Altra said last week it completed the previously announcedmerger of the Streamline and Quicktrade electronic energy tradingsystems, achieving a major goal Altra set when it bought Quicktradein January. Altra said the combined package will increaseStreamline user numbers 30% and boost liquidity.
“A single platform was the solution to evolving these marketsinto a seamless enterprise,” said Rusty Braziel, chairman ofAltra’s board of directors.
“We realized when we bought Quicktrade that there couldn’t betwo different platforms co-existing under one roof,” said StaceyWilliams, an Altra spokesperson.
The company said the new system combines the best of bothpredecessor systems. It will facilitate 5 Bcf/d of natural gastrades, 500,000 b/d in liquid fuel transactions and increasingvolumes in the electric power market.
All real-time electronic trading products will now be calledAltrade, including systems for power, gas and natural gas liquids.David Hanson, vice president of electronic trading services and aformer Quicktrade vice president, said the gas system will be anupgraded version of the Quicktrade platform. “In terms ofcontracts, it was easier to switch people to Quicktrade than it wasvice-versa. Also the old Altra platform could not duplicate some ofthe pricing points that Quicktrade’s platform can.” Hanson addedthat the Altrade Power and Altrade Liquids (better known in theindustry as Chalkboard) systems will be out well before the end ofthe summer. Unlike Altrade Gas, the other two systems will be basedfrom the Streamline model.
The convergence signified the end result of the merger betweenthe two companies. “Everything else is done and the process wentvery smoothly,” Hanson said. “There were no layoffs, and in fact,we’ve increased our employee base. After the dust settles from theconvergence, Altra will focus all of its efforts to create a newgeneration platform, that will come out sometime next year.”
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