Chasm

CHASM - a scalable and adaptable web based data management system for the billing, clearing and settlement of complex energy market transactions. 

Used successfully by the New Zealand electricity market since 1996, CHASM meets the exacting requirements of industry participants for systems that provide robust and reliable financial settlement calculations.

CHASM is the engine that drives a Centralised Clearing House.

Some of its key features are:

• PRUDENTIAL - calculates participant spot price exposures and manages market prudential requirements
• DISPATCH - processes real time dispatch instructions into trading period settlement blocks
• INVOICING - the engine used for producing and publishing market settlement invoices
• CONSTRAINED - calculates compensation for energy suppliers dispatched out of merit order
• ANCILLARY - calculates and allocates ancillary service procurement costs to the respective payers
• HEDGE - manages and maintains OTC derivative contracts for financial settlement
• PAYMENT - manages receipts of real time payments, perform default allocations (if any) and allocates payments to suppliers

CHASM is managed by a crack team of Wellington based IT professionals that know clearing and settlement inside-out.