EnronOnline completed its one-millionth transaction this week, surpassing any of the other online exchanges with its commodity trading. It began transacting natural gas and electricity in November 1999 and since then has extended its platform to about 1,500 wholesale commodity products ranging from energy-related commodities to bandwidth, metals, forest products, plastics, petrochemicals and weather and credit derivatives.

“EnronOnline has become the benchmark for the way energy and other commodity industries do business,” said CEO Jeff Skilling. “It has brought transparent, real-time pricing to our customers and provides them with reliable delivery with a few clicks of the mouse.”

About 60% of all Enron transactions now are conducted online, and the cost of processing the transactions has been reduced by 75%, said the company. To date, the notional value of all transactions on the exchange exceeds $590 billion.

“In just 18 months, EnronOnline has added tremendous scale to our wholesale business, integrating our core strengths in credit and risk management logistics,” said Skilling. “With the power of the Internet, we believe the potential for extending our business model to new markets is limitless.”

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