Altra Creates Single Online Trading Platform
Altra announced earlier this week it has completed the
previously announced merger of the Streamline and Quicktrade
electronic energy trading systems, achieving a major goal Altra set
when it bought Quicktrade in January. Altra said the combined
package will increase Streamline user numbers 30% and boost
"A single platform was the solution to evolving these markets
into a seamless enterprise," said Rusty Braziel, chairman of
Altra's board of directors.
"We realized when we bought Quicktrade that there couldn't be
two different platforms-co-existing under one roof," said Stacey
Williams, an Altra spokesperson.
The company said the new system combines the best of both
predecessor systems. It will facilitate 5 Bcf/d of natural gas
trades, 500,000 b/d in liquid fuel transactions and increasing
volumes in the electric power market.
All real-time electronic trading products will now be called
Altrade, including systems for power, gas and natural gas liquids.
David Hanson, vice president of electronic trading services and an
ex-Quicktrade employee, said the gas system will be an upgraded
version of the Quicktrade platform. "In terms of contracts, it was
easier to switch people to Quicktrade than it was vice-versa. Also
the old Altra platform could not duplicate some of the pricing
points that Quicktrade's platform can." Hanson added that the
Altrade Power and Altrade Liquids (better known in the industry as
Chalkboard) systems will be out well before the end of the summer.
Unlike Altrade Gas, the other two systems will be based from the
The convergence signified the end result of the merger between
the two companies. "Everything else is done and the process went
very smoothly," Hanson said. "There were no layoffs, and in fact,
we've increased our employee base. After the dust settles from the
convergence, Altra will focus all of its efforts to create a new
generation platform, that will come out sometime next year."
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