COMET lands in Houston

CHICAGO, May 20, 2019 /PRNewswire/ -- Today, TruMarx Data Partners Inc., developers of the COMET energy marketplace, announces the opening of a Houston office. A well-known figure in the energy market, Patrick McKinnon has been appointed as Director/Americas to lead TruMarx's newest US location.

TruMarx's COMET is a mature online platform for commodities trading. Originally built for the industry's most complex trades, COMET has been the platform of choice by industry leaders across 16 asset classes and is designed to manage custom, confidential, bilateral transactions in any energy commodity. COMET has been developed in close collaboration with the industry's foremost experts from the buy-side and the sell-side. COMET facilitates immediate electronic negotiation and execution of custom, confidential, bilateral non-standard transactions between any or all of COMET's 300+ corporate members. COMET supports unlimited, real-time confidential collaboration around any transaction, and provides custom integration between COMET and third-party or legacy systems to create straight-through processing across the transaction life-cycle.

As the Managing Director/Americas of TruMarx Data Partners, Inc., Patrick brings a wealth of experience from his 30+ year career in a diverse range of business development, technical and leadership positions within the energy industry. Most recently, Patrick served as Senior Director with Euler Hermes Energy, where he participated in the development of credit mitigation products focused on physical energy commodities. Formerly, he held the position of Associate Director with the CME Group where he was responsible for the development of products and services primarily aimed at the physical energy markets. Prior to joining CME, Pat was President of the producer consortium Buffalo STX and Executive Director of ConfirmHub. Earlier in his career he held positions in trading with Occidental Petroleum, trade management with Cinergy and several positions within Amerex from broker to Marketing Director. He has managed purchasing and delivery of both crude and natural gas for a variety of firms. His experience spans operations, compliance, marketing, trading and infrastructure development and integration.

TruMarx's Chief Executive Officer Jon Olson commented, "COMET has been developed with the leaders in the commodities industry. We are pleased to welcome someone of Pat's caliber and experience in the energy industry to open our practice in Houston. As someone who has both transacted physical energy and supported others' efforts to transact physical energy, he understands the complexities and challenges of conducting bespoke trades across a myriad of asset classes. Pat will be of great value to our customers."

About TruMarx Data Partners Inc.

Headquartered in Chicago, with offices in Houston, Connecticut, Florida and London, TruMarx Data Partners, Inc. is an experienced team of energy professionals with an established track record in delivering powerful technology solutions for today's energy market challenges. Led by Jon B. Olson, a twenty-five year veteran CEO in the energy markets, the core team has been together for more than 20 years, developing successful software products, data solutions, and custom projects for customers around the globe. Using the internet as a delivery system and employing open architecture, the team specializes in the connection of large communities of transactors via web-enabled software tools and the normalization of complex proprietary transactional data, so that disparate counterparties all speak the same language. In addition to winning multiple awards for software innovation and data management, the TruMarx team's skills have helped hundreds of energy market participants, such as exchanges, brokers, producers, consumers, and industry associations, achieve operational efficiency and market leadership.

About COMET

COMET is a ready-to-use online transaction platform for energy products developed by TruMarx Data Partners, Inc. Over the past 10 years, COMET has facilitated hundreds of transactions governing tens of thousands of physical deliveries between its numerous corporate subscribers, including multinational and, national energy companies, banks trading companies and utilities who benefit from its streamlined processes and rigorous audit trail. The COMET transaction platform currently supports custom, confidential, bilateral transactions in 16 commodities, including most recently Liquefied Natural Gas (LNG).

For more information on TruMarx Data Partners or COMET visit www.TruMarx.com

SOURCE TruMarx Data Partners