Alpharetta, GA, October 30, 2014 –(PR.com)– Transport4, a leading provider of pipeline technology solutions, announces the launch of their eBook-Outs service allowing commodity trading companies and their counterparties to find and agree to book-out chains for their petroleum trading obligations.
Transport4 has worked with industry leaders to develop eBook-Outs to offer a service that automates, standardizes and documents the current manual book-out process. eBook-Outs locates bilateral (net-outs) or as part of complex, multiparty chains by utilizing a complex algorithm supported by T4 technologies. eBook-outs allows companies to formally confirm negotiated agreements to offset the obligation to physically deliver previously executed petroleum trades allowing them to settle financially. Companies can fulfill their contracts while reducing operational risks, saving time and reducing costs. The eBook-Outs service maintains a detailed audit trail of the entire process eliminating the possibility for confusion and to support companies with litigation requirements during credit events. Transport4 utilizes a proven layered security model to ensure all confidential information is protected within its network infrastructure (verified by third party penetration testing).
Transport4 is offering eBook-Outs as a free service through the end of 2014 to support companies with adoption and technology integration. The service will be free for low usage with a low monthly subscription fee for heavy users.
Transport4 is an innovative technology company established in 1997 by four of the nation’s largest product pipelines. Transport4 specializes in custom pipeline solutions that are cost-effective, reliable and secure for processing transactions that facilitate petroleum distribution plans. There are currently 13 major petroleum pipelines utilizing the Transport4 application servicing over 850 customers that move a third of all refined petroleum products consumed in the United States. For more information, visit www.transport4.com.
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