HoustonStreet to Standardize with OASIS
In an effort to streamline its online trading process and
strengthen energy trading efficiency, HoustonStreet Exchange has
joined the independent and not-for-profit Organizaton for the
Advancement of Structured Information Standards (OASIS). The
exchange says its decision to join marks the industry's first
maneuver to bring open standards to wholesale energy trading.
HoustonStreet hopes to increase energy trading efficiency
through its use of extensible markup language (XML). OASIS is a
firm supporter of XML with a focus on product interoperability to
simplify how businesses exchange information. Extensible markup
language will give users an open format for the B2B exchange of
data over the web.
"By joining the consortium, HoustonStreet is demonstrating its
commitment to product-independent standards for e-business
applications," said Laura Walker, executive director of OASIS.
"Their focus on Internet energy trading will be a valuable asset to
our technical work on XML and other structured languages."
In signing on with OASIS, HoustonStreet will swap information
with the association and use it to form and support open standards
for the industry. Ultimately, the use of XML will produce
information sharing between traders and their offices, as well as
between trading organizations.
HoustonStreet says it created its trading platform with the
utilization of XML in mind. Through this technology it intends to
save its industry customers time and money.
"OASIS is comprised of leading technology companies who
understand the challenges that industry-wide standardization
presents," said Brad Guth, vice president of energy services for
HoustonStreet. "We will tap that knowledge, use it as a guideline
for enhancing our XML protocol, and share the firsthand industry
knowledge we've gained to bring efficiency to the wholesale energy
trading process." Alex Steis
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