1 One-stop shopping for time series data David Williams (London), Thomas Araujo (Houston) & Stuart Reed (London)

2 Current Status Enron’s market data is spread across different locations, databases and technology platforms. Data is held behind different security layers, and is described inconsistently. Currently there is no mechanism to locate and download time series data from a single user interface. Users need to know multiple search techniques, and have access to multiple network drives/databases. Enron pays for the same data multiple times, because there is no central index of market data. There is little or no monitoring or auditing of data usage. There is little connectivity between Enron’s systems. To provide additional data feeds to current systems is IT-intensive and slow.

3 Purpose of MKM To provide a simple and flexible global one-stop shop for time series data where the location of the data is transparent to the end user; To reduce the risk of using ambiguous data to make commercial decisions through improved data descriptions and a central register of time series metadata. To provide a standard library of data manipulation and validation functions, thus reducing time spent formatting data in spreadsheets and time lost through using flawed data; To provide a backbone which allows “public” data to be freely shared, and “private” data to be kept secure. To improve Enron’s bottom line by only paying external publishers for the data once. To allow users greater access to data without taking away their existing systems. To reduce the time required by developers to source and connect to market data.

4 History of MKM MKM started as a project called RateServer which was an initiative to move market data into one database. It became apparent that this would be unworkable, as all databases store their data in vastly different formats. Furthermore, to migrate the data to a single source would be high risk and exposed to error. Instead, Enron could take advantage of a one-stop shop for data without having to physically relocate data. This can be done using a messaging infrastructure comprising TIBCO software and XML documents. This initiative became known as MKM.

5 Why use a pilot? Whilst collecting user requirements in November/December 1999 it became apparent that without a very simple demonstration of the concept, it was difficult for users to state their exact business requirements. By developing a pilot, we can not only prove the underlying technologies such as the messaging backbone, but we can return to the users with a “straw man”, and subsequently collect and collate a firm set of user requirements for the first production version of MKM.

6 What is in the pilot version? The pilot version of MKM includes: The Browser: provides a user interface for publishing and retrieving a limited selection of price and volume data for gas and power business units; The Time Series Index: stores time series metadata; The Message Station: an inbox which holds inbound time series data. The TIBCO messaging backbone: underpins MKM and is transparent to the user. Connectivity to two market data servers - LIM (Houston) and PR1P (London).

7 What is planned for future versions? Calculation Services Security Services Validation Services Notification Services Auditing Services

8 Calculation Services Using calculation services, users will be able to manipulate time series data from multiple data sources. For example, it will be possible to: Aggregate time series Splice time series Apply calculations/pre-defined algorithms Apply filters (e.g. remove weekends) Perform functions that are dependant upon a library of pre-set calendars Export data to Microsoft Office applications if preferred.

9 Security Services The Security Services component will underpin MKM and ensure that only authorised and authenticated users can publish and retrieve data. Other issues addressed by this component will include: Encryption, to ensure that data is not “sniffed” from the network Regions - some data providers only allow data to be used in certain geographic regions.

10 Validation Services Using Validation Services, users will be able to gain comfort over the integrity and accuracy of their data. Specifically, they will be able to: Apply predefined checks on market data. Create customized checks. Create system/user alerts to notify the necessary user via or a pager. View a log of known errors. Validate data by cross system checks, choosing multiple symbols, or choosing a specific publication.

11 Notification Services The Notification Services component will allow data publishers and system administrators to alert users with respect to almost anything relating to MKM, namely: System issues New /updated data Ongoing initiatives Security Violations Validation Results

12 Auditing Services The Auditing Services component adds an element of control to the system. This component will allow administrators to identify which users are using which data, and will allow those responsible for data economics to improve Enron’s bottom line through purchasing only data which is used. Administrators will be able to: Monitor system availability and performance Monitor data usage Keep track of who uses what data, and when data is used. View audit logs.

13 LIM Phoenix PR1P EnPower GasDesk Browser Time Series Index Time Series IndexCalculation Notification Validation Auditing Security Layer TIBCO Backbone etc. Spreadsheets Flat files XML Market Data Servers Browsing & Indexing Services Client Applications Interim Solution

14 LIM Phoenix PR1P EnPower GasDesk Browser Time Series Index Time Series IndexCalculation Notification Validation Auditing Security Layer TIBCO Backbone etc. Spreadsheets Flat files XML Market Data Servers Browsing & Indexing Services Client Applications End Game Solution XML

15 What do we need from you? All projects have to meet the requirements of the business. We need you to tell us: Which market data servers would you like to see connected to MKM? What else would you like MKM to do for you? How we should prioritise future developments?