NGI The Weekly Gas Market Report / NGI All News Access

HoustonStreet to Standardize with OASIS

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

©Copyright 2000 Intelligence Press, Inc. All rights reserved. The preceding news report may not be republished or redistributed in whole or in part without prior written consent of Intelligence Press, Inc.

ISSN © 2577-9877 | ISSN © 1532-1266
Comments powered by Disqus