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YellowJacket, a over-the-counter energy derivatives trading network and solution provider, has joined up with Seccas, an outsourced provider of e-messaging compliance solutions to public and financial services companies, to offer mutual clients a seamless way of retaining and accessing archived electronic messages generated by traders, brokers and other counterparties on YellowJacket's electronic trading arm, YJ Energy.
YJ Energy is a bilateral, peer-to-peer platform for OTC energy trading offering direct and private access to a global network of market makers, investment banks, utilities and hedge funds. The platform supports complex and volatile energy option markets including natural gas, crude and weather.
Along with trading tools and market data capabilities, YJ Energy features instant communication and private negotiation tools that help traders aggregate and consolidate fragmented communications.
Seccas's web-based e-mail, instant messaging and archiving system connects to YJ Energy via an application programme. Mutual clients can view and manage stored communications generated on YJ Energy via Seccas's single interface that can be accessed by a standard web browser.
'Seccas is a great complement to YJ Energy, as the applications together create a distinctive, seamless way of managing and archiving trade communications while also creating tangible value for our mutual clients,' says Seccas president Dan Summa.
Jacob Pechenik, president, chief executive and co-founder of YellowJacket, adds: 'As technologies from both firms continue to evolve to meet our clients' needs, the value and opportunity inherent in both solutions will further benefit the marketplace and help drive our respective growth.'
YellowJacket is a peer-to-peer bilateral trading network and platform that directly connects hedge funds, energy companies, inter-dealers, broker/dealers and investment banks to a dark pool of liquidity through its network of global energy market participants and electronic trade platform.
The firm's trade collaboration and execution tools capture each firm's own OTC market data in real-time, offering private, customised and independent views of the market that can be shared among global trading desks and back offices. Headquartered in New York, YellowJacket has more than 130 clients.
Seccas, established in 2001 and also based in New York, offers a feature-rich tool set for streamlining regulatory compliance delivered as a managed service. Clients can view email, IM, Bloomberg, and webmail; review, sort, score, and search messages by keyword, groups, email address and date range; and manage administrative privileges and generate reports. Subscription services includes unlimited access, training and support as well as monthly WORM archive disks.
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