During my meeting with Kathryn Cordes the other day, I mentioned to her that I was having lunch with Mirant (formerly Southern Company Energy Mktg.) and wanted to know the status of any contact that Tom Gros may have had with them so that I would know how to handle my discussions with them.  Early on, we had asked that CommodityLogic  target companies like AEP and Mirant for ConfirmLogic.  Kathryn mentioned that they were also thinking of talking to El Paso.

Tom called me yesterday and asked for a contact name at El Paso.  I told him about my planned lunch with Mirant as well.  He asked me to get a contact name for Mirant as well.  

I received some information from Mirant today that actually helps our case for ConfirmLogic.  They informed me that they have just visited with AEP regarding deals transacted on the Intercontinental Power Exchange (ICE) platform (Mirant is a stakeholder in that trading platform).  AEP wants to eliminate confirmations for trades on that platform and want the Automatch function.  He said that AEP's IT dept. is ready to take that step.  He also made the comment that Mirant's IT dept. is very lacking and is not ready to perform the automatch function.  He did say that they would be receptive to verifying the deal information electronically and eliminating the confirmations. He felt that technology wise, they were 3 years behind where we are.   

Our advantage is that we want to automatch the entire universe of deals (Broker, EOL, Direct trades, trades done on other platforms (i.e. Dynegy Direct, ICE, etc.)) rather than just a subset of deals (i.e. Trades done on ICE as AEP suggested).

Just want to pass this on to you to see if you had any concerns about providing this information to Tom.  I was planning on sending him an email tomorrow to give him the contact information.  Let me know.

Kim Theriot