tata Power Trading's sustained growth by helping to automate and consolidate its confirmation process, which Tata Power Trading has identified as a limiting factor to its growth due to its reliance on multiple, disparate confirmation systems, said SunGard. ZaiNet will also help Tata Power Trading gain better controls through audit and reporting capabilities. Matt Mandalinci, president of SunGard's energy solutions business unit, said: "With over 2,000 SunGard staff in India, 125 of which are devoted exclusively to SunGard's energy solutions business, we are excited to enter the power trading market in India with Tata Power Trading. SunGard ZaiNet's flexibility delivered through its configurable risk and calculation engine with an SOA, integration to the IEX, and front-middle-back office integration will help Tata Power Trading to optimize its energy business and support its growth."