Th he Co ommo Pro odityP oduct Point t Sour t CTR rcebo M So ook ...

CommodityPoint, 

a divis sion of UtiliPoint I 

CTRM Vendor 

and Product 

Sourccebook 

International Inc. 

Thhe 

Co ommoodityPPointt 

CTRM 

Sooftware 

Prooductt 

Sourrceboook 

Veersion 

1. .11 

AApril, 

2010 

Copyright 22010 

UtiliPoint IInternational, 

Innc. 

1







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Copyright 2010 UtiliPoint International, Inc. 

2






Table oof 

Contents s 


Introoduction 

to the 

CommodiityPoint 

CTRM 

Software Sourcebook ................... ................... ............ 6 

Howw 

Commodity yPoint Can Heelp 

Your Seleection 

Processs 

................ ................... ................... ............ 7 

What 

Is Commod dity Trading, Transaction and Risk Maanagement 

SSoftware? 

.... ................... ............ 9 

Froont‐Office 

Ap pplications... ..................... ..................... ..................... ..................... ..................... .......... 11 

Electronic Tr rading ........... ..................... ..................... ..................... ..................... ..................... .......... 11 

Deal Capture e ................... ..................... ..................... ..................... ..................... ..................... .......... 11 

Real‐time Tr rade Capture .................... ..................... ..................... ..................... ..................... .......... 12 

Trader Analy ytics .............. ..................... ..................... ..................... ..................... ..................... .......... 12 

Position Kee eping ............. ..................... ..................... ..................... ..................... ..................... .......... 13 

Scheduling 

Applications 

..... ..................... ..................... ..................... ..................... ..................... .......... 13 

Pre‐Scheduli ing and Scheduling 

.......... ..................... ..................... ..................... ..................... .......... 13 

eTagging & ISO/RTO 

Inteerfacing 

........ ..................... ..................... ..................... ..................... .......... 13 

Middle‐Office 

Applicationss 

.................... ..................... ..................... ..................... ..................... .......... 14 

Risk Manage ement ........... ..................... ..................... ..................... ..................... ..................... .......... 14 

Credit Mana agement ....... ..................... ..................... ..................... ..................... ..................... .......... 14 

Baack‐Office 

Ap pplications .... ..................... ..................... ..................... ..................... ..................... .......... 15 

Contract Ma anagement ... ..................... ..................... ..................... ..................... ..................... .......... 15 

Settlement & Invoicing ... ..................... ..................... ..................... ..................... ..................... .......... 15 

Hedge Accou unting .......... ..................... ..................... ..................... ..................... ..................... .......... 15 

Otther 

CTRM Fu unctions ....... ..................... ..................... ..................... ..................... ..................... .......... 16 

Reequirements 

Dictated By Assets and LLocation 

....... ..................... ..................... ..................... .......... 16 

Suummary 

....... ..................... ..................... ..................... ..................... ..................... ..................... .......... 17 

Prodduct 

and Vendor 

Listing ... .................... ................... ................... ................... ................... .......... 18 

Abaccus 

Solutions s, Inc. 

Saaturn 

............ ..................... ..................... ..................... ..................... ..................... ..................... .......... 19 

Alleggro 

Developm ment, Inc. 

Alllegro, 

Versio on 8 .............. ..................... ..................... ..................... ..................... ..................... .......... 21 

Ampphora, 

Inc. 

Syymphony...... 

..................... ..................... ..................... ..................... ..................... ..................... .......... 23 

Aspeect 

Enterprise 

Solutions, LLTD 

Asspect 

ETRM . ..................... ..................... ..................... ..................... ..................... ..................... .......... 25 

Braddy 

PLC 

Aqquarius 

........ ..................... ..................... ..................... ..................... ..................... ..................... .......... 27 

Trrinity 

............ ..................... ..................... ..................... ..................... ..................... ..................... .......... 29 

Commfin 

Software e & Consulting 

Services Gmmbh 

Thhe 

Bulldog ... ..................... ..................... ..................... ..................... ..................... ..................... .......... 31 

Conttigo 

Ltd 

ennTrader 

........ ..................... ..................... ..................... ..................... ..................... ..................... .......... 33 

Dataa 

Management 

Solutions Corp. 



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GaasPro 

........... ..................... ..................... ..................... ..................... ..................... ..................... .......... 35 

Delta 

Energy Solu utions AG 

ETT3000 

........... ..................... ..................... ..................... ..................... ..................... ..................... .......... 37 

Eka Software Solutions 

Pvt Lttd 

EKKA 

................ ..................... ..................... ..................... ..................... ..................... ..................... .......... 39 

EMKK3 

EMMK3 

Upstrea am ................. ..................... ..................... ..................... ..................... ..................... .......... 41 

Enerrgeya 

LLC 

XDDM 

Suite ..... ..................... ..................... ..................... ..................... ..................... ..................... .......... 43 

Ensyyte 

Energy So oftware Interrnational, 

Inc. 

Gaastar 

and Pri ism ............... ..................... ..................... ..................... ..................... ..................... .......... 45 

Hypeer 

Rig LTD 

Hyyper 

Rig ....... ..................... ..................... ..................... ..................... ..................... ..................... .......... 47 

iRelyy 

iTrrade 

............ ..................... ..................... ..................... ..................... ..................... ..................... .......... 49 

iRiskk 

iRIISK 

.............. ..................... ..................... ..................... ..................... ..................... ..................... .......... 51 

JustCCommodity 

Software S Soluutions 

CoontraxCentra 

al ................... ..................... ..................... ..................... ..................... ..................... .......... 53 

Lacimma 

Group 

Laacima 

riskAna alytics .......... ..................... ..................... ..................... ..................... ..................... .......... 55 

Murrex 

S.A.S. 

MMurex 

MX.3 .. ..................... ..................... ..................... ..................... ..................... ..................... .......... 57 

Naviita 

Systems AS A 

Poomax 

........... ..................... ..................... ..................... ..................... ..................... ..................... .......... 59 

Open 

Link Financ cials, Inc. 

Enndur 

............. ..................... ..................... ..................... ..................... ..................... ..................... .......... 61 

SAS and RiskAdvisory 

(A Divission 

of SAS) 

SAAS 

for ETRM ..................... ..................... ..................... ..................... ..................... ..................... .......... 63 

SoftSSmiths, 

Inc. 

SooftSmiths 

Pow wer/Gas/Maarket 

............. ..................... ..................... ..................... ..................... .......... 65 

Solarc, 

Inc. 

RigghtAngle 

.... ..................... ..................... ..................... ..................... ..................... ..................... .......... 67 

Specctrum‐Prime 

Solutions, LPP 

RisskPrime 

...... ..................... ..................... ..................... ..................... ..................... ..................... .......... 69 

SunGGard 

Energy and Commoddities 

Alligne 

............ ..................... ..................... ..................... ..................... ..................... ..................... .......... 71 

Kioodex 

............ ..................... ..................... ..................... ..................... ..................... ..................... .......... 73 

TRADEPAQ 

TRM llc 

TRRADEPAQ 

TRM 

................. ..................... ..................... ..................... ..................... ..................... .......... 75 

Triplle 

Point Tech hnology, Inc. 

Coommodity 

XL L .................... ..................... ..................... ..................... ..................... ..................... .......... 77 

Venttyx 

TRRM 

............... ..................... ..................... ..................... ..................... ..................... ..................... .......... 79 

Viz RRisk 

Managem ment Servicees 

Elvviz 

ETRM ..... ..................... ..................... ..................... ..................... ..................... ..................... .......... 81 

Wooodlands 

Solut tions, LLC 

Phhoenix 

ETRM M .................... ..................... ..................... ..................... ..................... ..................... .......... 83 

References 

& Oth her Useful Reesources 

...... ................... ................... ................... ................... .......... 85 



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Reeferences 

..... ..................... ..................... ..................... ..................... ..................... ..................... .......... 85 

Usseful 

Resourc ces ................ ..................... ..................... ..................... ..................... ..................... .......... 85 

Abouut 

Commodit tyPoint ........ .................... ................... ................... ................... ................... .......... 86 

Abouut 

UtiliPoint® ® Internationnal, 

Inc. ........ ................... ................... ................... ................... .......... 87 



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Introducction 

to the e CommodittyPoint 

CTRMM 

Softwaree 

Sourceboook 

The CommmodityPoint 

CTRM C Softwarre 

Sourcebookk 

is designed to be a resouurce 

to help tthose 

seekingg 

to select 

CTRM sofftware. 

We have h developeed 

a readily coonsumable 

forrmat 

for each vendor and product listingg 

that has 

summary information about a each venndor 

and prodduct 

that includdes: 

• Functional 

and commoddity 

coverage, 

• Contact de etails, 

• Commodit tyPoint researrch 

highlights, 

• Product an nd vendor infoormation, 

• Represent tative clients, 

• Geographical 

and industtry 

segment distribution 

of users, 

• Website details. d 


The produuct 

functional lity and other information are presentedd 

using chartss 

which are eaasily 

readable providing 

informatioon 

about the vendor’s v functtional 

coverage 

by commodity. 

CommodityPoint’s 

methodology 

for cconstructing 

the 

Sourceboook 

was to deveelop 

a spreadssheet 

and questionnaire 

for each vendor. The spreadsheet wwas 

completeed 

by the venndor 

in whichh 

they identified 

by commmodity 

and 



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function oor 

feature wh hether their sooftware 

had ccapabilities 

that 

were in usse 

by a currennt 

user, capabbilities 

not 

currently used by a clie ent or lacked ccapabilities 

in each area. Thhese 

were insppected 

by CommmodityPoint 

and some 

adjustmennts 

made befo ore final collattion 

of the infformation. 

Thee 

questionnairre 

was used, in 

part, to commplete 


vendor/prroduct 

listing along a with infoormation 

colleected 

in other CommodityPooint 

surveys and 

research. 

We believve 

that the Sou urcebook will become the ultimate 

sourcee 

for product aand 

vendor daata 

utilized by end users 

seeking neew 

software. 

It should bbe 

noted that t CommodityPPoint 

cannot gguarantee 

the accuracy of tthe 

Vendor listtings 

althoughh 

we have 

attempted 

to match vendor 

claims against our kknowledge 

off 

the market. In fact, givenn 

the complexxity 

of the 

accuratelyy 

in preparin ng their respponses 

nor tthat 

each veendor 

has appplied 

the saame 

approacch 

and/or 

interpretaation 

in answ wering our queestions. 

Ratheer, 

the materiaal 

is presentedd 

on the basiss 

that it is inddicative 

of 

the broadd 

capabilities of o vendor’s prroducts 

at thee 

time of goingg 

to print. CommmodityPointt 

strongly advvises 

users 

of this doocument 

to verify v with thee 

vendors andd 

undertake rrequisite 

due diligence whhen 

selecting software. 

Additionaally, 

Commodi ityPoint analyysts 

are available 

to assist oor 

provide addditional 

input oon 

a consultinng 

basis. 

How CoommodityP 

Point Can HHelp 

Your SSelection 

PProcess 

CommodityPoint 

is well 

known for its 

analysis capabilities 

in thee 

CTRM softwaare 

area but wwe 

also offer sservices 

of 

tremendoous 

value to th hose seeking tto 

select and iimplement 

CTTRM 

software designed to rreduce 

costs, ttimescales 

and risks. 


CTRM space 

generally y, we cannot t guarantee tthat 

the venddors 

have intterpreted 

the terminology we used 

CTRM software 

selection and implemenntation 

projeccts 

can be frauught 

with risk, , slippage and cost over 

runs and ffor 

that reason n, CommodityyPoint 

offers advisory 

and audit 

services iinto 

those types 

of projects. . 

We deliveer 

our advisor ry and audit services 

as a ppart 

of your exxtended 

projeect 

team coming 

in at speccific 

points 

along the project to pr rovide externaal 

audit servicees 

while beingg 

on call in ann 

advisory cappacity 

to help guide the 

project att 

any particular 

moment. Ouur 

audit function 

is usually ggeared 

to matcch 

up with prooject 

checkpoints 

where 

we can exxamine 

project t deliverables. . These might include: 

• RFI review w – we examinne 

your RFI forr 

omissions and 

oversights wwhile 

helping eensure 

that thhe 

vendors 

tthat 

it is sent to 

are the oness 

that can in faact 

meet the rrequirements 

oof 

the project; ; 

• RFP review w – we examinne 

the RFP forr 

omissions and 

oversights wwhile 

helping eensure 

that thhe 

vendors 

itt 

is sent to are e the ones thatt 

have the besst 

chance of mmeeting 

the reqquirement; 

• Vendor re esponse analyysis 

and scoring 

– we helpp 

in reviewingg 

vendor respponses 

and ddeveloping 

sscoring 

mechanisms 

for the project; 



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• Project pla an reviews – we examine tthe 

project plaan 

and scope and advise on 

omissions, ttimescales 

aand 

costs; 


• Pre‐selection 

workshop – CommodityyPoint 

educatees 

the core selection 

team oon 

the markett, 

vendors, 

implementatio 

on experience and more to bbetter 

preparee 

you for the eexperience; 

• Final Selec ction – revieww 

of project deliverables 

andd 

advice on thee 

contracts proocess 

as well aas 

starting 

tto 

review prop posed implemeentation 

teamms, 

costs, and ttimescales; 

• Implemen ntation Assistance 

– Checkpooint 

and milestone 

reviews oof 

the project. 


has delivered 

such services on nnumerous 

occcasions 

and haas 

been creditted 

with savinng 

money, 

reducing ttimescales 

and d project risks by our clientss. 

Please contact 

us for more m details onn 

how we can assist you by emailing us aat 

info@commmodity‐point.ccom. 



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What Is Commodity y Trading, TTransaction 

and Risk Managementt 

Software? 

Commodities 

trading, transaction 

andd 

risk manageement 

(CTRM) software is thhat 

category oof 

software applications, 

architectuures 

and tools 

that suppoort 

the businness 

processees 

associated with tradingg 

energy andd 

broader 

commoditties. 

In the bro oadest sense, commodities trading meanns 

both the buuying 

and sellinng 

of commoddities 

such 

as crude ooil, 

coal, natur ral gas, electriic 

power, agriccultural 

commmodities 

such aas 

sugar, corn, 

wheat, metaals 

such as 

gold, coppper, 

emissions s and refined pproducts, 

the mmanagement 

of the movemment 

and deliveery 

of the commmodities, 

and assocciated 

risk management 

acttivities. 

CTRM software therrefore 

comprises 

a broad seet 

of functions 

that can 

vary considerably 

depe ending on whaat 

commoditiees 

are traded, what assets aare 

employed in the busineess, 

where 

those asseets 

are located d, and what thhe 

company’s business strategy 

and assocciated 

businesss 

processes arre. 

Usually, CCTRM 

solution ns are fully integrated 

suitees 

of softwaree 

that help mmanage 

the froont‐, 

middle‐ and back‐ 

office aspects 

for a trad ding entity. Altthough 

such deefinitions 

and organizationaal 

structures differ 

quite widdely 

across 

the industtry, 

the front‐ ‐office is usually 

concerned with deal cappture 

and position 

managemment, 

the midddle‐office 

with mannaging 

and reporting 

various 

risk exposures 

as a ressult 

of tradingg 

activities annd 

the back‐ooffice 

with 

settlemennts 

and accou unting functionns. 

Additionallly, 

there will usually be a scheduling orr 

logistics management 

component 

to CTRM so olutions that allow 

the energgy 

company too 

plan, track, mmanage 

and aaccount 

for quantities 

of 

commoditty 

that have to o be physicallyy 

moved from its source to ssome 

point of usage. 

Recently, with the eme ergence of commmodities 

as an asset classs 

and of financial 

traders suuch 

as hedge funds and 

banks, thhe 

boundary between ETRM 

(Energy trrading 

& risk managementt 

software) and 

CTRM hass 

become 

increasinggly 

blurred. CommodityPoi 

C 

int research indicates thatt 

few, if anyy 

trading firmms, 

now tradee 

a single 


and even what w constitutes 

‘energy’ is less distinct than 

it once wwas. 

These dayys, 

commoditiees 

such as 

freight rattes, 

ethanol and a emissions might be tradded 

by energyy 

trading firmss 

in addition tto 

crude oil, natural 

gas 

and so foorth. 

ETRM software 

is increasingly 

likelyy 

to cater for commodity trading 

generaally 

and not juust 

energy 

commoditties 

these days 

and into thee 

future. 


analys sis also demonstrates 

that tthere 

are alsoo 

significant neew 

areas of fuunctionality 

reequired 

by 

asset‐heavy 

users of ETRM systemms 

such as poower 

generattors. 

These innvolve 

various 

market anaalysis 

and 

forecastinng 

activities inc cluding load foorecasting 

andd 

price forecassting 

in particuular 

regional ccommodity 

maarkets 

and 

asset optiimization 

mod deling. The reqquirement 

is tto 

optimize thhe 

use of asseets 

employed by the busineess 

against 

usage andd 

outage trends 

in regionall 

markets helpping 

to determmine 

the mostt 

profitable wway 

in which to 

manage 

those assets 

given the market needds. 

There is also 

a real‐timee 

trading commponent 

to these 

requiremeents 

since 

adjustmennts 

need to be made in real‐time thrrough 

the dayy 

as market dynamics chaange. 

Anotheer 

area of 

functionality 

required in 

this industryy 

segment is inn 

market communication; 

pparticularly 

in rregional 

poweer 

markets 



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Commod 



Sourcebook 

ityPoint, a division of UtiliPoint International Inc. 

where biddding, 

dispatch h, scheduling, ISO communiication, 

settlemments 

and recconciliations 

are 

needed. Figgure 

1 is a 

simplifiedd 

comparison of o "traditional" " ETRM with oour 

view of thee 

emerging need 

for an Asseet‐ETRM 

solutiion. 

With the emergence of f commoditiess 

as an asset class, 

the increease 

in the trend 

to trade ennergy‐related 

and other 

commoditties, 

the ETRM M software spaace 

is both broadening 

in sccope 

as new nniches 

emergee 

such as that discussed 

above forr 

more asset‐ ‐heavy orientted 

traders. Indeed, 

the ETRM 

software 

category iss 

becoming evven 

more 

complex tthan 

it once was. w 

Today, maany 

of the larg ger software vvendors 

in the CTRM space ooffer 

comprehhensive 

suites of solutions wwhile 

other 

software vvendors 

specialize 

in market 

communicattion, 

load forecasting 

and otther 

asset‐orieented 

requiremments. 

Table 1 ‐ RRequirement 

summary s for EETRM 

users 

Although CTRM software 

functional ccoverage 

can be difficult to define, anothher 

way to look 

at it is to consider the 

types of ccompany 

that need n to utilizee 

CTRM softwaare 

as follows: ‐ 

• Hedge Fun nds trading commodities; 

• Investmen nt banks tradinng 

commoditiees; 

• Energy me erchants tradinng 

commodities; 

• Multinatio onal oil compaanies 

trading commodities; 

• Producers s selling their pproduction; 

• Utilities (Investor‐owned, 

Municipal uutilities 

and coooperatives) 

bbuying 

fuel forr 

power generation and 

ffor 

the sale of wholesale gass 

or electric poower; 


UtiliPoint International, 

Inc. 

10


sion of UtiliPoint I 




• Local Distr ribution Comppanies 

buying wwholesale 

eneergy 

to sell to rretail 

markets; 

• Large com mmercial and inndustrial 

end uusers 

of energgy 

and other coommodities; 

• Petrochem mical and refinning 

companiees 

that procuree 

feedstock in wholesale maarkets; 

• Agricultural 

producers; 

• Metals and 

other raw mmaterials 

miners; 

• Food proc cessing companies. 

Given thee 

list of different 

segments oof 

the industryy 

that might reequire 

CTRM ssoftware, 

it cann 

be readily unnderstood 

that the reequired 

functi ionality of such 

systems cann 

be very extennsive 

and complex. 

Perhaps aanother 

way to t think abouut 

CTRM softwware 

is to connsider 

the maanagement 

of two primary functions 

across theese 

entities. First 

is the business 

of manaaging 

the assetts 

employed in 

the businesss 

(whether thoose 

assets 

are generration 

facilities, 

produced qquantities 

of ooil, 

gas or elecctric 

power), and secondly the merchant 

function 

that is invvolved 

in the buying b and sellling 

of commoodities 

and maanaging 

assocciated 

risks. CTTRM 

software is used to 

manage the 

merchant function f and bbut 

increasingly 

it has to be integrated wiith 

and/or incllude 

asset management 

functions. . However, it remains r very ddifficult 

to deffine 

the entiree 

functional cooverage 

of an CTRM systemm 

simply as 

a result oof 

the different 

variations in requiremeents 

at the deetailed 

level. On a broad llevel, 

the softtware 

will 

comprise most of the fo ollowing appliccations 

or funcctions; 

FrontOffice 

Ap pplicationns 

Electronnic 

Trading g 

Electronicc 

trading is ut tilized by a vaariety 

of industry 

players tthat 

conduct ttrades 

and thhose 

trades neeed 

to be 

managemment. 

Deal Cappture 

The deal ccapture 

applic cation area supports 

the traaders 

and/or aadministratorss 

capture of deeals 

into the ssystem 

for 

further prrocessing. 

Gen nerally, deal ccapture 

is the start of the transaction 

floow 

through to invoicing butt 

it usually 

requires oother 

set up data d to functioon 

correctly such 

as contract 

and counteerparty 

data. DDeal 

capture requires a 

high level of ease of us se to allow traaders 

and admministrators 

to enter deals raapidly. 

Many vendors have therefore 

developedd 

“deal blotter” 

screens in aaddition 

to lonng‐form 

deal ccapture 

screens. 

The deal bblotter 

screen looks and 

configurable 

allowing a specific tradder 

to ‘default’ 

many of thhe 

data itemss 

on the screeen 

for more rrapid 

data 

capture. 

ityPoint, a divis 


captured in the CTRM M system so as to insure that it is the 

primary system 

for possition 

keepingg 

and risk 

behaves like a spread dsheet and iss 

a familiar wwork 

environmment 

for tradders. 

Additionnally, 

it may often be 



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Deal capture 

systems need 

to be ablee 

to capture aany 

number off 

transactions ‐ both physicaal 

and financiaal. 

It is this 

that adds to the compl lexity of deal capture systems 

since eachh 

deal type requires 

any nuumber 

of addittional 

and 

unique atttributes 

to be e also entered. 

One issuee 

that may ariise 

with the ddeal 

capture ffunction 

is in capturing 

physical aand 

financial deals d in differeent 

systems. Fiinancial 

deals may sometimmes 

be captureed 

in a risk system 

while 

the physical 

deals are e captured in 

the transaction 

manageement 

systemms. 

This resuults 

in a neeed 

to link 

corresponnding 

deals and 

can lead to iintegration 

annd 

position keeeping 

problemms. 

As the inndustry 

has ev volved, the deal 

capture bbusiness 

functtion 

has becoome 

more staandardized, 

wwith 

better 

definition of the instru uments and ddeal 

types useed 

across thee 

industry. In turn, this has 

allowed venndors 

and 

solution pproviders 

to develop d better 

solutions to support tradders. 

Nonetheless, 

deal cappture 

can be a complex 

piece of fuunctionality 

es specially if it iss 

combined wiith 

trader tools 

for what‐if aanalysis 

and if it is required tto 

provide 

instantaneeous 

valuation n and risk meaasures 

such as Value at Risk and Mark to MMarket 

valuatiion. 

Despite thhe 

increased standardizatio 

s 

n in this businness 

function, since it is ofteen 

provided ass 

a module in a broader‐ 

based solution, 

it is rarely 

deployedd 

stand‐alone. 

other funcctionality 

to provide 

transacction 

processinng 

through pree‐scheduling 

aand 

often to innvoice. 

There aree 

many ways in which deals 

get done tooday 

includingg 

over the teleephone, 

throuugh 

an exchannge, 

using 

Interactive 

Messaging and a email. All oof 

these differrent 

media havve 

to be captuured 

in the CTRRM’s 

deal captture 

area. 

Real‐timme 

Trade Ca apture 

For any power 

compan ny with generaation, 

real‐time 

trading alsoo 

has to be peerformed 

and tthose 

deals caaptured 

in 

the systemm. 

Real‐time trading 

is condducted 

to mainntain 

balance as generation operations prrogress 

and ass 

real‐time 

needs arisse 

on the grid d and it is a seeparate 

function 

from the aactual 

wholesaale 

trading opperations 

that deal with 

time perioods 

beyond th he day of operations. 

Real‐time 

trading is therefore more 

typically a rrequirement 

for 

utilities 

and generrators 

than me erchants and ooften 

managedd 

by the regulated 

arm of thhe 

company. 

Trader AAnalytics 

Analytic ttools 

to suppo ort traders in their activitiees 

have becomme 

common additions to mmany 

CTRM ssystems 

in 

recent yeears. 

These to ools can includde 

price calcuulators 

(optionn 

prices, etc.) ) as well as “ “what‐if” toolss 

allowing 

traders too 

analyze the impact 

of a traade 

against a pportfolio. 

One evolution thatt 

has taken plaace 

in the analytics 

area 

is one from 

models dev veloped primaarily 

for financcial 

markets too 

more energyy‐specific 

models 

that take aaccount 

of 

the speciffic 

behavior of f the underlyinng 

commodity. 

In almost alll 

cases, the ddeal 

capture mmodule 

is bunndled 

with 



Inc. 

12







Positionn 

Keeping 

Position kkeeping 

is the function thatt 

essentially trracks 

trades and 

their offseetting 

physical and financiall 

positions 

and has loong 

been an area a of short ccoming 

in manny 

trading/marketing 

departtments 

and syystems. 

Despitte 

the fact 

that mostt 

third‐party packages proovide 

some poosition 

keepinng 

functionalitty, 

many tradding 

floors still 

rely on 

manually update whiteboards 

and sppreadsheets 

too 

keep overalll 

position. Thee 

issue is partly 

about the ddiversity 

of 

required data together r and present it in a usablee 

form and, ppartly 

related to business pprocess 

shortccomings 

– 

particularrly 

where deal ls are enteredd 

after the facct. 

Position is required in mmultiple 

formatts. 

For exampple, 

overall 

portfolio position, posit tion at variouss 

points on the 

grid as well as physical annd 

financial poosition. 

It is thhis 

level of 

complexitty 

that has kep pt position keeeping 

a largelyy 

manual activity 

in many maarketing/trading 

shops. 

Scheduuling 

App plicationss 

Pre‐Schheduling 

and d Schedulinng 


involves organizing 

plannning 

and traccking 

the movvement 

of phyysical 

energy commodities via some 

transport mechanism and a for that rreason 

scheduuling 

systems have differennt 

functionalitty 

depending upon the 


to be sched duled and the ggeographic 

loccation 

in which 

the movemeent 

will take pplace. 

Scheduliing 

or pre‐ 

scheduling 

is another fu unction that can 

be extremeely 

complex and 

that many vendor‐providded 

solutions still fail to 

address completely. 

In North Americca, 

gas scheduling 

comprisess 

pathing, nomminating, 

and confirming gas 

volumes 

through vvarious 

pipelin nes whereas eelectric 

powerr 

scheduling involves 

pathing 

power thrrough 

various grids and 

communiccating 

back an nd forth with the regional ppower 

marketss. 

Scheduling for other commmodities 

suchh 

as crude 

oil and cooal 

may involv ve utilizing barges, 

trains, trucks 

or vesseels 

and the trracking 

of those 

shipments from one 

place to another. 


systems uused 

by mark keters/traders and the lackk 

of a cohereent 

integration 

framework that can brinng 

all the 


is a function 

that both pplans 

the movement 

of the commodity bbut 

also trackss 

and accountts 

for that 

movemennt. 

So for exam mple, a compaany 

may plan tto 

move a volume 

of naturaal 

gas along a pipeline but itt 

needs to 

have the legal right to do so and theen 

communicaate 

back and forth 

with the pipeline on isssues 

such as the actual 

volumes ddelivered 

and shipped, the transportationn 

costs and anny 

losses in voolume 

that takke 

place on the 

pipeline 

and so onn. 

It is a very co omplex functioon 

and different 

solutions are 

required for 

each commoodity 

and geoggraphy. 

eTagginng 

& ISO/RT TO Interfaccing 

These funnctions 

are important 

in schheduling 

electrric 

power in NNorth 

America and as the innterfacing 

and e‐tagging 

requiremeents 

are large ely regional (byy 

ISO or RTO) in nature, this 

business function 

has not 

and might nnever 

truly 

standardizze 

in North America. A It thherefore 

proviides 

a niche oopportunity 

for 

specialist ssolution 

proviiders. 

The 

function involves 

comm municating to the regional ppower 

markett 

operator usinng 

its standards 

for data interchange 

as well as reconciling an nd settling on the actual quaantities 

that mmoved. 



Inc. 

13







MiddleeOffice 

Applicatio A ons 


Risk Maanagement 

Risk manaagement 

syste ems in the energy 

industry became essential 

tools after 

wholesale power marketts 

opened 

up. The innstantaneous 

nature of powwer, 

its lack of 

storage capaabilities, 

and pprice 

volatilityy 

drove the addoption 

of 


across 

the industryy. 

The risk systeem 

generally ccaptures 

finanncial 

trades dirrectly 

and thenn 

provides 

various exxposure 

report ts for both financial 

and phyysical 

trades/pportfolios. 

Many riskk 

systems pro ovide a varietyy 

of tools to vvalue 

trades, books, and portfolios 

incluuding 

Value att 

Risk and 

Earnings at Risk. The diversity d of innstruments/traades 

that neeed 

to be repreesented 

in rissk 

systems maay 

include 

weather, interest rates, 

and foreign exchange trannsactions 

as wwell 

as energy commodity reelated 

instrumments. 

Risk 

system veendors 

are now w adding metthods 

and repoorts 

to addresss 

aspects of tthe 

physical side 

of the busiiness 

such 

as volumeetric 

and deliv verability risk. Earnings at RRisk 

and similaar 

tools are ann 

example of tthe 

shift that has taken 

place in this 

area. Earn nings at Risk ppossibly 

providdes 

a better assessment 

of how earningss 

would be impacted 

by 

certain evvents 

or price e movements as opposed too 

making the assumption tthat 

positions can be unwoound. 

For 

marketerss 

with generat tion, for exammple, 

power is actually takenn 

to delivery aand 

therefore the position cannot be 

“unwoundd” 

in the sam me way that a financial poosition 

might be. This volumetric 

risk asspect 

to todayy’s 

power 

marketerss’ 

business diff fers consideraably 

to the market 

risks faced 

by asset‐lighht 

merchants. 

Another ffacet 

of the ch hanging risk mmanagement 

wworld 

is the mmark‐to‐markett 

valuation versus 

accrual aaccounting 

often useed 

by utilities. . While mark‐ ‐to‐market valluation 

is a coommon 

and aaccepted 

method, 

the difficulty 

is in 

understannding 

how a mark‐to‐marke 

m 

t profit actually 

gets bookedd 

on an accruaal 

basis. Oftenn, 

traders and marketers 

have been 

rewarded based b on markk‐to‐market 

position 

as oppposed 

to actuual 

accrued prrofits. 

In the ppast, 

price 

manipulattion 

resulted in inflated mmark‐to‐markeet 

valuations that after ssettlement 

weeren’t 

reflecteed 

in the 

company’ ’s books, causing 

apparent 

profits to “ “evaporate.” 

As a result, 

independent 

price data but this is difficult 

in more opaque Over the Counter (OOTC) 

transactiions. 

Credit MManagemen 

nt 

Credit maanagement 

and d credit risk mmanagement 

has 

become ann 

area of conceern 

for all energy 

companiess 

after the 

collapse oof 

the mercha ants and the counterparty credit issuess 

that followeed. 

The credit managementt 

function 

requires aaccess 

to contract 

data as wwell 

as external 

credit agency 

and other crredit 

data. Thee 

credit function 

usually 

establishees 

credit profiles 

for countterparties, 

moonitors 

credit limits againstt 

counterpartiies 

as well ass 

manages 

collateral requirements s. It has rapidly 

become something 

of a specialized fuunction 

that hhas 

growing immportance 

and is noww 

served by sp pecific credit mmanagement 

aapplication 

prooviders. 



Inc. 

more emphasis 

is now pplaced 

on 

14







many of the 

existing CTTRM 

platform vendors also provide somee 

credit managgement 

functionality. 

In 

this instannce, 

the funct tionality is usuually 

limited tto 

monitoring trade exposuure 

to counterparties 

although 

some 

systems ddo 

go further. Very few traditional 

tradinng 

and transaction 

management 

systemss 

however also 

manage 

the collateeral 

side of cre edit managemment. 

With the ongoing emph hasis on crediit 

and collaterral 

managemeent 

as a compoonent 

of goodd 

corporate goovernance 

and risk mmanagement, 

this t is an area that may see a continued eemergence 

of specialist vendors 

and a reqquirement 

to integraate 

with existin ng trading andd 

transaction mmanagement 

ssystems. 

For markeeters 

with both 

wholesale and 

retail operations, 

credit management is a much more 

complex prroposition. 

If utilizingg 

a CTRM syste em’s credit functionality, 

this 

is generallyy 

built to proviide 

credit mannagement 

for wholesale 

trading acctivities 

only lacking 

the ability 

and scalability 

to manaage 

counterpaarty 

credit expposure 

for thoousands 

of 

retail counterparties. 

Generally, 

the ssolution 

is to aaggregate 

like contracts intoo 

groups and tthen 

load thosse 

into the 

credit management 

mo odule and this again requiress 

external spreeadsheets 

or ccustomized 

solutions 

be built. 


there are developing a number of risk 

measures such as Crediit 

Value at Rissk 

(CVaR). WWhile 

some 

systems oostensibly 

offe er the ability too 

calculate annd 

report on CCVaR, 

the devil 

is in the detaails 

of the methodology 

and 


to enter and store creddit 

data at thee 

appropriate llevel. 

BackOOffice 

Applicationns 

Contracct 

Managem ment 

Contract MManagement 

data is a key component foor 

trading, creedit 

managemeent 

and schedduling 

activitiees 

and it is 

generally provided as a part of a CTRM 

system. Generally, thhese 

systems maintain the key contract data that 

provides ffor 

counterpar rty credit limitt 

monitoring, ttransmission 

terms 

and tradding 

limits, andd 

so on. 

Settlement 

& Invoi icing 

While setttlement 

and in nvoicing are ooften 

grouped together, they 

are two diffeerent 

and impportant 

functioons. 

While 

both funcctions 

are ofte en provided bby 

CTRM softwware 

packagess, 

many comppanies 

actuallyy 

utilize solutiions 

other 

than theirr 

primary CTRM M system to pperform 

these functions. Aggain, 

while invooicing 

is a function 

providedd 

by many 

of the primary 

trading and transactioon 

managemeent 

systems, bbut 

many commpanies 

also uttilize 

a differeent 

system 

to producce 

invoices. 


Hedge AAccounting 

Hedge Accounting 

has become a mandatory 

function 

since the inception of FFAS 

133 and its 

equivalent aaccounting 

standardss. 

As with cred dit managemeent, 

a host of niche solutionns 

has been deeveloped 

speccifically 

to help 

perform 



Inc. 

15






hedge acccounting. 

At the t same time, 

many traditional 

vendorrs 

have addedd 

some degreee 

of hedge aaccounting 

functionality 

to their systems, 

too. 

Other CTRM Fu unctions 

Depending 

upon the ty ype of company 

utilizing annd 

CTRM systeem 

a numberr 

of other functions 

may bee 

required 

including gas storage, inventory maanagement, 

geeneration 

disppatch, 

load foorecasting, 

maarket 

simulation, 

stress 

testing, gaas 

measureme ent, and moree. 

Additionallyy, 

all CTRM soolutions 

will reequire 

some aadministrative 

functions 

including security of ac ccess, audit trrailing, 

workflow, 

interfaces 

to external price feeds aand 

other exteernal 

data 

sources annd, 

document t managementt. 

Part of the 

complexity of o CTRM is thaat 

there is no real standard for what commprises 

an CTRRM 

system. Hoowever, 

as 

regulationns 

and recommendations 

aare 

made by vvarious 

organiizations 

and ggoverning 

boddies, 

more standardized 

approachees 

are emerging 

in areas suuch 

as risk maanagement, 

deeal 

capture, annd 

the back ooffice. 

Still, as the CTRM 

software class serves such s a broad sset 

of essentially 

niche markets 

from heedge 

funds to regional utilities, 

what 

constitutees 

a CTRM solution 

is very vvariable. 

It is tthis 

that allowws 

so many veendors 

and prooducts 

to coexist 


industry ssince 

many products 

are tarrgeted 

at nichhe 

vertical markets 

or at specific 

functionns 

within the ccontext 

of 

CTRM. 

Some CTRRM 

software solutions 

have gone further in terms of back 

office functtionality 

too and 

offer general 

ledger, 

accounts payable and accounts a receeivable 

functioons. 

However, , many compaanies 

utilize thheir 

existing aaccounting 

packages 

accountinng 

system. 

The indusstry 

is actually y a very heteroogeneous 

marrket 

for CTRMM 

software witth 

horizontal aand 

vertical niches 

that, 

on the suurface 

at least, , appear to shhare 

similar reequirements. 

WWhile 

many “ “outsiders” seee 

a large and attractive 

homogeneous 

market for CTRM sofftware 

with goood 

revenue and profit potential, 

the trruth 

is that thhere 

are a 

plethora 

to perform 

of company 


much of thiss 

functionalityy 

requiring ann 

interface between 

the CCTRM 

systemm 

and the 

business moodels 

and eacch 

model hass 

its own deetailed 

versionn 

of the samme 

set of 

requiremeents. 

Indeed, at a certain leevel 

of detail, all companiess 

involved in bbuying 

and seelling 

commoddities 

have 

common business func ctions yet, as you drill dowwn, 

there are significant annd 

fundamenttal 

differencess 

in those 

requiremeents. 

The ide ea that there are standardd 

functionalityy 

requirements 

is simply a mirage creaated 

by a 

fundamenntal 

lack of und derstanding of 

the energy bbusiness 

at a detailed 

level. 

Requirrements 

Dictated By Assetts 

and Loccation 

The naturre 

of each company's 

physsical 

assets annd 

the geograaphic 

location of those asseets 

actually dictate 


majority of the software 

requiremments 

at the detailed level. 

The need to record annd 

report on data and 



Inc. 

16






transactioons 

is inevitably 

governed by 

the regulatoory 

regimes unnder 

which thee 

company opperates 

its asseets 

and by 

generation 

facilities will 

have differennt 

requiremennts 

from the coompany 

that hhas 

predominaantly 

coal‐firedd 

facilities. 

Generators 

in different t geographic rregions 

will haave 

different rreporting 

requuirements. 

During 

the energgy 

trading 

bubble, thhe 

fundament tal importancee 

of assets waas 

overlooked and the recennt 

return to asset‐centric 

trrading 

has 

increased the importance 

of asset‐related 

softwaree 

requirementts. 

Summmary 

It is difficcult 

to define CTRM software 

precisely. At its core, CTRM softwaare 

comprises deal capturee, 

position 

keeping, rrisk 

management, 

settlemennt 

and invoicinng 

along with ssome 


modules oorganized 

suchh 

that data 

is enteredd 

only once and a flows thrrough 

the sysstem 

from thee 

front office to the back office. In reaality, 

each 

company 


the type of assets em mployed in the 

business. FFor 

example, an electric ggenerator 

withh 

predominattely 

hydro 

using a CTRM 

solution hhas 

its own pparticular 

requirements 

annd 

each verticcal 

market niche 

from 

productioon 

to Local distribution 

reqquires 

some vvariation 

in fuunctionality 

annd 

some extensions 

to funnctionality. 

Indeed, it is this variability 

in requiremments 

that adds 

to the overrall 

complexityy 

of implementing 

CTRM sofftware. 



Inc. 

17






Produuct 

and Ve endor Lissting 

Each Venndor 

and Prod duct listing iss 

arranged acccording 

to thhe 

same formmat 

for clarityy 

and ease off 

use. 

Each listing 

comprises s: 

• The name of the vendorr 

and product, , 

• A graph sh howing the disstribution 

by ggeography 

andd 

industry segmment 

of the prroduct’s 

installed 

base, 

• Commodit tyPoint researrch 

highlights rregarding 

the vendor and prroduct, 

• Company and product information comprised 

fromm 

a variety off 

sources incluuding 

vendor’ s website, 

ccollateral 

and CommodityPo 

C oint material, 

• A graphica al matrix provviding 

an overrview 

of the product's 

capabilities, 

by funnction 

(verticaal 

axis), by 

ccommodity 

(ho orizontal axis), , 

• Vendor’s office o locationns, 


• A represen ntative list of uusers 

of the prroduct, 

and 

• The vendo or’s website adddress. 

The listingg 

allows rapid d comparisons between venndor 

products as well as a ppulse 

check inn 

terms of wheether 

that 

product iss 

one utilized in i your geograaphy 

of operattion 

and/or inddustry 

segmennt. 

The functioonality 

matrix shows, by 

major commmodity 

and area a of functioonality 

or systeem 

feature, wwhether 

the prroduct 

has cappabilities 

that hhave 

been 

deployed in a particula ar functional aarea, 

capabilitties 

in that arrea 

not yet deeployed 

at anny 

client site, or cannot 

support that 

feature or 

function. Thhis 

is indicatedd 

via color codding 

to make the graphic rrapidly 

consummable 

and 

easy to reead 

or compare 

and contrastt 

with other lissted 

products. 

Overall, tthe 

listings pr rovide sufficieent 

compact detail to idenntify 

vendors and products 

that may mmeet 

your 

requiremeents 

and should 

therefore bbe 

candidates ffor 

your long llist 

at the startt 

of a selectionn 

exercise. 

Those thinking 

about a software seelection 

exerciise 

may wish to consult ouur 

book – Sellecting 

& Implementing 

Energy Trrading, 

Transa action & Risk Management 

Software – A Primer (Reeames 

& Vaseey, 

2008) pubblished 

by 

Booksurgee 

Publishing, for f additional bbest 

practices and guidancee. 



Inc. 

18

CCommodityPoinnt, 

a division of UtiliPoint U Internatio 

CCTRM 

Vendorr 



SSaturn, 

Version 

‐ Dec c 2009 

AAbacus 

Solutions 

Inc 

224704 

Voorheees 

Drive 

LLos 

Altos Hills, CA 94022 

onal Inc. 

Maarkets/Geog 

graphies Serrved 

CommmodityPoint 

Research R Highlights 

As a relativeely 

new vendo or, Abacus Soluutions 

Inc. hass 

made steaddy 

progress with w its innovvative 

SATURNN 

product whiich 

benefits from f having been built onn 

modern techhnology 

and designed d from first principless 

with the idea 

of incorpora ating physical aassets 

into thee 

risk picture. 

SATURN wass 

among the solutions s rankeed 

as a market 

leader in CommodityPoint’s 

2009 CCTRM 

Vendor 

Perceptions study for both 

Market Rissk 

and in thee 

Generation ssegment 

of the e industry. 

Commpany/Prod 

duct Informaation 

AAbacus 

Solutioons 

Inc. is the developer of SATURN, a weeb‐ 

bbased 

integratted 

enterprise e ETRM systeem 

designed to 

mmeet 

the markket 

need for an n integrated pplatform 

that ccan 

aaddress 

the financial and d physical requirements 

of 

vvertically 

integgrated 

energy y companies. Using modeern 

technology, 

aapplications: 

SATURN integrates 

tweelve 

(12) kkey 

• Markeet 

Simulation: All A markets, Foorward/Spot, 

different pprocessors, 

multivariate 

correelations 


19




Vendorr 



onal Inc. 

• Parammeters 

Estimation: 

All marketts/simulation 

parameterrs, 

historic/rece ent market datta 

• Generration 

Optimiza ation: 

Thermal/sttorage/renewa 

able, commitmment/economicc 

dispatch 

• Load AAnalysis: 

Electr ric/gas, regresssion 

analysis, 

renewablee 

requirements s 

• Trade Capture: All co ommodities, all 

trade types, 

templates, , structured co ontracts 

• Trade Valuation: All commodities, all trade typess, 

MTM, VARR, 

Greeks, etc. 

• Busineess 

Intelligence e: Markets, weeather, 

loads, 

generationn 

• Markeet 

Integration: Trading platforms, 

brokers, 

counterparties, 

etc. 

• Creditt 

Management: 

Rating transittion 

matrix, 

default proobability, 

curre ent/future expoosure 

• Financcial 

Analysis: Ke ey performancce 

indicators, 

targets, maargins, 

other fi inancial metriccs 

• Risk MManagement: 

Financial F and voolumetric 

risk 

metrics 

• Portfoolio 

Manageme ent: Existing/pootential 

portfolios, efficient front tier, risk/returnn 

tradeoffs 

AAbacus 

users ccan 

generate statistics about 

prices, loadds, 

aand 

generationn, 

and transfe er their results 

to PowerPoint 

aand/or 

other tools. Price simulation 

parrameters 

can be 

aautomatically 

developed fro om recent daata 

and markket 

qquotes. 

Managgers 

and execu utives can review 

performannce 

uupdates 

throuugh 

customize ed dashboardds. 

Traders ccan 

qquickly 

revieww 

updated ma arket information 

and heddge 

ppositions 

as traades 

are entere ed into the system. 

SSATURN 

featurres: 

• Advannced 

Analytics: Markets, geneeration, 

credit, , 

risk, portfoolio 

manageme ent 

• Perforrmance: 

64‐bit architecture, multi‐threadedd, 

N‐tier, parallel 

processing 

• Modullar 

Architectur re: Comprehennsive 

vertical annd 

horizontal scalability 

• Integration: 

Markets/generation/cred 

dit/loads/tradees, 

short/mid/ /long term 

Copyright 2010 UtiliPoint International, Innc. 

• Extensive Reeporting: 

Differrent 

formats, fflexible 

graanularity, 

extensive 

configuraability 

• Intuitive Inteerface: 

Standardized 

layout, extensive 

configurability, 

wweb‐based 

• Enterprise Seervices: 

Documment 

managemment, 

useers 

forum, newws 

feeds, notifiications, 

etc. 

• Enterprise MMobility: 

Access/Anytime/Anyywhere, 

SOOA, 

authorizatioon/authenticattion, 

etc. 

SATURNN 

is scalable along severaal 

dimensionss 

including 

geographies 

(counntries, 

regions, 

locationns, 

etc.), 

commoodities 

(power, , fuels, emissioons, 

FX, etc.), ggranularity 

(hourlyy, 

daily, etc.. .), number oof 

markets (aa 

few to 

hundreeds), 

number oof 

generation units, numberr 

of trades, 

time frrame 

(from a few days to mmany 

years), nnumber 

of 

simulattions 

(from ddeterministic 

to a large nnumber 

of 

scenariios), 

number of users (inncluding 

their 

physical 

location), 

level of uusers 

(from aanalysts 

to executives), 

organizzational 

structture 

(across mmany 

functionnal 

areas), 

functioonal 

applicatiions 

(markett 

analysis, ggeneration 

optimizzation, 

tradingg, 

load analysis, 

etc.), anaalysis 

type 

(transactional, 

analyttical, 

presentation, 

reportingg, 

decision 

supporrt, 

etc.), etc. SATURN 

scalability 

is due to iits 

modern 

64‐bit multi‐threadedd/multi‐core 

architecture 

annd 

efficient 

handlinng 

of data storage, retrrieval, 

processsing, 

and 

dissemination. 

Main OOffice 

24704 VVoorhees 

Drive 

Los Altoos 

Hills, CA 940022 

Other LLocations 

New Yoork, 

USA 646.360.1247 

Californnia, 

USA 650.941.1728 

Londonn, 

UK 44.20.33884. 

2676 

Repressentative 

Cliennts 

• Scoottish 

Power 

• PSEG 

Websitte 

http://wwww.abacussoolutionsinc.comm 

20




Vendorr 



AAllegro, 

Veersion 

8 

AAllegro 

Deveelopment, 

In nc 

11445 

Ross Avennue, 

Suite 2200 0 

DDallas, 

Texas 775202 

USA 

onal Inc. 

Maarkets/Geog 




Allegro is onee 

of the top fiv ve vendors in thhe 

ETRM spacee 

according too 

the most recent 

CommodittyPoint 

Vendorr 

Perception study. 

Allegro ranked third ooverall 

in termss 

of brand reccognition 

and fourth f in termms 

of perceivedd 

market leaddership. 

Its lon ngevity in thee 

industry is a 

major factorr 

in market leadership l perrceptions. 

It iss 

better knownn 

in North Ame erica where it ranked secondd 

for brand reccognition. 

Allegro rankks 

between th hird and fifthh 

in all majorr 

functional caategories 

in tha at study and allso 

is perceivedd 

to be the market 

leader for f reporting aand 

second forr 

integration. 



AAllegro 

Development 

was founded 

in 19844 

by current CEO 

EEldon 

Klaassenn. 

It has been n a very innoovative 

compaany 

mmoving 

swiftly to add functio onality as the industry evolvved 

aand 

matured. It was also arguably a the ffirst 

major TRRM 

vvendor 

to migrrate 

to a SOA architecture a wwhich 

allowed tthe 

ccompany 

to add 

new compon nents to its sofftware 

rapidly. 

AAllegro 

version 8 is a broad platform p that inncorporates 

TRRM 

ffunctionality 

for multiple markets inccluding 

energgy, 


21




Vendorr 



aagricultural 

annd 

environme ental commoddities. 

Allegro 8 

ssupports 

grid computing, providing p real‐time 

valuatioon, 

sscheduling, 

and 

settlement; enabling businesses 

to moore 

eeasily 

scale pprocessing 

capabilities 

to match growiing 

pportfolios. 

AAllegro 

8 utilizes 

standardized 

connectivvity 

componennts 

that 

allow seaamless 

integration 

of commponents 

in aany 

ccombination 

soo 

that the scop pe of the soluttion 

matches tthe 

sscope 

of busineess 

objectives. . Allegro also delivers partner‐ 

ddeveloped 

integration 

com mponents thatt 

provide direect 

cconnectivity 

too 

sources like 

Platts, Logical 

Information 

MMachines 

(“LIMM”), 

integratio on with SAP, and commoddity 

eexchanges. 

FFunctionality 

iss 

delivered via ‘components’ ’ which plug innto 


overall AAllegro 

archite ecture and can 

be bundlled 

together 

to serrver 

specific en nd user markett 

needs. 

CComponents 

innclude: 

• Barge 

• Contracts 

• Credit 

• Currency 

• Emissions 

• ERP Connecct 

• Equity Production 

• Exchange Coonnect 

• FERC Conneect 

• Fractionatioon 

• Generation 

• Hedge 

• Liquid Natural 

Gas (LNG) 

• Natural Gass 

Gathering 



Processing 

• Net Valuatioon 

• NETA Conneect 

onal Inc. 

• Optimiization 

• Petroleeum 

Blending 

• Pipelinne 

• Positioons 

• Power 

• Price CConnect 

• Properrty 

• Rail Reetail 

Natural Gaas 

• Retail Power 

• Revenuue 

• Settlemment 

• Simulaation 

• Systemms 

Admin 

• Trade Execution 

• Trade SStrategy 

• Truck 

• Vessel 

• Workfllow 

These components are bundled together in 

address 

the needs ennd‐user 

marketts 

such as: 

• Nattural 

Gas 

• Petroleum 

• Powwer 

• Coaal 

• Agrriculture 

• Commmodity 

Consuumers 

Other software coomponents 

hhandle 

conneectivity 

to 

externaal 

and internal 

data sourcess. 

Allegro 8 alsso 

features 

work flow, 

audit 

and security along with online reeporting. 

Main OOffice 

1445 Ross 

Avenue 

Suite 2200 

Dallas, TX 75202, 

USA 

+1.2144.237.8000 

+1.8888.239.6850 


Cliennts 

• Aces 

Power Markketing 

• Arcch 

Coal 

• Atmmos 

Energy 

• Boord 

Gais 

• Endesa 

Italia 

• ExxxonMobil 

• Huunt 

Refining 

• Koch 

Minerals 

• Sinngapore 

Petroleum 

• TraansCanada 

Pipelines 

Websitte 

http://wwww.allegrodeev.com 

Advertisement 


Other Locattions 

Houston + 1.713.650.6877 

Calgary +1. 403.705.4171 

London +444(0)20.7382.43310 

Zurich +41( (0)44.211.92.00 

Singapore + +65.6236.57300 

order to 

22




Vendorr 



SSymphony, 

AAmphora, 

Innc. 

22500 

CityWest Boulevard 

SSuite 

750 

HHouston, 

TX 777042 

onal Inc. 

y, (Version num mber not proviided) 

Maarkets/Geog 




Amphora ra 

perception 

Perception S 

America and 

known. 

Amphora also 

crude oil (3 rd 

anked 7 

commodities 

th ove 

in Commod 

Study. Amph 

d 10 th in Europ 

o ranked as a 

d 

), refined pro 

(4 th erall in term 

dityPoint’s 2 

hora ranked 

pe where they 

perceived mar 

oducts (5 

). 

th ms of vendor 

2009 Vendor 

8 

) an 

th r 

r 

in Northh 

y are less welll 

rket leader forr 

nd Agriculturall 



FFounded 

in 19997, 

Amphora a, Inc. is a gloobal 

provider of 

ssoftware 

solutiions 

designed and developeed 

for companies 

inn 

the field of commodity tra ading and risk management. 

It 

pprovides 

the ttrading 

commu unity with an enterprise‐wiide 

EETRM 

softwaree 

package. Its products p target 

energy tradinng, 

loogistics 

and rrisk 

managem ment in the gglobal 

crude ooil, 

rrefined 

products 

and energy derivatives maarketplace. 

AAmphora 

markkets 

a number of o products inccluding: 

• Symphhony 

– An en nd‐to‐end ETRM 

solution thhat 

offers robust 

function nality and mmanages 

cliennts 

Futures, Exchange 

Optio ons, OTC Optiions, 

Swaps and 

Physicals inn 

a single platf form. 


23




Vendorr 



onal Inc. 

• Maesttro 

– A risk ma anagement moodule 

that can be 

integrated with Symphon ny. 

• Fleetimme 

– A transp portation management 

systeem 

that manaages 

all variou us oil productts 

transportation 

phases rannging 

from th he contractual 

activity to tthe 

costs finalization. 

It also 

manages the operationnal 

logistics arrea 

referred to as maritime trransportation. 

• MarkeetConnector 

‐ Provides P tradeers 

and mid/baack 

office stafff 

with immedia ate access to ttrades 

concludded 

on the Intercontinent tal Exchange (ICE), Chicaago 

Mercantilee 

Exchange (CM ME), and New York Mercanttile 

Exchange (NYMEX), in a single agggregated 

vieew. 

Concludedd 

trade data can c then be ffed 

directly innto 

various intternal 

and thi ird party risk control systemms 

such as Amphora’s 

flag gship productss 

Symphony and 

Maestro foor 

straight‐thro ough processinng. 

SSymphony 

wass 

engineered to be a compplete 

and worrld‐ 

cclass 

transactioon 

managemen nt platform suuitable 

for use by 

laarge 

and mid‐ssize 

trading co ompanies. It emmploys 

advancced 

technology 

alllowing 

its cli ients to accuurately 

evaluaate 

trading 

opporttunities 

and market m positioons 

in real‐timme, 

ddetermine 

accceptable 

risk levels, responnd 

to regulatoory 

rrequirements, 

and improve the overall prroductivity 

of its 

trading 

teams. 

SSymphony 

connnects 

the numerous n bussiness 

functioons 

wwithin 

commodity 

trading co ompanies intoo 

a single systeem 

that 

uses one common data abase. The sysstem 

supportss 

a 

vvariety 

of pricing 

models, including 

complex 

formulas and 

mmultiple 

settleement 

types. It provides accurate 

position 

rreporting 

and PP&L 

by busine ess unit and can 

be customizzed 

to 

accommoddate 

specific business proocesses 

withoout 

pplacing 

unneccessary 

const traints on thhe 

organizatioon. 

SSymphony 

provvides 

a unified d risk infrastructure 

for markket 

aand 

credit riskk 

managemen nt. Its risk maanagement 

tools 

eenable 

Risk MManagers 

to evaluate the company’s rrisk 

pposition, 

hedgging 

strategies s and market exposures and 

pprovide 

detaileed 

and timely y information about positions, 

VVaR, 

and portfoolios. 

Ad dvertisement 

Key feaatures 

include: 

• Trade Capture 

• Portfolio Maanager 

• Scheduling aand 

Distribution 

• Contract Generation 

• Complex Forrmula 

pricing 

• Order and Fiill 

Capture 

• Global Bullettin 

Board 

• Pricing Appliication 

• TradeSearchh 

and Deal Viewwer 

• Invoicing andd 

Commercial Accounting 

• Credit Vieweer 

• Portfolio Analysis 

• Value at Riskk 

(VaR) 

• SOX & FASB Compliance 

Symphony 

employs a three tier client serverr, 

offering 

access via both deskttop 

GUI appliccations 

as well as service 

based interfaces (Eg. 

pricing feedss, 

real time daata 

update 

notificaations, 

etc). TThis 

approach provides the ability to 

secure mission criticcal 

data behinnd 

firewalls annd 

provide 

access to that data thhrough 

a midddle 

tier that exposes 

only 

specifieed 

services. Additionally, , the servicce 

based 

architecture 

permitss 

customers tto 

build front 

ends or 

processses 

that interaact 

and augmeent 

the systemm 

to meet 

custommer 

specific neeeds. 

Main OOffice 

2500 CityWest 

Boulevvard 

Suite 750 

Houstoon, 

TX 77042 

+1.713.339.5600 


Cliennts 

• Chinaoil 

• Koch 

Supply & Trrading 

• PetroPlus 

Holdings 

• Sinnclair 

Oil 

Websitte 

‐ http://wwww.amphorainc.com 


Other Locations 

Rome, , Italy 

+39.066.5483.2023 

Pradessh, 

India 

24




Vendorr 



AAspect 

ETRRM, 

Versio on ASP 

AAspect 

Enterrprise 

Soluti ions, LTD 

CCastlewood 

Hoouse 

777‐91 

New Oxfford 

Street 

LLondon 

WC1A 1DG 

onal Inc. 

Maarkets/Geog 




Aspect has a relatively y low unprommpted 

brandd 

recognition inn 

North Amer rica in the CoommodityPointt 

2009 Vendor Perception stu udy. They alsoo 

ranked in thee 

lower third off 

vendors on a prompted namme 

recognitionn 

basis. 

However, since 

that study was undertakeen, 

Aspect hass 

been rebrandded 

(from Oil lSpace) and have 

increasedd 

their visibilityy 

quite consid derably and are 

one of thee 

market leadeers 

in SaaS delivery d of ETTRM 

software, , 

particularly foor 

crude centri ic market segmments. 



AAspect 

was fouunded 

in 1999 9 and was prevviously 

known as 

OOilSpace. 

It offfers 

a SaaS (So oftware as a Service) 

deliverred 

EETRM 

solution 

which del livers front to back office 


foor 

most energy y commoditiess. 

The solutionn 

is 

eentirely 

web‐baased, 

utilizes a modern SOA architecture and 

OOLAP 

technologgy. 

TThe 

company supplies a number 

of prooducts 

includiing 

AAspectDSC, 

a WWeb‐based 

info ormation and decision suppoort 

ssystem 

for traaders, 

which supports a bbroad 

basket of 


25




Vendorr 



onal Inc. 

ccommodities, 

TTradeFlo, 

a deal 

capture system, 

and Aspeect 

EETRM, 

a fully fledged 

ETRM solution. 

AAspect 

ETRM inncludes 

the following 

functioonality 

at a highh‐ 

leevel: 

Front Officce: 

• The Asspect 

ETRM de eal capture proocess 

handles 

physical annd 

financial tra ading contractss 

along with 

position mmanagement. 

• With ccustomizable 

screens, 

traders 

can tailor theeir 

screen as ddesired. 

• This cooupled 

with se ecurity parameeters 

and 

workflows creates a muc ch bespoke appplication 

to fit 

the compaany’s 

business processes. 

Middle Offfice 

• Managging 

and repor rting risk expossure 

• Real‐time 

profit and loss reportingg 

in trade 

managemeent 

component 

Back Officee 


control and d planning moddule 

allows 

creating neecessary 

repor rts on income ffor 

any chosen 

period. 

• Accounting 

functions 

• Settlement 

AAspect 

ETRM ccomprises 

of a number of funnctional 

modules 

inncluding: 

• Trade – manages de eal entry through 

to back‐office 

settlementt. 

• Risk – an energy ris sk trading systtem 

that can be 

provided stand‐alone. 

• Operaations 

– manag ges movementts, 

payments and 

costs assoociated 

with operating o the enterprise and 

interactingg 

with counterparties. 

It can also be providded 

stand‐alonne. 

• Price MManager 

– Used 

to consoliddate 

and suppoort 

a global prrice 

forecasting g process. 

• Inventtory 

Manager – Allows comppanies 

to manaage 

volume aand 

inventory y control aggainst 

changiing 

portfolios aand 

physical movement m in reeal 

time. 

Use of the Saas depployment 

model 

means thatt 

all users, 

and all client compannies, 

utilize a single 

code basse 

and that 

implemmentations 

are short and fast 

while the cost 

of entry 

and tootal 

cost of owwnership 

are significantly loower 

than 

traditioonally 

licensed solutions. 

Main OOffice 

Castlewwood 

House 

77‐91 NNew 

Oxford Street 

Londonn 

WC1A 1DG 

+44 20 7632 0170 


Singapoore: 

+65 6738 6525 

Moscoww: 

+7 495 925 7245 

USA: +11 

212 904 07400 


Cliennts 

• Bluee 

Oil 

• Cirrus 

Oil 

• Lineetrale 

• Lemmvig 

Oil Tradingg 

SA 

• Tusccan 

Petroleumm 

Websitte 

http://wwww.aspectennterprise.com 


26




Vendorr 



AAquarius 

BBrady 

PLC 

2281 

Cambridgee 

Science Park 

MMilton 

Road 

CCambridge 

UK CB4 0WE 

onal Inc. 

Maarkets/Geog 




Brady rankedd 

13 

for unpromp 

better know 

America. Aqu 

of European 

th in the 20 009 Vendor Per 

ted brand reco ognition. Howe 

in Europe whe ere it ranked 7 

uarius was reco 

respondents. 

t 

rception study 

ever, it is muchh 

th 

than in Northh 

ognized by a smmall 

number 

Brady Aquarrius 

was also ra anked as a marrket 

leader for 

Base Metals, , for integratio on and cost effeectiveness. 



BBrady 

has moore 

than 25 years of hisstory 

in serviing 


maarkets 

including g Base, Preciouus 

Metals & Raaw 

MMaterials, 

Energy 

including Oil, O Coal and GGas 

and Softs. . It 

hhas 

over 100 customers worldwide, w inccluding 

financcial 

innstitutions, 

trading 

compan nies and mininng 

corporations. 

BBrady 

is a publlic 

company an nd had revenuues 

of just over 

6 

mmillion 

GBP for 

the financial 

year ending 31/12/2008 and 

aanticipated 

aboout 

30% revenue 

growth in 22009. 

In 

January 20009, 

Brady acq quired Commoodities 

Softwaare 

( UK) Ltd (ComSSoft), 

a compa any founded inn 

1994 to markket 

aand 

support Aqquarius. 

Comso oft operates ass 

an independeent 

pproduct 

managgement, 

delive ery, support and 

developmeent 

uunit 

within Brady. 


27




Vendorr 



onal Inc. 

AAquarius 

was ooriginally 

deve eloped in a livee 

mining, tradiing 

aand 

smelting organization and providess 

a solution to 

ccompanies 

seeeking 

to manag ge their metal assets from raaw 

mmaterials 

at the 

mine thro ough trading aand 

smelting to 

rrefined 

finisheed 

products. It comprisess 

a number of 

mmodules 

includding; 

• Contraact 

administration 

‐ Enables the capture and 

administraation 

of all short 

term sppot 

contracts or 

medium/loong‐term 

fram me contracts. Commodities 

included aare 

raw mate erials (concenttrates 

and ores, 

blister), byy 

products (slim me, slags, residdues) 

and bullion 

(scrap, refiined 

metal, pre ecious metals) . 

• Profit & Loss ‐ Incorporating 

heedging 

results to 

provide reaalized 

and unrealized 

reportiing. 

• Invoicing 

‐ facility fo or production of raw materials 

and metalss 

invoices cove ering: 

• Mulltiple 

provision nal and final invvoices 

• Mulltiple 

pricing periods, fixeed 

content and 

tonnnage 

• Brick 

invoices, pro o‐formas, L/C compatible 

• Autoomatic 

credit/ debit notes generation 

• Lot by lot invoices, 

invoice receeipts 

and debttor 

lists. 

• Assay Exchange ‐ Co ombines contraactual 

terms with 

entered ddata 

to determine 

final weeighted 

averaage 

results for each shipment 

metal. 

• Corporate 

Treasury ‐ generic corrporate 

treasuury 

requirements, 

including g foreign exxchange, 

monney 

market annd 

cash man nagement functions 

includiing 

accounts ppayable 

and rec ceivable. 

• Shippiing, 

Reporting & Position Keeeping 

‐ moduule 

incorporattes 

a suite of reports to ennable 

up to tthe 

minute moonitoring 

of shi ipments and thheir 

status. 


• Position Keeeping 

& Risk MManagement 

‐ Creates a 

Position 

Report sshowing 

the sttock 

levels andd 

locations 

forr 

specific raw mmaterials. 

• Value at Risk 

‐ optional 

VaR enginee 

which is 

optimized 

for thhe 

specific requirements 

of tthe 

metals 

inddustry 

Brady ooffers 

a full suuite 

of consultting 

and impleementation 

services, 

training andd 

support and mmaintenance. 

Main OOffice 

281 Cambridge 

Science 

Park 

Milton Road 

Cambriidge 

CB4 0WE 

Tel: +444 

(0)1223 4794479 


Londonn 

‐ Tel: +44 (0)220 

7002 1619 

Philadeelphia 

‐ Tel: +1 610‐941‐27800 

Paris ‐ TTel: 

+33 1 45 226 

59 37 

Singapoore 

‐ Tel: +65 66725 

6503 

Genevaa 

– Tel: +41 22 8691000 


Cliennts 

• Aleeris 

• Assarco 

• BGGC 

• Cootton 

Distribuutors 

Incc 

• Duunavant 

• HSSBC 

• Louis 

Dreyfus 

Coommodities 

Suisse 

SAA 

• Maalteurop 

• Maarex 

Commoddities 

• Meetinvest 

Websitte 

http://wwww.bradyplcc.com 

• 

• 

• 

• 

• 

• 

• 

• 

• 

• 

• 

Mitsubishi 

Novelis Inc. 

Prysmian Group 

Standard Bank 

Sucden Finanncial 

Toyota Tsushho 

Metals 

Trafigura 

Rio Tinto Alccan 

Rosbank 

Telf AG 

Xstrata Coppper 

28




Vendorr 



TTrinity, 

Verrsion 

2010 0 

BBrady 

PLC 

2281 

Cambridgee 

Science Park 

MMilton 

Road 

CCambridge 

UK CB4 0WE 

onal Inc. 

Maarkets/Geog 




Brady rankedd 

13 

for unpromp 

better know 

America. 

th in the 20 009 Vendor Per 

ted brand reco ognition. Howe 

in Europe whe ere it ranked 7 t 

rception study 

ever, it is muchh 

th 

than in Northh 

Brady was allso 

perceived to 

be a market leader in 

Precious Mettals 

and Base Metals. M 



BBrady 

has moore 

than 25 years of hisstory 

in serviing 


maarkets 

including g Base, Preciouus 

Metals & Raaw 

MMaterials, 

Energy 

including Oil, O Coal and GGas 

and Softs. . It 

hhas 

over 100 customers worldwide, w inccluding 

financcial 

innstitutions, 

trading 

compan nies and mininng 

corporations. 

BBrady 

is a publlic 

company an nd had revenuues 

of just over 

6 

mmillion 

GBP for 

the financial 

year ending 31/12/2008 and 

aanticipated 

aboout 

30% revenue 

growth in 22009. 

TTrinity 

is a single integra ated supply chain and rrisk 

mmanagement 

ssolution. 

It offers 

a range off 

features acrooss 

dderivatives, 

phhysicals 

and treasury andd 

is capable of 

hhandling 

all sttages 

of a tra ansaction fromm 

front to baack 

ooffice. 

It addreesses 

all metals s, energy and ssoft 


aas 

well as assoociated 

foreign n exchange andd 

money markket 


29




Vendorr 



onal Inc. 

rrequirements 

in a single, fully integratted 

platform. It Repressentative 

Cliennts 

inncludes 


functio onality: 

• Aleeris 

• Sales and Procurement Planning 

• Contract MManagement 

• Transporttation 

and Sche eduling 

• Material aand 

Resource Management 

M 

• Global Traade 

Manageme ent 

• Pricing Screens 

and Dea al Support 

• Trader Toools 

and Analyt tics 

• OTC and EExchange 

Products 

• 

• 

• 

• 

• 

• 

• 

Assarco 

BGGC 

Cootton 

Distribuutors 

Inc 

Duunavant 

HSSBC 

Louis 

Dreyfus CCommodities 

Suisse SA 

Maalteurop 

• Capital Markets 

• Maarex 

Commoddities 

• Pricing annd 

Transaction Capture 

• Meetinvest 

• Middle Offfice 

• Miitsubishi 

• Risk Manaagement 

• Operationns 

Managemen nt 

• 

• 

Noovelis 

Inc. 

Pryysmian 

Groupp 

• Staandard 

Bank 

MMain 

Office 

• Sucden 

Financiaal 

2281 

Cambridgee 

Science Park 

• Tooyota 

Tsusho Metals 

MMilton 

Road 

CCambridge 

CB44 

0WE 

TTel: 

+44 (0)1223 

479479 

• 

• 

• 

Traafigura 

Rioo 

Tinto Alcan 

Roosbank 

OOther 

Locationns 

LLondon 

‐ Tel: + 44 (0)20 7002 1619 

• 

• 

Teelf 

AG 

Xstrata 

Copper 

PPhiladelphia 

‐ TTel: 

+1 610‐941 1‐2780 

PParis 

‐ Tel: +33 1 45 26 59 37 

Websitte 

SSingapore 

‐ Tel: 

+65 6725 650 03 

GGeneva 

– Tel: + +41 22 8691000 

http://wwww.bradyplcc.com 


30




Vendorr 




Bulldoog, 

Version n 3.0 

CComfin 

Softwware 

& Cons sulting Services 

Gmbh 

WWollzeile 

6‐8 

11010 

Vienna, AAustria 

Maarkets/Geog 




Comfin camee 

to Commodity yPoint’s attenttion 

last year 

as a result off 

a mention the e company gott 

in the 2009 

Vendor Perceeption 

study. While W they did nnot 

rank in 

that study, CComFin 

does ha ave a significannt 

presence in 

the market foor 

crude oil and 

products andd 

it has been 

significantly more visible in n the market ovver 

the last 12‐ ‐ 

months. 

CommodityPPoint 

fully expects 

ComFin to have made 

significant prrogress 

in term ms of perceptionn 

in the next 

Perception Sttudy 

planned for f later in 2010. 

\ 

onal Inc. 



CComFin 

is a JBCC 

Vienna GmbH 

company. TheBullDog 

CTRRM 

ssoftware 

soluttion 

was first developed inn 

1999 by PVVM 

VVienna. 

ComFinn 

was created in 2005 to suppport 

and markket 


software ass 

a subsidiary of o PVM Viennaa 

which was itsself 

rrestructured 

in 2008 and rena amed to JBC VVienna. 


providees 

software so olutions and coonsulting 

servicces 

to 

the commmodity 

and energy indusstries. 

ComFin’s 

TTheBulldog 

software supports ttrading, 

traade 

aadministration, 

, operations, risk r management, 

back officce, 

ffinance, 

storagge, 

logistics, an nd reporting ffor 

companies in 


31




Vendorr 



onal Inc. 


crude oil, chemical, pe etrochemical, soft commodiity, 

sshipping, 

and refined produ uct industries. . It covers booth 

pphysical 

transactions 

and pap per instrumentts. 

TTheBulldog 

proovides 

automa atic market quote 

downloaads 

ffrom 

data venddors 

and excha anges such as PPlatts, 

Argus, ICCE, 

aand 

NYMEX. 


offers sseveral 

software 

componentts 

as follows: 

• TheBullDogg 

Oil – A fully y fledged CTRRM 


inncorporates; 

o Deal 

capture 

o Analysis, 

operat tions and admiinistration 

o Innventory 

management 

o Limits 

managem ment (trading, ccredit) 

o Riisk 

management 

(positions, sstress 

testing, 

VaR) 

o Coontrol 

and full audit trails 

o Automatic 

mark ket data downlload 

(Platts, 

PVM FForward 

Curves, 

Imarex, etc.) ) 

o Innvoice 

management 

o Innterfaces 

to 3rd d party systemms 

(SAP, Navisioon, 

etc.) 


Marine ‐ A module thaat 

provides tthe 


rrequired 

by shipping s comppanies 

includiing 

dderivatives. 


Agriculture – A module foor 

producers and 

mmanufacturers 

of agricultural l commodities 


Finance – A module tthat 

covers tthe 

treasury 

functioon. 


also offers 

a variety y of consultingg 

services in tthe 

ffollowing 

areass: 

• Integrationn 

and interface e solutions (e.gg. 

to 3rd party 

ssystems 

like SAAP, 

Navision) 

• Market datta 

access & data 

download services 

• Correlationn 

and volatility y calculations 

• Risk managgement 

metric cs 

AAdvertisement 

• Timme 

series analyysis 

• Heedge 

accountinng 

and efficienccy 

tests (IAS 399) 

Maain 

Office 

Woollzeile 

6‐8, 

10 10 Vienna, Ausstria 

+443 

1 513 4704 

Other 

Locations 

Sinngapore 

+65 6882 

313 24 

Reepresentative 

CClients 

• A.P. Moller – Maersk, Denmark 

• BASF Intertrade, 

Switzerland 

• DELTAGRIP LLIMITED, 

UK 

• GRUPA LOTOOS, 

Poland 

• PETROGAL, PPortugal 

• PETROSA, Soouth 

Africa 

• ROMPETROLL, 

Romania 

• SASOL OIL, SSouth 

Africa 

• TORM, Denmmark 

• LITASCO, Swwitzerland 

• ENOC, Dubai 

• PETROL OFISSI, 

Turkey 

• TEEKAY SHIPPPING, 

Canada 

• PTT, Thailand 

• OVERSEAS SHIPHOLDING 

GGROUP, 

USA 

• GAZPROM NNEFT 

TRADING, , Austria 

• ESSAR OIL, Inndia 

• VECTOR ENEERGY, 

Switzerlaand 

• HINDUSTRAN 

PETROLEUMM 

CORPORATIOON, 

India 

• OANDO PLC, , Nigeria 

• ARGOS GROEP, 

The Netherlands 

Weebsite 

htttp://www.commfin.net 


32




Vendorr 



e 

CContigo 

Ltd 

enTrader, ( (version not provided p by vvendor) 

BBlythe 

Valley Innnovation 

Cent tre 

CCentral 

Boulevaard 


Valley Business 

Park 

SSolihull, 

West MMidlands, 

UK 

BB90 

8AJ 

Maarkets/Geog 


\ 

onal Inc. 



Contigo is a relative newco omer to the CCTRM 

softwaree 

arena; althhough 

this UK‐based software 

andd 

consultancy firm has been offeering 

customm 

developmentt 

for some time e. 

In 2009, Conntigo 

began marketing m a seet 

of productss 

that it had progressively developed vvia 

its customm 

software business. 




is a software and d consultancyy 

business thhat 

sspecializes 

in aapplication 

dev velopment forr 

the energy and 

uutilities 

industry. 

Contigo was w founded bby 

a group of IT 

eexperts 

who haad 

worked in th he UK energy ttrading 

sector. 

RRecently, 

the ccompany 

has brought b a set of new products 

to 

market incluuding: 

EnTrader – an energy tra ading application 

that supports 

cross‐commmodity 

deals for power, cooal, 

oil, gas, and 

biomass. Itt 

includes mod dules for billing 

and paymennts, 


33




Vendorr 



service ccontracts, 

an nd connectinng 

to tradiing 

exchanges. 

EnVoy – EnVoy sup pports UK ppower 

industtry 

notificationns 

to Elexon an nd National Grrid. 

Managemeent 

of ECVN, PPhysical 

Notifi ication (IPNs / FPNs) and BBid‐ 

offer data submissions is s provided. It ccan 

be integratted 

with EnTraader 

or any oth her ETRM soluttion. 

EnVoy Inteerruption 

‐ prov vides UK Gas SShippers 

with tthe 

capability to manage the t process aaround 

bids ffor 

interruptioon, 

and handle 

all data flows 

related to 

Interruptioon 

Reform. 

EnVision ‐ brings togeth her reporting, online analytical 

processingg 

(OLAP) and 

data minning 

capabilities 

targeted foor 

the energy and a utility induustries. 


continues 

to offer a variety of consulting 

servicces 

inncluding 

appliccation 

develop pment, mathemmatical 

modeliing 

aand 

optimizattion, 

busines ss intelligencee 

and geneeral 

cconsultancy. 

MMain 

Office 


Valley Innnovation 

Cent tre 

CCentral 

Boulevaard 


Valley Business 

Park 

SSolihull 

WWest 

Midlandss 

BB90 

8AJ 

+ +44 (0)8458 3886848 

onal Inc. 


Cliennts 

• Centrica 

• EDDF 

• E.OOn. 

UK Tradingg 

& Power Techhnology 

• Scootia 

Gas Netwoorks 

• Scoottish 

& Southern 

Energy 

• Wiingas 

UK 

Websitte 

http://wwww.contigo.cco.uk 


34




Vendorr 



GGasPro, 

Veersion 

5 

DData 

Managgement 

Solutions 

Corp. 

7707 

Hunters Crreek 

Way 

HHockley, 

TX 774447 

onal Inc. 

Maarkets/Geog 




DMS registerred 

on the 200 09 Commodity 

Perception sttudy 

for unpro ompted brand 

North Americca 

only and wa as 20 

prompted bassis. 

th yPoint Vendorr 

recognition in 

in Northh 

America on a 

The companyy 

is a relativel ly low key, Hoouston, 

Texas‐ ‐ 

based vendoor 

specializing g in the North 

American 

natural gas mmarkets, 

but has 

a long histoory 

of deliveryy 

having been ffounded 

in 199 93. Their clientt 

base includess 

producers, gaas 

trading orga anizations, andd 

LDC/Utilities. 

Their produccts 

are prima arily delivered in a hostedd 

environment. 



GGasPro 

is maarketed 

by Data D Manageement 

Solutioons 

CCorporation 

(DDMS). 

GasPro o provides a front‐to‐back 

ggas 

mmanagement 

system with 

operationaal 

functionallity 

ddesigned 

to assist 

personne el involved in the process of 

trading, 

schedduling, 

trackin ng, storing, accounting and 

rreporting 

naatural 

gas transactions. Transactionnal 

innformation 

floows 

in real‐tim me through frront, 

middle and 

bback 

offices. 


includes 

a number of modules as foollows: 


35




Vendorr 



• Sourcee 

Information n ‐ Provides a "Dashboarrd" 

presentatioon 

for the crit tical componeents 

in managiing 

transactionns. 

• Physiccal 

Market ‐ A set of processses 

designed to 

manage all 

gas transactio ons. 


Market ‐A A solution for 

managing rrisk 

that mainttains 

a direct tie 

to the physiccal 

books. 

• Controols/Complianc 

ce ‐Preventativve, 

detective and 

corrective Sarbanes‐Oxle ey Compliance. . 

• Security 

‐ Adminis strator defineed 

user acceess 

controls from 

view‐only to limited to full 

rights, as wwell 

as by screeen 

level 

• Advisoories 

– Event, User U or Specificc 

driven alerts 

• Accouunting 

‐Functio onality to recoord, 

control and 

analyze every 

transaction n. 

• Reporrts 

‐ GasPro of ffers comprehensive 

reportiing 

tools to ccreate 

everyth hing from ad‐hoc 

reports to 

industry sttandard 

reports. 

SSpecial 

servicess 

available include 

• Platts, , ICE, EDI Nomi inations, SCADDA 

• Nightly 

uploads, extr racts, snapshots 

onal Inc. 


may also be de eployed with the followiing 

ccomponents: 

• Legal Entities ‐ A co onsolidated loccation 

for storiing 

all informmation 

regarding 

3rd Paarties 

includiing 

corporate billing info ormation, conntacts, 

bankiing 

informatioon, 

business typ pes, and refereence 

numbers. . 

• Locations 

‐ A sing gle reference location for all 

informatioon 

pertaining to the pipeelines, 

includiing 

points, ggroups/mids/zo 

ones, matricces 

and tariff 

informatioon. 

• Contraacts 

‐ A tool for f tracking evvery 

type of ggas 

related contract (in ncluding purrchases, 

sales, 

GISB/NAESSB, 

linked purchasess, 

exchanges, 

Adveertisement 


traansportation, 

sstorage, 

OBA's, 

and imbalancce). 

Allows 

traacking 

of MDQQ's, 

demand aand 


charges, 

injection/withdraawal/in‐place 

charges and to set up 

any 

specialized bbilling 

informattion 

and notes. 

• Categories ‐ A specializedd 

tool to alloww 

for user‐ 

defined 

groupinggs 

of data thaat 

can be usedd 

to create 

company 

specificc 

cost reports. 

• Accounts ‐ Allows user‐defined, 

FERC compliant, 

GLL 

accounts for financial repoorting 

(assets, liabilities, 

exppenses, 

revenuues 

and equityy) 

to be createdd. 

• Account Linnks 

‐ Create uuser‐defined 

linkages 

to 

determine 

into which accounnts 

various trransactions 

and 

transaction ttypes 

will fall. This provides the ability 

to define splits based on LE, , contract, pooint, 

color, 

typpe, 

rate, commponent, 

actioon, 

service, ettc. 

It also 

proovides 


to split to multiple accouunts 

based 

on percentages. 

GasProo 

is a hosted Innternet 

deliverred 

system suppported 

by 

DMS’ IT support sttaff 

on a 244 

X 7 basis. The gas 

manageement 

systemm 

is offered on a User Licensse 

basis on 

either aan 

ongoing moonthly 

fee or a one‐time fee bbasis. 

Main OOffice 

707 Huunters 

Creek WWay 

Hockleyy, 

TX 77447 

Tel: 281‐516‐9435 


None 


Cliennts 

• "LDCCs 

and gas marrketers 

in North 

America" 

Websitte 

http://wwww.dmshousston.com 

36




Vendorr 



EET3000, 

Veersion 

3.9 

DDelta 

Energyy 

Solution AG 

PPeter 

Merian‐SStrasse 

90 

CCH‐4052 

Basel 

SSwitzerland 

onal Inc. 

Maarkets/Geog 




Delta Energ 

CommodityP 

mind catego 

it ranked 12 th 

gy Solution registered iin 

the 20099 

oint Vendor Pe erception studyy 

in the first too 

ory by virtue of f its position inn 

Europe wheree 

h 

. 



DDelta 

was founnded 

as a public 

corporation under Swiss laaw 

inn 

Basel in 1999. 

The majority 

of its shaares 

are held by 

mmembers 

of thhe 

Managing Board. B The objeective 

of Deltaa 

is 

to 

supply softtware 

and ren nder services for the enerrgy 

mmarket. 

DDelta 

Energy Soolution 

AG dev velops and disttributes 

softwaare 

ffor 

the energyy 

industry an nd offers assoociated 

services. 

DDelta’s 

produccts 

ET3000® (Energy Trading 

3000®) and 

EET3000RM 

(ETT3000 

Risk Management), 

M 

automate moost 

transactions 

coommonly 

perf formed in thee 

energy sector. 


system cann 

be configure ed for all aspeccts 

of the powwer 

inndustry 

(grid ooperation, 

trade, 

production, distribution). 

DDelta 

regularlyy 

offers new w releases takking 

account of 

topical 

issues and innovatio ons in the fieelds 

of portfollio, 


37




Vendorr 



sschedule, 

distrribution 

and meter m management 

as well as 

eenergy 

trading, , sales and risk k management. 

EET3000 

helps users to effi iciently carry out ever moore 

ccomplex 

businness 

processe es at the trrading 

desk, in 

ddistribution 

annd 

in grid ope eration. ET30000 

is specificaally 

ddesigned 

for scheduling and balancee 

management, 

pportfolio 

manaagement, 

trading, 

capacity mmanagement 

and 

mmeter 

management 

by energ gy suppliers. TThe 

software ccan 

bbe 

configured for use by (s sub‐)balance ggroup 

manageers, 

transmission 

syystem 

operators 

and control block managers. 

EET3000RM 

offfers, 

for ex xample, standdard 

evaluation 

mmethods 

for VValue‐at‐Risk 

(V VaR), simulation‐based 

Proffit‐ 

aat‐Risk 

(PaR), Mark to Market 

valuationn 

as well as an 

inntegrated 

Hoourly 

Price Fo orward Curvee 

generator. In 

aaddition, 

it supports 

export/ /import from and to Excel to 

ddisplay 

time seeries 

in a varie ety of formatss, 

and to impoort 

ddiverse 

markett 

data, such as an external HPPFC 

risk set (PaaR) 

ffrom 

Excel. 

EET3000 

includees: 

onal Inc. 

• A Conntract 

Management 

module to configure all 

contract types (tra ading contrracts, 

capaccity 

contracts,pproduction 

an nd retail) onn 

the basis of 

workflows and enter them 

with the corrrect 

time zonees. 

• Integrated 

Capacity y Managemeent 

to manaage 

energy poositions 

individual 

marketss 

and availabble 

cross‐bordder 

capacities. 

• Custommizable 

Workf folders to align 

and plan lonng‐ 

term activvities 

in mark kets. Capacities 

can be pre‐ 

nominatedd. 

• A moddule 

for planning 

and scheduling 

that allows 

users to align 

and balanc ce the day‐aheead 

market aloong 

with a possition 

screen to o show positioons 

for a speciific 

market. 

• Commmunication 

se ervices to aallow 

scheduule 

messages to be defined and processedd 

for dispatch to 

the TSO; thhe 

processing of messages caan 

be performmed 

automaticaally 

or manually. 

Main OOffice 

Peter MMerian‐Strasse 

90 

CH‐40552 

Basel 

Switzerrland 

Tel.: +441 

(061) 270 844 

40 


None 


Cliennts 

• Cittiworks 

• E.OOn 

• Enercity 

• ewwe 

• ewwz 

• LicchtBlich 

• MVVV 

Energie 

• Staatkraft 

• Swwissgrid 

• Vattenfall 

Websitte 

http://wwww.delta‐energy.ch 


38




Vendorr 



EEKA, 

(Versioon 

not provide 

EEka 

Softwaree 

Solutions Pvt Ltd 

ed by vendorr) 

116/1 

"Wings", 33rd 

Floor 

CCambridge 

Roaad, 

Ulsoor, Ban ngalore 5600088 

India 

onal Inc. 

Maarkets/Geog 




Eka is better known in Euro 

was ranked 117 

CommodityPo 

was ranked a 


. 

The product 

market lead 

Metals Com 

service/suppo 

th ope and Asia/PPacific 

where itt 

for unpro ompted brand recognition inn 

oint’s 2009 Vendor V Percepption 

Study. Itt 

as a perceived market m leader in Agriculturall 

s and Precious and a Base metaals 

was also ran nked among the perceivedd 

ders serving the t Agriculturral 

and Basee 

mmodities se egments, its architecture, , 

ort and ASP de elivery capabilitties. 



EEka 

was foundeed 

in 2004 and d is based in Inddia. 

It started llife 

pproviding 

TRMM 

solutions in the agricultural 


sspace 

and has subsequently migrated to ccover 

metals and 

ssome 

energy commodities 

to oo. The compaany 

employs 2210 

sstaff 

mainly baased 

in Banga alore but has recently openned 

ssales 

offices in the UK and US SA. 


Eka Commmodity 

Trade & Risk Manaagement 

(CTRM) 

SSolution 

coverss 

the complete e lifecycle of bboth 

physical and 

ffinancial 

commmodity 

contract ts 


39




Vendorr 



onal Inc. 

EEKA’s 

CTRM soolution 

for agr riculture and ssoft 


pprovides 

a singgle 

platform fo or managing ooperations 

acrooss 

ccoffee, 

cocoa, sugar, cotto on, orange juice, 

tea, Grains 

[ Wheat, Soya, Maize, Rice, Barley, B etc], Feeeds, 

Edible oils, 

OOilseeds, 

Livestock, 


Agri‐based businesses. TThe 

ssolution 

is inteended 

to mee et the needs of the differeent 

pparticipants 

in the supply ch hain, includingg 

trading houses, 

eelevators, 

distrributors, 

proce essors, exporteers, 

farmers and 

immporters. 


Eka CTRM software for Metals provides 

a solution ffor 

mmanaging 

tradee 

in base meta als and concenntrates. 

It coveers 


complete life cycle of f both physicaal 

and financcial 


contracts, covering c physical 

tradinng, 

dderivatives, 

poosition 

manag gement, mark to market and 

PP&L, 

logisticss, 

stocks, documentation, 

finance and 

rreporting. 


system mana ages the compplete 

lifecycle of 

pphysical 

and dderivative 

trad ding for all LLME 

and Commex 

traded 

base mmetals 

(Aluminum, 

Aluminumm 

Alloy, Copper, 

ZZinc, 

Lead, Nickel 

and Tin) . Eka also provides 

solutioons 

cconfigured 

forr 

Concentrates s and Ferro aalloys, 

LME and 

NNYMEX 

futurees 

in steel, and 

for the mmetal 

scrap and 

rrecycling 

industry 

EEKA’s 

CTRM ssolution 

is also 

configured to manage tthe 

rrequirements 

oof 

marketers, consumers annd 

processors in 


Energy Inddustry. 

The sco ope of this solution 

covers tthe 

pprocurement 

oof 

raw materia al, transportation 

and storagge, 

pprice 

risk manaagement 

with futures and ooptions, 

mark to 

mmarket 

and P&L calculations, 

as welll 

as sales and 

ddistribution 

of the finished product. p Curreently, 

the systeem 

ssupports 

Coal, biofuels and ethanol. 

AAs 

a relativelyy 

new entry into i CTRM sooftware, 

Eka hhas 

taken 

advantagge 

of newer technologies t 

and 

architecturres 

ffrom 

which too 

build its pro oduct suite. Eka’s 

multi‐tierred 

aarchitecture 

iss 

comprised of o a front‐endd 

user interfaace 

laayer, 

a midddle 

layer of business loggic, 

a back‐eend 

ppersistent 

(dattabase) 

layer, and an embedded 

reportiing 

tool. 

Main OOffice 

16/1 "WWings", 

3rd Flooor, 

Cambriidge 

Road, Ulsooor, 

Bangaloore 

560008 

India 

+91‐800‐41715949 


Londonn: 

+44 208 9433 

3834 

Conneccticut, 

USA: +11 

203 810 42500 

Selecteed 

Clients 

• AWWB 

• Gaarmco 

• LouisDreyfus 

• Meedsofts 

• Nooble 

Group 

• Remia 

• Superior 

Essex 

• Traaxys 

• Tristao 

Web site 

http://wwww.ekaplus. 

com 


40




Vendorr 



EEMK3 

Upsttream, 

Ver rsion 9.1 

EEMK3 

4400 

Mann St. 

SSuite 

700 

CCorpus 

Christi, TX 78401 

onal Inc. 

Maarkets/Geog 




EMK3 suppliees 

software in the producer ssegment 

of thee 

industry andd, 

according to t our researrch, 

has somee 

degree of prompted br rand recognittion 

in Northh 

America in liine 

with its rel latively limitedd 

segment andd 

geographic ccoverage. 



EEMK3 

was founded 

in 2000 to provide soolutions 

designned 

sspecifically 

forr 

oil & gas pr roducers, marrketers 

and first 

ppurchasers. 

EEMK3's 

software 

managess 

all upstreaam 

mmarketing, 

gathering, 

and tr ransportation aactivity 

from tthe 

wwell 

to the salees 

points. 

EEMK3 

offers twwo 

application suites designeed 

specifically ffor 

eenergy 

compannies 

that produ uce, gather, traansport, 

proceess, 

aand 

market oil, , natural gas, and a NGLs; EMKK3 

Upstream – an 

uupstream 

marketing 

application 

suite for produceers, 

mmarketers, 

andd 

first‐purchas sers and EMK33 

Midstream – a 

ppipeline 

operaations 

applicat tion suite forr 

gathering and 


system operat tors. 

EEMK3 

Upstream 

is an energ gy marketing aapplication 

suite 

ffor 

Oil, Gas and 

NGLs, startin ng at the wellhead. 

The EMMK3 

UUpstream 

application 

suite co omprises a nummber 

of modules 


41




Vendorr 



onal Inc. 

that 

can be coombined 

to provide p a commplete 

marketiing 

aapplication 

soolution 

suited 

for smalll 

to mid‐sizzed 

inndependent 

pproducers 

to large integratted 

oil and ggas 

ccompanies. 


modules include: 

• Systemm 

Administrat tion and Inteernal 

Controls – 

Basic set up 

information for the systemm. 

• Markeet 

Data Module 

‐ Monitors key oil, gas and 

NGL pricinng 

information n for both US 

and Canadiian 

markets. 

• Oil & Gas Supply Module M ‐ Storres 

basic suppply 

point inforrmation 

for we ells, tanks, and meters. 

• Transpportation 

& Ga as Control Moddule 

– Scheduliing 

and nominnation 

management. 


Administration 

Moduule 

– Contraact 

managemeent. 

• Revennue 

Reporting & Analysis Moodule 

‐ Capturres 

all data used 

for revenue e and expense calculations and 

provides critical intern nal controls for information 

managemeent. 

• Markeeting 

Activity Module M ‐ Trackks 

all oil and ggas 

marketing activity. 

• Creditt 

Module ‐ Mon nitor vital credit 

activities. 

• Hedginng 

Module ‐ Accommodates 

A 

s typical hedgiing 

activity by oil and gas pro oducers. 

EMK3’ss 

software iss 

built on a technology base that 

incorpoorates 

XML annd 

web servicces 

and is enttirely 

web‐ 

based, offering simpplified 

deploymment 

and maintenance. 

EMK3'ss 

application ssuites 

use Miccrosoft's 

Winddows 

2003 

Server for the operaating 

system pplatform 

Microosoft's 

SQL 

Server 2005 as the daata 

repository and database eengine. 

Main OOffice 

400 Maann 

St., Suite 7700 

Corpuss 

Christi, TX 784401 

+1‐361‐881‐9326 


Houstoon, 

Texas: 281‐ ‐895‐8198 

Dallas, Texas (Sales & Support): 972‐267‐3653 


Cliennts 

• Linnn 

Energy 

• Eni 

• Petroleum 

Development 

Corp. 

• Bill 

Barrett Corp. 

• Annardarko 

Petroleum 

• Kerr‐McGee 

• Torch 

Energy 

Websitte 

http://wwww.emk3.coom 


42




Vendorr 



XXDM 

Suite, 

EEnergeya 

LLCC 

e, (Version no ot provided byy 

vendor) 

9914 

Shaw Circcle 

MMelbourne 

FLL 

32940 USA 

Maarkets/Geog 




Energeya is a relatively new w company thaat 

has a strongg 

emphasis and 

position in the Italian ennergy 

markets. . 

The companyy 

has indicate ed that it is noow 

seeking too 

expand into EEurope 

and North 

America. 



EEnergeya 

wass 

founded in 2008 to prrovide 

softwaare 

ssolutions 

to wworld 

energy markets. It haas 

a number of 

cclients 

in Italy and Europe but b is headquaartered 

in Norrth 

AAmerica. 


company'ss 

XDM suite of software incluudes 

a numberr 

of 

mmodules 

designned 

to provide e a straight thrrough 

processiing 

ssolution 

for gass, 

power and re enewable. 


XDM suite is comprised of: o 

onal Inc. 

• XDM Core ‐ The base set oof 

infrastructuure 

componennts 

of all solutio ons based on XXDM 

Suite. 

• XDM Quote ‐ Prov vides a Formuula 

language ffor 

creating and 

executing complex pricinng 

formulas and 

algorithmss 

which can be b used to ccreate 

price and 

market treend 

analyses. 


43




Vendorr 



onal Inc. 

• XDM Curve – A solution s for time 

series daata 

managemeent 

including price p curves. 

• XDM Contract Management 

– Alllows 

capture of 

contract innformation. 

• XDM Trade Italia ‐ Provides ccompanies 

wwho 

operate onn 

the italian electric 

market with a full set of 

features to 

support the e local contraact 

managemeent 

processes. 

• XDM Trade Euro ope – Suppports 

contraact 

managemeent 

processes s in the areeas 

of portfoolio 

physical baalancing 

and en nergy scheduling/nominationns. 

• XDM Brokers ‐ Enh hances Contraact 

Managemeent 

functionaliities 

in XDM 

by adding 

automatted 

integrationn 

with front‐en nd deal capturre 

systems bassed 

on Trayporrt's 

GlobalVisio on solution. 

• XDM Gas – Exte ends Contracct 

Managemeent 

functionaliityy 

to suppor rt gas wholesaalers 

with a ggas 

contract annd 

process management 

systtem. 

• XDM Settlement – A solution for commoddity 

contract evaluation, settlement aand 

transaction 

managemeent. 

• XDM RRisk 

‐ Provides a set of tools for evaluation of 

risk exposuure. 

• XDM FForecast 

‐ Intro oduces an innoovative 

approaach 

to definingg 

and executing g forecasting aactivities. 

Thoughh 

a relatively new vendor, Energeya alreeady 

has a 

numbeer 

of clients on its platform particularly 

in Ittaly. 

It also 

incorpoorates 

a bussiness 

consultting 

division that has 

knowleedge 

of local EEuropean 

marrkets 

such as the Italian 

energy market and itt 

differentiatess 

itself partly oon 

its local 

markett 

knowledge. Energeya currrently 

serves IItalian 

and 

Europeean 

major utilitties, 

as well as mid‐sized commpanies. 

Main OOffice 

914 Shaaw 

Circle 

Melbouurne 

FL 32940 USA 


Via G. FFerrari, 

39 

20052 Monza (MB) 

Italy 

Tel. 02. .303123637 


Cliennts 

• Eneel 

S.p.A. 

• ERGG 

Power & Gas 

• GME 

• Assooutilty 

S.p.A. 

• Alpiiq 

• Ratiia 

Energie 

• Burggo 

Energia S.r. l. 

Websitte 

http://wwww.energeyaa.com 


44




Vendorr 



GGastar 

andd 

Prism, (Ve ersion not provid 

EEnsyte 

Energgy 

Software Internationnal, 

Inc 

7770 

S. Post Oakk 

Lane, Suite 33 30 

HHouston, 

TX 777056 

USA 

Maarkets/Geog 




Ensyte is a sspecialist 

prov vider of Oil & Gas solutionss 

based in Houuston, 

TX that t has been in business sincee 

1982. The coompany's 

produ ucts have beenn 

implementedd 

globally. 



CConfigured 

on a common ORA ACLE or Microsoft 

SQL Serveer 

RRDBMS, 

ENSYTTE 

offers the GA ASTAR and PRISM 

aapplication 

suittes 

for managing 

natural gas, , liquids and 

ccrude 

oil from tthe 

production n source to thee 

consumption 

ppoint. 

GASTARR 

is the mid and 

downstreamm 

solution for 

ggas 

marketers, gathering pipe elines, local disstribution 

ccompanies 

(LDCC) 

and large na atural gas end users, power 

ggenerators, 

co‐ ‐generation pla ants, etc. PRISM 

is the 

pproducer’s 

soluution 

for produ uction and reveenue 

accountinng 

inncluding 

naturral 

gas and crud de oil sales, neetback 

aallocations 

andd 

regulatory rep porting. An intternational 

vversion 

also inccludes 

compon nent allocations, 


aand 

optimizatioon 

of gas supply 

with contracct 

volume, 

eenergy 

and commposition 

term ms. 

GGeneric 

applicaation 

modules include: 

onal Inc. 

ded by vendor) 


45




Vendorr 



onal Inc. 

Business AAssociates: 

Counter 

parties, contacts, alertts, 

ccontact 

role baased 

application 

security and system code 

tables 

that are tightly integra ated for seamleess 

workflow. 

Credit Mannger: 

Credit authorization 

foor 

sales counteer 

pparties/contraccts 

with real tim me transactionn 

updates as 

ddeals 

are enterred. 

Contract MModule: 

Contr racts for Gatheering, 

NAESB 

MMaster 

Purchasse/Sales, 

Pipeline 

Transportaation, 

Storage, 

AAsset 

Managemment, 

Physical Exchange (Putt/Call), 

AAgent/Choice, 

AAgent/Broker, 

LDC Transporttation, 

Markett 

TTrading 

Servicees. 

Pipeline Seetup: 

Operated d/non‐operateed 

pipelines 

innclusive 

of tariiff/rate 

manag gement, transaction 

zones, 

ppoints, 

pools annd 

interconnec cts, measuremment 

volume, 

eenergy 

and commposition, 

SCA ADA and instrumment 

interfacees. 

Transactioon 

Accounting and GL Interfaace: 

Full trackiing 

oof 

AP/AR transaactions 

with month m end accrrual, 

invoicing, 

rreconciliation, 

GL account sum mmary and rollup. 

Hedge Manager: 

A hedge 

management 

tool for futurres 

aand 

options forr 

any commodity 

and exchannge 

with mark tto 

mmarket, 

gain/looss 

and the abi ility to integratte 

the financiall 

bbook 

with a physical 

book 

Physical puurchase/sales 

and exchangee 

deals: Quick 

ddeal 

setup, linkked 

Buy/Sell tra ansactions inclluding 


for margin disclosure, 

Index pricing with 

pprovider 

interfaace, 

NAESB confirmations, 

linnked 

pathing to 

ccalculate 

all delivered 

costs fo or city gate, pipeline 

pool 

WWACOG 

and Sttorage 

inventory 

values. 

Gas Scheduling: 

NAESB compliant scheeduling 

screenns 

wwith 

integration 

to EDI for pip peline transportation 

and 

ccustomer 

EBB ffor 

operated pipelines, 

LDC aand 

gathering, 

immbalance 

mannagement, 

actu ual and scheduuled 

variance. 

Allocations: 

Allocation of 

delivered volumes 

and 

eenergy 

to sourcces 

using ‘keep p whole’, ‘fill first’, 

‘fill equal’ 

aand 

directed allocation 

proce edures. Transpportation 

costss 

mmay 

also be allocated 

to assig gn direct costs to sources. 

Ad dvertisement 

Compreehensive 

allocaation 

algorithmms 

for oil and ggas 

with 

component 

volumes carried for gass 

allocations. 

Weell 

Netback Coontracts: 

Unique 

contract strructure 

for 

handlinng 

purchase orr 

sale netback vvolumes 

and energy 

allocatiions 

with assocciated 

costs annd 

revenue. Gaas 

and oil 

settlemment 

calculations, 

including state 

severancee 

tax 

reporting. 

Divvision 

of intereest: 

Well and Lease ownershhip 

profiles 

for worrking 

and revenue 

interest paarties. 

Prooduction 

Management: 

Fulll 

field, reservoir 

and well 

manageement 

modulees 

addressing aall 

aspects of sttandard 

producction 

operationns, 

including water, 

steam annd 

CO2 

floods. 

Meeasurement 

Data: 

Interface to various electronic 

data soources 

and OSISoft 

real‐time database for tracking 

SCADA and flow conttrol 

computer ooutput 

for reall‐time 

monitooring 

of gas andd 

liquid flow inn 

high volume 

installaations. 


GASTAR annd 

PRISM higghlights 

providee 

a broad 

overvieew 

of the functtionality 

available 

within the 

integraated 

data modeel 

and applicattion 

programs. Semi‐ 

customm 

version of theese 

applicationn 

programs havve 

been 

installeed 

for clients inn 

the United States, 

Canada, South 

Americca, 

Indonesia, MMalaysia, 

Vietnnam, 

United Kingdom, 

Norwayy 

and Nigeria. 

Main OOffice 

770 S. PPost 

Oak Lane, , Suite 330 

Houstoon, 

TX 77056 USA 

+1 713‐ ‐622‐2875 


None 


Cliennts 

Not proovided. 

Websitte 

http://wwww.ensyte.com 


46




Vendorr 



onal Inc. 

HHyper 

Rig, , (Version not 

provided byy 

vendor) 

HHyper 

Rig Ltd. 

337, 

Colborn St. 

BBow, 

London, UUK 

Maarkets/Geog 




Hyper Rig iis 

a relatively y new companny 

in start‐upp 

mode, deliveering 

new tech hnology to thee 

market placee 

for risk agggregation. 

Hyp per Rig is a ssupplement 

too 

CTRM softwaare. 


has cove ered Hyper RRig 

in a whitee 

paper issuedd 

in 2009 ‐ Bre eaking Down the Barriers too 

Holistic Risk Management. 



HHyper 

Rig wass 

founded in 2005 to address 

the growiing 

nneed 

for high performance, high quality risk 

reporting. Its 

ssolution 

is not necessarily a CTRM C solution but one that ccan 

aand 

does commplement 

CTR RM solutions to provide rrisk 

aaggregation, 

inntegration 

and d performancee. 

Hyper Rig LLtd 

pprovides 

real ttime, 

multi‐ass set risk managgement 

solutioons 

to 

financial commpanies 

seekin ng to proactiveely 

manage their 

rrisk 

and optimize 

their trading 

strategies. 

HHyper 

Rig is a risk manage ement software 


aallows 

financiaal 

service and commodity traading 

companies 

to 

proactively mmanage 

their market, m credit and liquidity rrisk 

eexposure 

in reaal 

time. Design ned to be deployed 

quickly and 

innexpensively, 

Hyper Rig perm mits clients to run hundreds of 

mmillions 

of riskk 

calculations in 

minutes insttead 

of hours or 


47




Vendorr 



onal Inc. 

eeven 

days by ssolving 

key three 

problems: data integratioon, 

ddata 

quality and 

performance e. 

RRisk 

aggregatiion 

– Provid des the abilitty 

to see and 

uunderstand 

thheir 

aggregate ed risk exposures 

across tthe 

oorganization 

inn 

real time. Hy yper Rig is desiigned 

to manaage 

rrisk 

data chaallenges 

including 

multiplee 

data sources, 

ddifferent 

dataa 

formats, huge h data seets 

and fraggile 

innterconnectionns. 

It integra ates seamlessly 

with existiing 

leegacy 

systemss 

and manage es all the workflow 

and daata 

qquality 

issues. Hyper Rig doe es not aim to replace existiing 

ccross‐asset 

frront‐ 

to back‐office 

solutions 

but to 

ccomplement 

tthem 

by quickly 

integratting 

to proviide 

ccomplete 

transparency 

acro oss systems. Hyper Rigs’ rrisk 

mmonitor 

tool allows 

users to dynamically d drrill 

down to traade 

leevel 

and slice aand 

dice acros ss any dimensioon 

(counterparty 

rrisk, 

credit risk, , liquidity risk, market risk, isssuer 

etc) in reeal‐ 

time 

to analyzee 

any outliers or o discrepanciees. 

TTrading 

Optimmization 

‐ Hyp per Rig provides 

a range of 

trading 

strateggy 

optimization 

decision toools 

such as pre‐ 

trade 

simulations 

to calculate 

the poteential 

effect on 

ppositions 

and P&L from an ny given tradee 

and ensuree 

a 

ccorrectly 

hedgeed 

portfolio in real time. 

RReal‐time 

Risk Monitoring – Hyper Rig proovides 

the abillity 

to 

continuouslyy 

monitor in re eal‐time, on deemand 

or end of 

dday 

so that CROO’s 

can run a complete c systeem 

reconciliation 

to 

identify exceptions 

across s multiple systtems, 

books and 

ccheck 

trading liimits. 

AAsset 

Counterrparty 

‐ Hyp per Rig can aggregate OOTC 

eexposures 

acrooss 

systems and d business linees 

to perform tthe 

ccomplex 

full blown 

Monte Carlo C risk simuulations 

for veery 

laarge 

vanilla annd 

exotics trad ding books quickly 

(in a mattter 

oof 

seconds andd 

not hours) en nabling instituttions 

to compuute 

aand 

monitor rissk 

limits on a pre‐trade p basis. 

Stress TTest 

‐ With Hyyper 

Rig, userss 

can stress teest 

any risk 

factor or combinatioon 

of risk factoors 

(any variable 

whose 

value wwill 

affect the valuation of thhe 

book such as interest 

rate, inndex, 

oil price eetc.) 

and assesss 

in real‐time tthe 

impact 

of any market event. 

Hyper Rig utilizes patent 

pending technologies tto 

perform 

stochasstic 

risk calculates 

faster and 

to allow iintegration 

quicklyy. 

Main OOffice 

37, Colborn 

St. 

Bow, Loondon, 

UK 

+44 7899 

059 0944 


India 


Cliennts 

• BushCo 

Natural Reesources 

• Navvitas 

Resourcess 

Websitte 

http://wwww.hyperrigg.net 


48




Vendorr 



iiTrade, 

Verrsion 

2 

iRely 

3344 

New Albanny 

RD 

MMoorestown, 

NNJ 

08057 

onal Inc. 

MMarkets/Geographies 

SServed 

CommodityPoin 

nt Research HHighlights 

iRely’s focus oon 

Ags means that t CommodiityPoint’s 

past 

energy centriic 

research ha as not previoussly 

registered 

the company. 

We expect to complete rese earch in 2010 oon 

non‐energy 

commodity TRRM 

vendor pe erceptions thatt 

will allow us 

to initiate effeective 

coverage e. 

Company/Pro 

oduct Informmation 

iRRely 

specializes 

in Commodit ty Trading and Risk 

MManagement 

SSolutions 

for Ag gricultural commmodities 

like 

ccoffee, 

sugar, ccocoa, 

grains, feeds, f cotton, sspices, 

tea, 

bblended 

and paackaged 

food products. p iRelyy 

consists of 

1125+ 

co‐workers 

globally with h locations in UUSA 

and India. 


company eexpects 

to start t European opeerations 

this 

yyear. 

WWith 

its recent acquisition of Summit softwware 

in the US, 

iRRely 

added oveer 

350 customers 

specializingg 

in software ffor 

ggrains 

elevators 

and co‐opera atives, processsors, 

exporters, 

bbio‐fuel 

processsors, 

risk mana agers and distrributors. 

iRRely 

covers folllowing 

high level 

functionality 

for 

aagricultural 

commmodities: 


Manageme ent 


49




Vendorr 



• Futurees 

Managemen nt (Price Fixing, 

Hedging, 

Discreetionary 

Future es) 

• Allocations 

• Positioon 

Management 

• Risk MManagement 

• Mark tto 

Market 

• Trafficc/Logistics 

Man nagement 


Managem ment 

• Warehhouse 

Manage ement 

• Blend Management 

• Qualitty 

Managemen nt 

• Traceaability 

• Claimss 

Management t 

• Sampling 

and Appro oval 

• Currenncy 

Manageme ent 

• Costinng 

• Financce 

Managemen nt 

• Alerts and Reminder rs 

• Extenssive 

reporting with w drill downn 

capabilities. 

MMain 

Office 

3344 

New Albanny 

Rd 

MMoorestown, 

NNJ 

08057 


Locationns 

FFort 

Wayne, INN, 

USA: 1.800.4 433.5724 

BBangalore 

Indiaa: 

+91.80.4112 22584 

CCochin 

India: + +91.484.4043982 

onal Inc. 


Cliennts 

• TAATA 

COFFEE LTDD 

• Suiker 

Exports N.V. 

• Eigght 

O'Clock Cofffee 

• Bernhard 

Beneckke 

Coffee GmbbH 

• BLAASER 

TRADINGG 

AG 

• Haarris 

Freeman & Co. LP 

• J.TTh. 

Douqué's Kooffie 

B.V 

• Equatorial 

Traders 

Ltd 

• CTTCS 

Group 

• Gaabesco 

Italia 

• List 

& Beisler GmmbH 

• Maaximus 

Coffee Group, LP 

• Lannsing 

Trade Grroup, 

LLC 

• B44GRAIN 

Websitte 

http://wwww.irely.comm 


50




Vendorr 



i 

iRisk 

iRISK (version 

not supplied d by vendor) 

TTordenskioldsggate 

6B 

NN‐0160 

OSLO 

NNorway 

Maarkets/Geog 




iRisk had some bra and recognittion 



2009 Ven ndor Perceptionn 

Study related 

to its positioon 

in Europe where w it was raated 

12 

with several other companies. 

th e 

d 

alongg 



iRRisk 

was founded 

in 2003 3 to offer rissk 

managemeent 

ssoftware 

and cconsultancy 

ser rvices to tradinng 

organizations. 

Itt’s 

software ssolution 

– iRISK 

Manager – is a portfoolio 

ssystem 

designeed 

to allow users u to meassure 

and control 

rrisks 

and expossures 

using a va ariety of methodologies. 

iRRISK 

Manageer 

handles multiple commmodities 

and 

aassociated 

deriivatives 

to enable 

users to peerform: 

• Value at Risk analysis; 

• Scenario 

building and 

stress testing; 

• Exposure 

monitorin ng including hedge positioon, 

derivative and net expos sure. 

iRRISK 

Manager also includes coverage c of: 

onal Inc. 


51




Vendorr 



• A rangge 

of derivatives 

such as ffutures, 

forward, 

European and Asian opt tions for physical 


contracts; 


reporting and a tracking; 

• Book aand 

portfolio organization; 

o 

• Tracking 

of trading and a hedging strategies; 

• Complete 

audit trail. 

iRRisk 

also proovides 

a data a managemennt 

tool – iRIISK 

AAnalyzer 

‐ as wwell 

as risk management 

consulting 

servicess. 

MMain 

Office 

TTordenskioldsggate 

6B 

NN‐0160 

OSLO 

NNorway 

+ +47 95 70 48 133 


Office Loocations 

MMoscow 

RRepresentativee 

Clients 

• JB Ugland SShipping 

• Motia 

• Rexam 

WWebsite 

hhttp://www.irissk.no 

onal Inc. 

Copyright 2010 UtiliPoint International, Inc. 52




Vendorr 



CContraxCenntral, 

Vers sion 4 

JJustCommoddity 

Softwar re Solutions 

222 

North Canal Road #03‐02 

SSingapore 

0488834 

onal Inc. 

Maarkets/Geog 




JustCommoddity’s 

focus on Ags means thatt 

CommodityPPoint’s 

past ene ergy centric research 

has nott 

previously reegistered 

the co ompany. 

We expect too 

complete research 

in 2010 on non‐energyy 

commodity TTRM 

vendor pe erceptions thaat 

will allow uss 

to initiate efffective 

coverag ge. 



SSingapore‐baseed 

JustCommo odity provides a CTRM solutioon; 

CContraXcentrall, 

with partic cular emphasis 

on food and 

aagricultural 

commmodities. 

CContraXcentrall 

is a contract t management 

and executiion 

ssoftware 

suitee, 

designed to support the needs of 


trading 

houses. ContraXcentral 

C 

l Palm Oil is buuilt 

wwith 

expert PPalm 

Oil domain 

knowledge, 

incorporatiing 

ccurrent 

industry 

practices and 

regulationss 

including rules 

ffrom 

PORAM, MEOMA and d FOSFA. Thee 

ContraXcenttral 

fframework 

is configurable and a customizaable 

to suit tthe 

nneeds 

of individdual 

companie es. The solutionn 

includes: 

OOperational 

Effficiency 


Execution 

• Buy/Seell, 

Forward/Sp pot Contract Execution 


53




Vendorr 



onal Inc. 

• Documment 

Automati ion 


Manageme ent 

• Deliveery/Collection 

orders o 

• International 

Shippin ng documents 

• Autommated 

MPOA/M MPOB/PORAM trade reportinng 

• Trade Confirmation 

• Audit Compliance an nd Control 

• User aaccess 

control 

• Workfflow 

approval management 

m 

• Audit and change log gs 

CControl 

Risk annd 

Exposure 


• Creditt 

Risk Exposure e 

• Counterparty 

Sales and a Purchase limits 

• Markeet 

and Material 

risk exposuree 

• Value at Risk 

• Pre‐Deeal 

Analytics 

• Tradinng 

and Position n Managementt 

• Stringss, 

Circles and Washouts W 

• Overall 

Group tradin ng activities 

• Mark tto 

Market with h “live” markett 

prices 

• Futurees 

and Derivati ives Management 

• Margin 

management 

• Conveert 

contracts from 

Futures to Physical 

• Materrial 

Hedging str rategies 


alerts an nd reminders 

• Positioon 

exposure re eports 

CCo‐ordinate 

Prroduction 

and Distribution 

• Mill Alllocation 

and Fulfillment F 

• Dispattch 

and Collect tion 

• Oceann 

Voyage Dispa atch/Receivablees 

(FOB/CIF) 

• Freighht 

Management 


and Produ uction Management 

• Stock Management ‐ drill down reporting 

by 

product 

> region >m mill. 

Advertisement 

• Production PPlanning 

• Maximize Plant 

efficiency tthrough 

Balancce 

to Sell 

and 

Materials to cover 

• Reports 

Empowwer 

Business Inntelligence 

• Managemennt 

Dashboard 

• Group realised 

and unrealiised 

Profit andd 

Loss 

• Trade by trade 

analysis 

• Trader limit management 

• Counterpartty 

exposure maanagement 

• Overall stockk 

position mannagement 

Enhancce 

Financial Coontrol 

• Financial andd 

Treasury Management 

• Accounts Reeceivable 

and AAccounts 

Payabble 

• Financial Repports 

• Invoice, Crredit/Debit 

NNote 

and SSettlement 

Doocumentation 

GGeneration 

Main OOffice 

22 Nortth 

Canal Road #03‐02 

Singapoore 

048834 

+65 63772‐4842 


None 


Cliennts 

• Asian 

Agri 

• CTTP 

Holdings 

• Felcr 

Berhad 

• IOII 

Group 

• Simme 

Darby 

• Troopical 

Oil Products 

• Unnimills, 

BV 

Websitte 

http://wwww.JustCommodity.com 


54




Vendorr 



LLacima 

riskkAnalytics 

LLacima 

Grouup 

LLevel 

32, 1 Marrket 

Street 

SSydney 

NSW 20000 

AAustralia 

Maarkets/Geog 




Lacima Grouup 

have some level of brandd 



2009 Ve endor Perceptiion 

Study but iit 

has traditionnally 

been view wed as a speciaalist 

risk vendor 

as opposed tto 

a mainstream m ETRM platfoorm. 

Lacima was also viewed as a a perceived market leader 

for market riisk. 



LLacima 

Group is a specialist 

provider of energy and 


pricing, 

valuat tion and rissk 

managemeent 

ssoftware 

and aadvisory 

servic ces. Its solutioons 

are deliverred 

bby 

a team oof 

business experts, e technnical 

strategissts, 

qquantitative 

sppecialists 

and researchers. r Laacima's 

softwaare 

ssuite 

– riskanallytics 

‐ provide es capabilities tto 

manage pricce, 

vvalue 


risks assoc ciated with coomplex 

contracts 

aand 

physical assets across s multiple coommodities 

and 

rregions. 

LLacima’s 

softwaare 

solutions in nclude: 

onal Inc. 

(version not suppplied 

by vendor) 

Lacima riskAnalytics 

– An A energy andd 

commodity rrisk 

managemeent 

system dedicated 

to riskk 

analytics: vallue 

and manaage 

market an nd credit risk associated with 


55




Vendorr 



onal Inc. 

complex contracts 

and physical p assetss 

across multipple 

regions. 

Lacima Gas 

Storage Solu ution – A moduule 

of the Lacimma 

riskAnalytics 

software which w can also be purchased as 

a stand‐alone 

applicat tion to valuee 

and optimize 

portfolios oof 

gas storage contracts and physical assets. 

Lacima Ennergy 

Swing Solution S – A module of tthe 

Lacima risskAnalytics 

so oftware which 

can also be 

purchased as a stand d‐alone appliccation 

to vallue 


energy swin ng contracts. 

Lacima GGeneration 

As sset Solutionn 

– A moduule 

contained within the Lacima L riskAnnalytics 

softwaare 

which cann 

also be purchased p as a stand‐aloone 

applicationn 

to value 

generationn 

assets. 

and optimizee 

portfolios of 

AAll 

of Lacima's software prod ducts are desiggned 

to integraate 

wwith 

energy trading 

and ri isk managemeent 

(ETRM) and 

oother 

operationnal 

systems, avoiding thee 

need for tthe 

rreplacement 

off 

existing syste ems. 

LLacima 

riskAnalytics 

provides s the following functions and 

ffeatures: 

• Risk mmodels 

based on o rigorously teested 

mathematical 

algorithms s; 

• Holistiic 

view of all tr rades, positions, 

hedges, 

valuations and risk metrics 

across multtiple 


and regions s; 

• Quanttification, 

consolidation 

and rreporting 

across 


key metrics such as markeet 

price, 

sensitivitiees, 

MtM, VaR, P&L P attributionn, 

EaR and cFaR; 

• Identiffication 

of optimal 

trading sccenarios 

and 

accurate position 

monito oring; 

• Accurate valuations 

of commplex 

portfolioos 

of 

swwing, 

storage, ppipeline 

and geeneration 

assetts 

taking 

intto 

account their 

operational fflexibility 

and wwide 

rannging 

constrainnts; 

• Advanced annalytical 

tools ffor 

"what‐if sceenarios"; 

• Joint optimizzation 

of financial 

contracts aand 

physical 

assets; 

• Rapid implemmentation; 

• Fast processsing 

of numericcally 

intensive 

callculations. 

Main OOffice 

Level 32, 

1 Market Street 

Sydneyy 

NSW 2000 

Australlia 

+61 (2) 9275 8818 


Houstoon: 

+1 713 353 3949 

Londonn: 

+44 (0)20 70036 

0360 


Cliennts 

• AGL 

• Barcclays 

Capital 

• Centtrica 

• Enteergy 

• Gazpprom 

• RWEE 

• Shell 

• Stanndard 

Bank 

• VattenFall 

Websitte 

http://wwww.lacimagrroup.com 


56




Vendorr 



MMurex 

MX 

MMurex 

S.A.S. 

8 rue Bellini 

775782 

Paris ceddex 

16 

FFrance 

onal Inc. 

X.3, (Version not providedd 

by vendor) 

Maarkets/Geog 




Murex rankeed 

11 

our 2009 Ve 

better known 

to that surve 

th on unpr rompted brandd 


endor Perceptio on Survey andd 

is marginallyy 

n in Europe than 

North Ameerica 

accordingg 

ey. 

It was also ranked as a perceived maarket 

leader inn 

Crude Oil, Coal, Base e and Preccious 

Metals, , 

Environmenttal 

Commodities, 

Freight Raates, 

Weather, r, 

Financial Traansaction 

Man nagement, and 

Market Riskk 

as well as inn 

the Banking segment, Brookers 

segment, t, 

Fund segmennt, 

Base meta als segment annd 

for support, t, 

architecture and integratio on. 



MMurex 

is a provvider 

of trading g & risk managgement 

solutioons 

ffor 

multiple aasset 

classes with more than 

150 cliennts 

gglobally. 

Its MX.3 

platform is also utilizedd 

by commoddity 

trading 

firms ffor 

both finan ncial and physsical 

transactioons 

aacross 

a range of commoditie es. 


MX.3 commmodities 

modu ule is designed to manage price 

aand 

delivery rrisks 

in comm modity tradingg 

operations. In 

aaddition 

to interactive 

port tfolio analysis, , MX.3 providdes 


57




Vendorr 



onal Inc. 

gglobal 

risk andd 

limits manag gement and fuull 

processing of 

transactions. 

MMX.3 

includes ffunctionality 

in n several areass 

as follows: 

• Tradinng 

‐ features the Structureed 

Trade Buildder 

(STB), a prricing 

and struc cturing framewwork 

covering all 

products. Each product can be associaated 

to valuation 

models seelected 

from the Murex analytics libraary 

(MACS), oor 

from propr rietary models 

integrated by 

clients. 

Portfolio management functions cover scenario 

analysis annd 

hedging. 


o MMX 

Risk Manage er: An enterpriise‐wide 

risk 

managgement 

solutio on providing rissk 

managemennt 

tools ffor 

the manage ement and conntrol 

of Credit 

Risk, MMarket 

Risk and 

Liquidity Riskk. 

o A Compliance & Constraints Seerver 

for pre‐ 

trade and post‐trade e compliance oon 

a wide varieety 

of rulee 

types. 

o MMX 

Collateral Manager: M A Margining 

& 

Collateeral 

Managem ment solution foor 

cross‐product 

collateeral 

manageme ent and marginn 

trading. 

• Processsing 

and Back k Office – Incluudes 

organization 

and book structures, se ettlements annd 

confirmatioons 

and work fflows. 

MMurex 

offers otther 

software modules that ccan 

be added oon 

inncluding 

MX AAsset 

Manager and Asset Mannager. 


MX.3 platfform 

utilizes a distributed n‐ ‐tier architectuure 

rresulting 

founded 

on a fa ault‐tolerant infrastructure. 

It 

immplements 

a layer of gener ric business coomponents 

uppon 

wwhich 

specificc 

application ns are built and providdes 

aaccessibility 

equally 

through either an efficiient 

rich client or 

through 

languaage‐independe 

ent XML‐based APIs. 

Main OOffice 

8 rue BBellini 

75782 Paris cedex 166 

France 

Other OOffices 

Not proovided 


Custoomers 

Not Proovided 

Websitte 

www.mmurex.com 


58




Vendorr 



PPomax 

(Ver 

NNavita 

Systeems 

AS 

PP.O. 

Box 154, NNO‐1751 

HHalden, 

Norway 

onal Inc. 

rsion number not n provided by 

vendor) 

Maarkets/Geog 




Navita was rranked 

9 

Vendor Perce 

better known 

same basis a 

ranked as a p 

and Electric P 

th over 

eption study on 

n in Europe wh 

and 11 th rall in CommoddityPoint’s 

n an unpromptted 

basis. It is 

here it was rankked 

5 

in Nort th America. Na 

perceived mark ket leader for N 

Power. 

th on the 

avita was also 

Natural Gas 



NNavita 

and its POMAX prod duct have their 

origins in tthe 

ccreation 

of NNordPool 

in 1988 and thhe 

Institutt ffor 

EEnergiteknikk 

( (IFE) in Halden n, Norway. Naavita 

was startted 

inn 

2003 as a result 

of a mana agement buyouut 

of assets froom 


OM Group. . Navita’s POM MAX supports trading 

in electtric 

ppower, 

gas, crude 

oil, coal l, emissions, ffreight, 

weathher 

dderivatives, 

intterest 

rates, currencies, 

andd 

equities. Theere 

aare 

more thann 

100 POMAX installations in 

Europe, Norrth 

AAmerica, 

Australia 

and Asia. 

WWith 

its originss 

in supporting 

NordPool mmarkets, 

Navitaa 

is 

sstrong 

in Scanddinavian 

marke ets. Over the last few years, 

it 

hhas 

begun to expand into other o Europeaan 

areas gainiing 

cclients 

and alsoo 

has a numbe er of clients inn 

North America. 


company has made sev veral acquisitioons 

over the laast 

ffew 

years incluuding 

most re ecently Edinbuurgh‐based 

AESL, 

LLtd. 

It has alsso 

set up a number of paartnerships 

with 


59




Vendorr 



onal Inc. 

vvarious 

firms tto 

tackle new and existing markets such as 

NNorth 

America and Russia. 

PPOMAX 

is a CTRM solut tion covering a number of 

ccommodities 

inncluding; 

elect tric power, nattural 

gas, freight, 

ccarbon, 

Metals, 

Oil, Coal and a Agriculturral 


ffrom 

front to back office. POMAX P includes 

the followiing 

ffunctionalities; 

• Tradinng 

– Deal capt ture, position keeping, markket 

prices/vollatility 

and ti ime series daata. 

It has twwo 

modes of 

deal captur re for ‘standaard’ 

trades and 

complex sstructured 

trad des. 

• Risk mmanagement 

‐ POMAX’s Risk Management 

capabilityy 

is powered by y a Monte Carlo 

engine. It can 

be used as 

part of POMA AX, as a standaalone 

solution, , 

or an exteension 

for legacy 

trading systtems. 

It provides 

managemment 

of: 

o MMarket 

Risk, quantifying 

VaR, CFaR, and EaRR 

ussing 

Monte Carlo 

simulation, , stress testing, 

annd 

market limit 

monitoring; 

o Crredit 

Risk, valid dating automatic 

credit 

exxposure 

vs. lim mits, collateral mmanagement, 

annd 

credit rating g schemas/thresholds; 

o Operational 

Risk k, automating straight‐through 

prrocessing, 

deal/price 

and othher 

ops limits. 


Manageme ent ‐ designed to provide mid‐ 

office mannagers 

useful views v of portfoolio 

data. 

• Powerr 

logistics – POMAX 

supportss 

configuration of 

all bid, contract, 

and cou unterparty temmplates, 

automaticcally 

performs sales and prodduction 

balancing, 

estimates agg gregated retail, 

and extracts 

the data aand 

performs all a calculations needed to sennd 

notificatioons. 

• Gas loogistics 

‐ handle es all the standdard 

functions 

for balanccing, 

nominatin ng, and allocatting 

natural gass 

in Europe. 

• Electroonic 

Data Man nagement ‐ auttomated 

collectionn 

of meter data a and its use in shadow 

settlemennts. 

Adverrtisement 


• Market Dataa 

Analysis – viaa 

Curve Manager 

and/or 

NETA 

DSS. 

POMAXX 

is built using Microsoft tools 

on an Oraclee 

database 

and .NEET 

architecturee. 

Main OOffice 

P.O. Boox 

154, NO‐17551 

Halden, 

Norwayy 

(Visiting addrress: 

Storgt 7, Halden) 

+47 69 70 96 00 


Oslo: + 47 69 70 96 000 

Stockhoolm: 

+46 8 5666 

300 60 

Londonn: 

+44 207 469 2530 

Edinburgh: 

+44 131 2226 

5566 

Pasadeena: 

+1 626 5355 

9888 

Mississsauga: 

(905) 3661‐9838 


Cliennts 

• Agdder 

Energi AS 

• BHPP 

Billiton Plc 

• Bizkkaia 

Energia 

• Bizzz 

Energy 

• Bruce 

Power L.P 

• Clarrkson 

Fund 

Management 

Ltd 

• Connstellation 

Energy 

• EdF Trading Ltd 

• Norrsk 

Hydro 

• IMAAREX 

ASA 

• Inteerkraft 

Capital 

Management 

• Inteernational 

Powwer 

plc 

Websitte 

http://wwww.navita.coom 

• Ivvaco 

Rolling MMills 

LP 

• NN.V. 

Nuon 

• NNavios 

Maritimme 

Holddings 

Inc. 

• RRBS 

Sempra 

Commmodities 

• SSacramento 

Municipal 

Utility 

District 

• SStatkraft 

• SStatoilhydro 

ASSA 

• WWelsh 

Power 

• WW. 

Australia Indp. 

Marrket 

Operator 

• WWestpac 

Banking 

Corpporation 

60




Vendorr 



EEndur, 

Verrsion 

9 

OOpen 

Link Fiinancials, 

Inc c. 

11502 

RXR Plazaa 

115th 

Floor ‐ Weest 

Tower 

UUniondale, 

NY 11556‐1502 

onal Inc. 

Maarkets/Geog 


NOTE: OLF's PPercentage 

by Seg gment is greater thhan 

100% due to 

company's classsification 

of having g clients crossing mmultiple 

segmentts 



Open Link raanked 

2 

Vendor Perc 

recognition – 

is also percei 

study, in Euro 

nd overa 

ceptions study 

– 3 rd all in CommodityPoint’s 

2009 

y for first too 

mind brand 

in North America A and 1 

ived as the ma arket leader, ac 

ope and North h America. 

st 9 

d 

in Europe. It 

ccording to our 

OLF was alsso 

perceived as a market leader in thee 

following areeas; 

crude oil, natural gas, electric powerr, 

coal, NGLs, LNG, Refined Products, Aggs 

and metalss, 

financial transaction 

mana agement, marrket 

risk, credit 

risk, utilities, 

generation n, oil & gass, 

refining & 

petrochemical, 

energy mer rchants, retailers, 

banks andd 

funds, and mmany 

other cate egories. 



OOpenLink 

offerrs 

solutions fo or trading & risk 

managemeent 

innto 

two industtries; 

finance and a energy. Its energy platform 

iss 

called Enduur 

which is a front‐ throough 

back‐office 

ssolution 

for ttrading, 


m 

and operatioons 

nneeds 

in various 

commodity y markets. Built 

on OpenLink's 

NNGX 

Frameworrk, 

Endur is a comprehensive 

c 

e solution serviing 

mmarkets 

in electricity, 

natura al gas and nattural 

gas liquidds, 


61




Vendorr 



onal Inc. 

ccrude 

oil and rrefined 

produc cts, precious aand 

base metaals, 

ccoal, 

weatherr 

derivatives, emissions, bbandwidth, 

sooft 

ccommodities, 

and foreign exchange. e Enddur 

is a scriptted 

aapplication 

annd 

some of the t features of the solutiion 

innclude: 

Front Offiice 

– Support ts deal capture 

and includdes 

Prospectivve 

Analysis which 

simulates trades to bettter 

view posittions 

in the marketplace, m mmanage 

contracts 

and report 

the full rang ge of risk andd 

positions froom 

execution through closing, 

Custoom 

Calculatioons 

allowing users to scr ript their owwn 

custom rrisk 

calculationns 

so that can become fullyy 

embedded innto 

all functioonalities 

of the e system and Curve Buildinng, 

which alloows 

users to build b their owwn 

pricing curvves 

and set up defaults witho out restrictionss. 

Middle Offfice 

– Allows users to base risk evaluations, 

including VVaR, 

on full valuations. Coomputations 

aare 

performedd 

at the ins strument leveel 

capturing all 

market‐speecific 

and structuring s 

reelated 

activities 

enabling accurate calculation of exposures, 

sensitivitiees, 

and “what if f” risks analyticcs. 

Back Officce 

‐ Offers full 

security andd 

audit ability to 

what has changed, wh hen, and whyy. 

One databaase 

enables drill‐downs 

fro om anywhere in the systeem. 

Real‐time ccash 

managem ment, exception 

and rule‐bassed 

processingg, 

interest rate e fixing, sub‐leddger 

posting and 

messaging with open interaction tto 

external and 

internal systems. 

Logistics – OLF offers pM Motion for powwer, 

gMotion ffor 

natural gaas, 

and cMoti ion for bulk commodities as 

embeddedd 

options products. 

All "Motiion" 

applicatioons 

deliver logistics 

enviro onments deveeloped 

to meeet 

current and 

future marke et requirements. 

OLF alsso 

owns a nummber 

of otherr 

companies inn 

the TRM 

software 

space includding; 


• dbsSMARTsooft 

‐ specializees 

in the development 

of 


Mannagement, 

Merchandising 

and Grain 

Accounting 

softwware. 

• IRM – OOffers 

solutioons 

tailored to the 

reqquirements 

of deregulated mmarkets 

and suupport 


operative 

busineess 

as well as sttrategic 

planning. 

• 

MCG – A sofftware 

solutionns 

and servicess 

firm. 

Main OOffice 

1502 RXR 

Plaza 

15th Floor 

‐ West Towwer 

Unionddale, 

NY 11556‐1502 

+1 516 227 6600 


Cliennts 

• Appache 

• Auustin 

Energy 

• Briidgeline 

Holdinngs 

• Calyon 

Financial 

• Centrica 

• Cooral 

Energy 

• D‐EEnergia 

Websitte 

http://wwww.olf.com 

Other 

Locations 

Neww 

York: 1 212 6641 

8787 

Houuston: 

1 713 6555 

9600 

Londdon: 

44 20 73330 

8100 

Berlin: 

49 30 22333 

1150 

Viennna: 

43 1 811 330‐0 

Singgapore: 

65 6593 

0800 

Sydnney: 

61 2 92299 

8300 

Sao Paulo: 55 11 33085 

8500 

• Enerrgy 

Transfer 

• Hesss 

• Shell 

• Statooil 

• Petrobras 

• Platinum 

Partners 

• Vattenfall 

Europe TTrading 

62




Vendorr 



SSAS 

for ETRRM, 

Versio on 9 

SSAS 

and RiskkAdvisory 

(A A Division off 

SAS) 

SSuite 

970, Gulf Canada Squar re 

4401 

9 Avenue SSW 

CCalgary, 

Albertaa 

CCanada, 

T2P 3CC5 

onal Inc. 

Maarkets/Geog 




SAS and Ris 

first to mind 

2009 Vendor 

and 18 th kAdvisory ranked 

11 

d brand recog 

r Perception S 

in Europe). It a 

market leadder 

for financia 

credit risk, annd 

for cost effe 

th overa 

gnition in Com 

Study (10 th all in terms off 

mmodityPoint’ss 

in NNorth 

Americaa 

also ranked aas 

a perceivedd 

al transaction managementt, 

ectiveness. 



RRiskAdvisory, 

a division of SA AS, provides ennergy 

trading rrisk 

mmanagement 

ssolutions 

inclu uding SAS BoookRunner 

which 

ooffers 

commoodity 

capture e, analytics, modeling and 

rreporting 

cappabilities, 

de elivered in an integratted 

fframework. 

RisskAdvisory 

was 

founded in CCalgary, 

Canadda, 

inn 

1995 and waas 

acquired by y SAS in 2003. BookRunner hhas 

bbeen 

combinedd 

with a numbe er of SAS analyytical 

tools. 

SSAS 

BookRunnner 

is a front‐to‐back‐officce 


inncludes 

deal caapture, 

data in ntegration, preedictive 

analytics, 

ccompliance 

repporting, 

and a full suite of modeling toools. 


modular solution prov vides organizaations 


ccapability 

to proactively ca apture, analyzze 

and simulaate 

mmarket 

and ccredit 

risks associated a witth 

energy price 


63




Vendorr 



onal Inc. 

vvolatility, 

throough 

an inte egrated energgy 

trading rrisk 

mmanagement 

(ETRM) fram mework suppoorted 

by SAS’s 

inntegrated 

dataa 

framework and 

superior buusiness 

analytics, 

aand 

support services. 

BBookRunner 

prrovides 

the foll lowing functionality: 

• Trade capture 

• Pricingg 

• Valuattion 

• Exposure 

quantificat tion 

• Positioon 

datastore 


manageme ent 

• Confirrmations 

• Tradinng 

and risk man nagement worrkflows 

• Settlements 

• Asset modeling (pro oduction, refinning, 

generatioon, 

distribution, 

transmissio on, pipelines, sstorage 

and aany 

associated emissions) 

• Invoice 

billing 

• Hedgee 

accounting 

• Counterparty 

manag gement 

• Creditt, 

collateral and d margining maanagement 

• Limits monitoring 

• Risk annalytics, 

mode eling, & reporting 

• Simulaation 

engine 

• Sensitivity 

analysis and a stress testing 

AAdvertisement 

SAS RRiskAdvisory 

aalso 

markets the SAS BoookRunner 

analyticcs 

Workbenchh 

to provide analysts 

with a graphical 

tool too 

run analyticcs 

and build credit and mmarket 

risk 

modelss 

in a centralized 

and contrrolled 

environment, 

SAS 

BookRuunner 

Advanceed 

Analytics too 

help model aand 

assess 

markett 

and credit risk 

in a comppany‐specific 

frramework, 

SAS RisskDimensions 

to measure aand 

monitor riisk 

metrics 

associaated 

with phyysical 

or finanncial 

energy aassets 

and 

contraccts, 

and the SAAS 

Operational Risk suite of toools. 

Main OOffice 

Suite 970, 

Gulf Canadda 

Square 

401 9 AAvenue 

SW 

Calgaryy, 

Alberta 

Canadaa, 

T2P 3C5 

(403) 2263‐7475 


North CCarolina: 

(919) 677‐8000 


Cliennts 

• AG Energy 

• Domminion 

• EnCCana 

• EnMMax 

• SaskkEnergy 

• Exceel 

Energy 

Websitte 

http://wwww.riskadvissory.com 


64




Vendorr 



SSoftSmithss 

Power/Gas/Market, 

Version 5 

SSoftSmiths, 

Inc. 

110696 

Haddinggton 

SSuite 

102 

HHouston, 

TX 777043‐284 

onal Inc. 

Maarkets/Geog 




SoftSmiths rranked 

13 

first to mind 

2009 Vendor 

North Americ 

th in North Americca 

in terms off 

d brand recog gnition in CommmodityPoint’ss 

r Perception st tudy and are mmostly 

known inn 

ca. 

They are recognized 

as a market leadder 

for electricc 

power, finanncial 

transactio on managemeent, 

credit riskk, 

utilities, seervice 

& su upport, meeting 

regionaal 

requirementss, 

integration. 

implementation, 

repporting 

andd 



SSoftSmiths 

hellps 

energy ma arketers sell, purchase, traade 

aand 

deliver ennergy 

by integ grating and deelivering 

tailorred 

eenergy 

transaction 

manage ement systemms 

for Utilities, 

MMunicipals, 

Invvestor 

Owned Utilities, LDCs, 

Power and GGas 

MMarketers, 

Gennerators, 

Produ ucers, and Pipeeline 

companiees. 


company'ss 

range of pr roducts includdes 

solutions ffor 

ppower 

and gas manage ement, transmmission 

service 

mmanagement, 

market interf faces and eleectronic 

tagginng. 


Power 

is target ted at Load SServing 

Entities, 

PPurchasing 

Seelling 

Entitie es and Munnicipal 

Utilities. 


Gass 

is targeted at 

Natural Gas Marketers, LDDC, 


65




Vendorr 



UUtilities 

and PPipeline 

comp panies. These power and ggas 

mmanagement 

products feat ture the folloowing 

high‐levvel 

ffunctionality: 

FFront 

Office 

• Load FForecasting 

• Resource 

Manageme ent 

• Real‐TTime 

and Term Trading 

• Multi‐ ‐Commodity De eal Capture 

• Net Poosition, 

‘What‐ ‐If’ Impact Analysis 

• Volumme 

and Mark‐to o‐Market Repoorting 

• Powerr 

& Gas Schedu uling 

• Transmmission 

Reserv vation Management 

• NERC Electronic Tagging 

• Gas storage 

manage ement 

• Transpport 

managem ment 

• Risk mmanagement 

MMiddle 

Office 

• Operaational 

and reso ource constraints 

• Calculated 

Cost Asso ociated with Noon‐compliancee 

• Controols 

and Monito oring 

• NAESBB 

Compliant 

• Nominnations 

• Pipelinne 

Imbalances 

BBack 

Office 


• Invoicing 

• Paymeent 

Tracking 

• Reporrting 


Manageme ent 

• Confirrmations 

onal Inc. 

SoftSmmiths 

utilizes a “ “Subscribe andd 

Publish” archhitecture 

in 

a multii‐tiered 

client server environnment 

to alloww 

users to 

requestt 

information and receive updates dynaamically. 

It 

utilizes the Oracle DBBMS. 

Main OOffice 

10696 Haddington 

Suite 102 

Houstoon, 

TX 77043‐2847 

+1 713.626.9184 


None 


Cliennts 

• Abaacus 

Resourcess 

Energy 

• APNNA 

Energy 

• Bonnneville 

Power administrationn 

• DPI Energy 

• Indiianapolis 

Poweer 

& Light 

• Grant 

County PUDD 

• Megga 

Energy 

• Norrthern 

Indiana Public Service 

• Ourr 

Energy 

• Texas 

Power 

• Truee 

Electric 

Websitte 

http://wwww.softsmiths.com 


66




Vendorr 



RRightAnglee, 

Version S10 

SSolarc, 

Inc. 

99701 

Richmondd 

Avenue, Suite e 250 

HHouston, 

TX 777042 

onal Inc. 

Maarkets/Geog 




Solarc was 5 

CommodityP 

North Americ 

an overall m 

th overall in t 

Point’s 2009 Ve 

ca and 6 th the first to minnd 

category in 

endor Perceptioon 

study (5 

in Europe). 

It is als 

arket leader. 

th n 

inn 

so perceived ass 

SolArc is perrceived 

as a market m leader for Crude Oill, 

Coal, NGL, LLNG 

and Refin ned Products ffunctionality 

ass 

well as for Oil & Gas Pr roducers, Refiners, 

and Endd 

Users. It is also perceive ed as a markket 

leader for 

Architecture, , Service & Support, Meeeting 

Regionaal 

Requirementts, 

Reporting and 

Integrationn. 



SSolArc 

was foounded 

in 19 991 launchingg 

its RightAnggle 

pproduct 

in 19994. 

RightAngle 

is an integgrated 

softwaare 

ssolution 

for commodity 

pro ocurement, trracking 

and rrisk 

mmanagement 

aacross 

a range of industries including 

energgy, 

ffood 

and beverrage, 

investme ent banking andd 

transportatioon. 

TTargeting 

enerrgy 

companies s dealing in petroleum, 

NGLs, 

nnatural 

gas andd 

coal to inves stment bankingg, 


aand 

food andd 

beverage companies, c SoolArc 

RightAnggle 

pprovides 

functtionality 

rang ging from deal 

capture and 

sscheduling 

tto 

operation nal accountiing 

and rrisk 

mmanagement, 

aas 

well as repo orting. RightAngle 

is a compleete 


67




Vendorr 



onal Inc. 

ffront 

to back office CTRM solution that also includess 

a 

nnumber 

of add on modules: 

RRiskCenter 

– Provides 

trader rs with informaation 

about their 

tactical 

activitiees 

such as volumetric 

positions 

for spot and 

fforward 

monthhs, 

valued and d partially valuued 

deals, proofit 

aand 

loss analyysis 

and P&L shift s analysis. Correlation and 

vvariance/covarriance 

tools ar re provided too 

analyze worrst‐ 

ccase 

scenarios. 

LLogisticsCenterr 

– Provides lo ogistical functioonality 

includinng, 

ffor 

example, thhe 

ability to ta ake incoming fuel 

tickets or bbill 

oof 

lading data aand 

book them m into actuals, matched againnst 


appropriaate 

purchase/sale 

contracct, 

and pricced 

aautomatically. 

LLeaseCenter 

– Provides add ditional functioonality 

for firmms 

that 

purchasee 

crude oil at a multiple lleases 

and uuse 

ccommercial 

sooftware 

and/o or legacy royalty 

systems to 

mmanage 

lease mmovements 

an nd pricing. 

CCreditCenter 

‐ Allows credit and treasury departments to 

sset 

company credit policie es as standard 

across their 

oorganizations 

aand 

to track an nd enforce thesse 

policies acrooss 

aall 

system activvity. 

AAdditionally, 


SolArc Na atural Gas solution, 

targetiing 

PProducers 

to Ennd 

Users, offer rs the followingg 

functionalityy; 

• Productionn 

planning 

• Contract administration 

• Gas and prroduction 

acco ounting 

• Gas markeeting 

and gas co ontrol 

• Processingg 

plant and gathering 

operations 

• Gathering and wellhead allocation 

• Detailed coontracts 

capture 

Adveertisement 

• Plaant 

PVR and residue 

model 

• Inttegrated 

markeeting 

and scheduling 

• Accrual 

accounting 

and actualizzation 

SolArc also offers thee 

SolArc Develooper 

Kit to helpp 

users to 

custommize 

or extend ttheir 

RightAnggle 

installation. . 

Main OOffice 

9701 Richmond 

Avennue, 

Suite 250 

Houstoon, 

TX 77042 

Phone: 713‐260‐51000 


Dallas ‐ Tel: 214‐987‐ 8900 

Tulsa – Tel: 918‐594‐77320 

Londonn 

– Tel: +44 2033 

170 7855 

Singapoore 

‐ Tel: +65 667352522 


Cliennts 

• Chevron 

• CoonocoPhillips 

• Coonstellation 

Eneergy 

• Tysson 

Foods 

• Unnion 

Pacific Railroad 

• Southwest 

Airlinees 

• Virrgin 

Atlantic 

• Meerrill 

Lynch 

• JP Morgan 

• Barclay's 

Capital 

Websitte 

http://wwww.solarc.coom 


68




Vendorr 



RRiskPrime, 

Version 6.X 6 

SSpectrum‐Prrime 

Solutio ons, LP 

224 

E. Greenwayy 

Plaza, Suite 1180 1 

HHouston, 

TX 777046 

onal Inc. 

Maarkets/Geog 




Spectrum‐Priime 

has some e limited unprrompted 

brandd 

recognition in North America aaccording 

too 


2009 Vendor Ve Percepttion 

study as it 

is a US‐focussed 

and relative ely new vendorr. 



HHouston‐basedd 

Spectrum‐P Prime Solutioons, 

LP offeers 

cconsulting, 

sofftware 

and cu ustom software 

developmeent 

sservices 

in thee 

commodity and a risk managgement 

area. Its 

eemphasis 

is onn 

risk manage ement and it ooffers 

a suite of 

ssoftware 

produucts 

around th hat theme. Thhe 

company wwas 

ffounded 

in 20003 

by Bill Frase er and Frank Li 

who were booth 

ppreviously 

withh 

Reliant Energ gy. 

Itts 

products aree 

built on the . Net frameworrk 

and can be 

ffully 

integratedd 

with other major 

CTRM appplications. 


pproducts 

includde: 

CCreditPrime 

‐ A credit risk ma anagement annd 

administration 

ssystem 

that offfers 

functionality 

including: 

• The abbility 

to establish 

internally consistent credit 

limits with advanced und derwriting capaabilities 


69




Vendorr 



onal Inc. 

• Determmine 

net cr redit exposurre 

in a multi‐ 

commodityy, 

environmeent 

multi‐entity, 

contraactual 

nettiing 

• Providdes 

a shadow model m for unrated 

entities 

• Providdes 

full credit administration 

a 

functions 

RRiskPrime 

‐ AAn 

integrated transaction ccapture 

and rrisk 

mmanagement 

pplatform 

that in ncludes: 

• Deal ccapture 

• Security 

and audit tr rail features 

• Abilityy 

to cover many m physicaal 


products 

SSupply 

Management 

Syst tem ‐ Manages 

supply 

pprojected 

commmodity 

demand 

and includess: 

• Imporrt 

of load forecasts 

from multtiple 

sources 

• Transaaction 

capture 

• Comparison 

of supply 

and demandd 

positions 

vs. 

Main OOffice 

24 E. Greenway 

Plazaa, 

Suite 1180 

Houstoon, 

TX 77046 

Tel‐ 1‐7713‐589‐6850 


None 


Cliennts 

None PProvided 

Websitte 

http://wwww.spectrummprime.com 


70




Vendorr 



AAligne, 

Verrsion 

2.0.x x and Priorr 

SSunGard 

Eneergy 

and Com mmodities 

11331 

Lamar Strreet, 

Suite 950 

HHouston, 

Texass 

77010 

onal Inc. 

Maarkets/Geog 




SunGard Energy 

is a we 

software. In CommodityPo 

survey it raanked 

4 

recognition ( 

th ove 

(4 th ll known supp 

int’s 2009 Ven 

erall in unpro 

in North Am merica, 2 nd plier of CTRMM 

ndor Perceptionn 

ompted brandd 

in EEurope). 

It is also viewwed 

as an over rall market leaader 

(3 

market leadeer 

for crude oil l, natural gas, 

coal, and mmetals 

coverag ge, for financi 

management, 

market risk, and credit risk 

across all inddustry 

sectors, for f its architec 

support, ASSP 

delivery, ability to m 

requirementss, 

implement tation, report 

effectivenesss. 

rd ) and a 

electric powerr, 

ial transactionn 

k, for coveragee 

cture, service & 

meet regionaal 

ting and cost 



SSunGard 

Energgy 

and Commo odities is a division 

of SunGard, 

a company with 

more than 25‐years 2 of histtory 

of providiing 

ffinancial 

softwaare 

solutions. This division pprovides 

a varieety 

oof 

software solutions targeting 

energyy 

and broadder 


inncluding 

Aligne e. 

SSunGard 

has pursued an acquisition a strrategy 

acquiriing 

mmultiple 

vendoors 

including Caminus andd 

others in tthe 

pprocess 

buildinng 

one of the largest installed 

bases amoong 


vendors. 

It has offere ed a number oof 

products ovver 


71




Vendorr 



onal Inc. 


years including 

notably y ZaiNet and ACES, many of 

wwhich 

are still 

utilized by its clients. Itss 

latest produuct, 

AAligne, 

a moduular 

multi‐com mmoditysoftware 

solution suite 

that 

integrattes 

trading, risk/control, credit, fuels 

pprocurement, 

emissions compliancee, 

back‐officce, 

treasury/financce 

and senior r managementt 

information. It 

uutilizes 

an inteegration 

frame ework to movve 

data betweeen 

ffunctional 

commponents 

and d facilitate inntegration 

booth 

wwithin 

the suitte 

and betwee en the suite and 

a customeer’s 

oother 

software systems. 

AAligne 

providess 

front‐, middle‐ 

and back‐ooffice 

capabilities 

ffor 

commodity 

transactio ons. Componnents 

may be 

ccombined 

to support busin ness requiremments 

specific to 

uutilities, 

traderrs 

and producer/marketers, 

LDCs, pipelines, 

sstorage 

operattors, 

midstrea am gas compaanies, 

and larrge 

inndustrial 

consumers. 

It also a offers rreal‐time 

alerrts, 

mmessaging 

and dashboards. 

AAligne 

includess 

the following capabilities: 

• Suppoort 

for trading for f energy commmodities, 

weather, eemissions, 

heat t, freight, metaals 

and 

derivativess 

• Abilityy 

to capture ph hysical and finaancial 

instrumentts 

for multiple commodities 

• Suppoort 

for both lon ng‐term and real‐time 

tradingg 

and scheduuling 

• Abilityy 

to perform st traight‐throughh 

processing 

from deal ccapture 

to scheduling 

• Abilityy 

to manage A/ /R, A/P and all economic 

aspects of a deal includin ng brokerage/tthird 

party feess 

• Abilityy 

to calculate market‐to‐mark 

m 

ket positions inn 

real‐time aacross 

organiza ations 

• Abilityy 

to meet curre ent and future regulatory 

requirements, 

such as th hose imposed bby 

FAS 133 

• Abilityy 

to aggregate and analyze hiistorical 

and 

interval maarket 

data from m multiple souurces 

Aligne is offered in 

various coonfigurations 

sspecifically 

targetinng: 

• Energy finanncial 

traders 

• Energy physical 

traders and 

marketers 

• LDC’s, Pipelines 

and Midstream 

companiies 

• Utilities. 

Aligne is built on SunnGard’s 

Advanced 

Integration 

Platform 

is compprised 

of 4 maajor 

componennts: 

an Enterprrise 

Service 

Bus (EESB), 

a commmon 

data moddel 

for energgy, 

shared 

services, 

and a referrence 

data dattabase. 

Additioonally, 


framewwork 

provides the environmment 

for a domain 

data 

mart aand 

“adapters” ” for integratting 

applications 

on the 

framewwork. 

SunGarrd 

also offers the Entegrate 

Application Suite and 

was reecently 

mergedd 

with SunGard 

Kiodex (seee 

separate 

listing ffor 

Kiodex). 

Main OOffice 

1331 Laamar 

Street 

Suite 950 

Houstoon, 

TX 77010 

USA 

+1 713 210 8000 


Cliennts 

• Ammeren 

• Atmmos 

• EDDF 

• Fortum 

• Ibeerdrola 

Renewables 

• Maacquarie 

Generation 

• Tatta 

Power Trading 

Websitte 

http://wwww.sungard. 

.com/energy 


Other Loocations 

London: +44 (0) 20 80881 

2000 

India: +991 

20 6624 80000 

Singaporre: 

+65 6416 9790 

72




Vendorr 



KKiodex 

(Verssion 

not provid 

SSunGard 

Eneergy 

and Com mmodities 

11331 

Lamar Strreet, 

Suite 950 

HHouston, 

Texass 

77010 

ded by vendorr) 

onal Inc. 

Maarkets/Geog 




SunGard Kioddex 

was not w 

basis in the CCommodityPoi 

It did have hhigh 

prompted 

where it waas 

5 

Europe. It is a 

th well known on aan 

unprompted 

int Vendor Percception 

survey 

d brand recognnition 

however 

overall in i North Amerrica 

and 3 

also perceived as an overall m 

rd d 

y. 

r, 

inn 

market leader. 

It was also perceived as s being amonng 

the market 

leaders for MMarket 

Risk, in the hedge funnd, 

agriculturaal 

producers annd 

end user ind dustry segmennts 

and for ASPP 

delivery. 



SSunGard 

Energgy 

is a division n of SunGard, a company wwith 

mmore 

than 25‐years 

of history 

of prooviding 

financcial 

ssoftware 

solutions. 

It’s SunG Gard Energy and 


ddivision 

provides 

a variety of o software solutions 

targetiing 

eenergy 

and brooader 

commod dities includingg 

the Kiodex RRisk 

WWorkbench. 


Kiodex Rissk 

Workbench h (KRW) is a ccommodities 

rrisk 

mmanagement 

solution deliv vered via an ASP model. It 

Incorporates 

ddeal 

capture, proprietary vaaluation 

modeels, 

rrisk 

reports and 

independent 

market data to help manaage 

rrisk. 

The Kioddex 

Risk Work kbench includdes 

modules ffor 

mmanagement 

reporting, documentation 

d 

n, and at‐rrisk 

rreporting. 


73




Vendorr 




Kiodex Rissk 

Workbench provides the ability to queery 

aand 

configuree 

data for reporting r purrposes, 

featurres 

mmodules 

for management, documentation 

and at‐rrisk 

rreporting 

and aaids 

in the process 

of confirmming, 

reconcilinng, 

aand 

tracking poositions. 

KKiodex 

also offfers 

Kiodex Re eal Time to pprovide 

real‐timme 

trade 

capture, mark‐to‐mark ket and risk mmanagement 

ffor 

ccommodities. 

CCaptures 

futur res, options annd 

cleared traddes 

innstantly 

from mmultiple 

excha anges. It deliveers 

view of mark‐ 

to‐market 

valuuation 

of positions 

using rreal‐time 

markket 

pprices 

and settlements 

as we ell as providingg 

views of option 

ppositions, 

pricees 

and Greeks based upon livve 

movementss 

in 


underlying contract. 

MMain 

Office 

11331 

Lamar Strreet 

SSuite 

950 

HHouston, 

TX 777010 

UUSA 

+ +1 713 210 80000 


Locationns 

LLondon: 

+44 (00) 

20 8081 2000 0 

India: 

+91 20 6624 

8000 

SSingapore: 

+65 6416 9790 

RRepresentativee 

Clients 

• Ameren 

• Bayer AG 

• Etihad Airlines 

and other r global and reggional 

airlines 

• R. J. O’Brieen 

WWebsite 

hhttp://www.sungard.com/en 

nergy 

onal Inc. 

Copyright 2010 UtiliPoint International, Inc. 74




Vendorr 



TTRADEPAQQ: 

TRM, Version Ve 3.1 

TTRADEPAQ 

TTRM 

llc. 

1150 

White Plainns 

Road, Suite 301 

TTarrytown, 

NY 10591 

onal Inc. 

Maarkets/Geog 




TRADEPAQ hhas 

its origins s in metals traading 

and riskk 

management 

only recently y moving into Energy and ass 

a result it wwas 

not repre esented in thee 

2009 Vendor 

Perception survey performed 

by CoommodityPointt. 

However, CoommodityPoint 

t expects it to rank highly inn 

the 2010 Noon 

Energy Com mmodity Venddor 

Perceptionn 

study. 



TTRADEPAQ 

TRMM 

LLC is a glo obal provider of supply chaain 

eexecution, 

tradde 

and risk management m 

ssoftware 

for tthe 


iindustry. 

Its flagship f product, 

TRADEPAAQ: 

TTRM, 

is enteerprise 

softwa are for commodity 

tradinng, 

ddistribution, 

aand 

producing g firms. TRADDEPAQ 

offers a 

nnumber 

of soolutions 

inclu uding contracct 

management, 

ccompliance, 

exposure an nd risk anaalysis, 

logistics, 

wwarehouse 

aand 

inventory 

managemeent, 

documeent 

ppreparation, 

caash 

management, 

financial settlement, and 

trade 

chain coollaboration. 

The T company focuses on tthe 

nneeds 

of Tradeers, 

Producers s, and Distribuutors 

of physical 

aand 

financial coommodities. 

TTradePaq 

is paart 

of a three (3) company software grooup 

ffounded 

in 19978 

with over 

250 employyees 

and 10000+ 

ccustomers. 


75




Vendorr 



TTRADEPAQ 

TRMM 

provides an n ERP and Heddging 

system ffor 


softs, metals, 

and energy e industtries 

known as 

TTRADEPAQ: 

TTRM. 

It includes 

physical 

and futuure 


trrading, 

contr ract management, 

hedginng, 

loogistics, 

invenntory 

& warehouse 

management, 

financcial 

aaccounting, 

P&&L 

by contrac ct, vessel or shipment; caash 

mmanagement, 

plus sales profitability and reportinng. 

Itt 

currently seerves 

clients in many commmodity 

markeets 

inncluding 

metaals 

(LME metals, 

ferroalloyys, 

concentrates, 

pprecious 

metalls, 

minor meta als, scrap, and steel); mineraals; 

pplastics; 

chemicals 

(petro‐ch hemicals, induustrial 

chemicaals, 

ffood 

oils. bio‐ ‐fuels); energy y (petroleum, coal) and soofts 

( coffee, sugar, cacao, rice, cotton). 


software inncludes 


modules 

and high levvel 

ffunctionality: 

• Front Office 

o Phhysical 

Sales & Purchases 

o Fuutures, 

Options, 

Forex & Brokerage 

o Poosition 

Management 

o Trrading 

tools 

• Supplyy 

Chain Manag gement 

o Loogistics 

o Bllending 

& Repr rocessing 

o Innvoicing 

o WWarehouse 

man nagement 

o Plledging 

• Hedginng 

& Risk Management 

o Fuutures 

o Options 

o FXX 

o Brrokerage 

o Coombined 

posit tions 

o Coompliance 


Manageme ent 

o Prrofit 

and cost management 

m 

o Coompliance 

o Caash 

Manageme ent 

onal Inc. 

o Financiaal 

accounting 

TradePPaq 

TRM also ssupports 

work flow via the TTRADEPAQ: 

TRM WWorkbench 

Designer. 

The sooftware 

is devveloped 

on 

Servicee 

Oriented archhitecture. 

Main OOffice 

150 Whhite 

Plains Roaad, 

Suite 301 

Tarrytoown, 

NY 105911 

USA 

+1 914 332 9174 


Netherrlands: 

+31 3411‐556166 

India: + +91 22 6712 68821 

Columbbia: 

+571 6 3566760 


Cliennts 

• Arccelor 

Stainless USA 

• Noorilsk 

Nickel 

• Vitterra 

• Unnited 

Companyy 

Rusal 

• Cooex 

Coffee 

• ArccelorMittal 

• ELGG 

Websitte 

http://wwww.tradepaqqtrm.com 


76




Vendorr 



CCommoditty 

XL (Version 

TTriple 

Point Technology, 

Inc. 

3301 

Riverside AAvenue 

WWestport, 

CT UUSA 

06880 

onal Inc. 

number not proovided 

by vendoor) 

Maarkets/Geog 




Triple Point 

ranked #1 1 for unproompted 

brandd 

recognition in Commo odityPoint’s 22009 

Vendor 

Perception ssurvey. 

It was s also rankedd 

#1 in Northh 

America andd 

#3 in Europ pe. It was peerceived 

as ann 

overall markket 

leader (#2) in that survey. 

Triple Point is also percei ived as a marrket 

leader for 

crude oil, naatural 

gas, electric 

power, cooal, 

NGL, LNGG, 

Refined prodducts, 

Ags, and d Metals, as weell 

as a market 

leader for fiinancial 

transa action manageement, 

market 

risk, and creddit 

risk. It is als so viewed as a market leader 

in serving Uttilities, 

Oil & Ga as, Refining & Petrochemicall, 

merchants, rretailers, 

banks s and end userrs 

as well as for 

architecture, , service & sup pport, ASP deliivery, 

reportingg 

and meetingg 

regional requirements. 



TTriple 

Point waas 

founded in 1993 1 and todayy 

offers a tradiing 

aand 

risk managgement 

solutio ons for commodities 

includiing 

ppower, 

oil, gass, 

coal, metals, 

agricultural pproducts, 

freigght 

aand 

biofuels. TTriple 

Point’s Commodity C XLL 

provides front‐ 

to‐back 

officee 

functionality 

for the ssupply, 

tradinng, 

mmarketing 

andd 

movement of commodities 

on a singgle 

pplatform. 


Commoditty 

XL suite of o solutions frrom 

Triple Point 

TTechnology 

is a trading and risk managemment 

system thhat 


77




Vendorr 



onal Inc. 

wworks 

across mmultiple 

comm modities, in reaal‐time 

from tthe 

ffront‐ 

through the back‐offi ice. It utilizes a standardizeed, 

ccomponent‐based 

architectu ure. The architecture 

enables 


control of data granular rity down to tthe 

month, daay, 

hhour 

or sub‐hoour 

and allows s the pluggingg 

in of additionnal 


oon 

demand with w no changges 

to the coore 

pplatform. 

DDifferent 

confiigurations 

of the product aare 

available ffor 

sspecific 

purposses 

or modules s can be combiined 

to providee 

a 

ssingle 

platformm, 

multi‐comm modity solutionn. 

Preconfigurred 

ssolutions 

includde: 

• Agricuultural 

• FFreight 

Commoditties 

• MMetals 

• Biofueels 

• NNatural 

Gas 

• Charteering 

& Vessel • OOil 

Operationss 

• PPower 

• Coal 

• BBanks 

• Emissiions 

AAdditional 

moddules 

are also optionally o provvided 

includingg: 

• Creditt 

Risk ‐ measur res, manages aand 

mitigates tthe 

risk arisingg 

from counte erparty default 

and addressses 

the entire credit risk pro ocess with a full 

range of credit 

analysis annd 

operational tools in 3 key areas: exposure, 

collateral aand 

counterparty 

managemeent. 

• Fair Value 

Disclosure 

– a module for FAS 157 and 

IFRS 7 commpliance. 

It pro ovides the toolss 

and framewoork 

to define, measure and manage fair value levels and 

meet all disclosure 

requirements 

• Hedgee 

Accounting ‐ ensures compliance 

with FFAS 

133 and IAAS 

39 requirem ments and otheer 

country heddge 

accountingg 

standards. 

• Managgement 

Dashb board ‐ mines trading, risk and 

supply chaain 

data to pro ovide analysis to key decisioon‐ 

makers. 


XCChange 

‐ prrovides 

real‐ ‐time, straighht‐through 

proocessing 

(STP) from exchangge 

trade execuution 

to all 


XL fuunctions 

Triple Point also offfer 

hosted/SaaS‐based 

verssion 

of its 

software 

and, via, CCommodity 

SL, , a fully SAP integrated 

versionn 

of the softwware 

on the SAP platform. 

The SAP 

solution 

is offered for power, oil, gas, coaal, 

metals, 

agriculttural 

products, , biofuels and ffreight. 

Main OOffice 

301 Rivverside 

Avenuee 

Westpoort, 

CT USA 06880 

+1.203.291.7979 


Cliennts 

• ABB 

Grain 

• Asttra 

Oil 

• Carrgill 

OT 

• Duke 

Energy 

• EDF 

Trading 

• Esssent 

Trading 

• Gleencore 

Grain 

• Hess 

Corporationn 

• Moorgan 

Stanley 

• Niddera 

• Peaabody 

Energy 

Websitte 

http://wwww.tpt.com 


Parsipppany: 

+1.973.2444.1661 

Houston: 

+1.713.334. .9339 

Londonn: 

+44 (0)20.70065.7650 

Sao Pauulo: 

+55.11.35668.2422 

Vienna: 

+43 18 9030 44090 

Pune: + +91.20.2582.10010 

Singapoore: 

+65.6832. 5940 

Chennaai: 

+91.44.42177.7982 

Genevaa: 

+41 (0)21.8225.5656 

Cape Toown: 

+27 21.8883.8060 

• Plains Exploration & 

Productioon 

• Scottissh 

Power 

• State Oil Company oof 

Azerbaijan 

Republic 

• Trafigura 

• TransCCanada 

• TVA 

• UBS 

• Washiington 

Gas 

• Wingaas 

78




Vendorr 



TTRM 

(aka MMonaco), 

Version 5 

VVentyx 

33301 

Windy Riddge 

Parkway 

SSuite 

200 

AAtlanta, 

GA 303339 

onal Inc. 

Maarkets/Geog 




Ventyx wass 

ranked 5 

recognition 

Perception s 

market leade 

t 

in Commos 

study and was 

er (5 th th 

on unproompted 

brandd 

sdityPoint’s 22009 

Vendor 

s also ranked as an overalll 

). 

It was also ranked as a perceived p marrket 

leader for 

natural gas, , electric pow wer, and coaal 

as well ass, 

Utilities, Genneration, 

and retailers. It waas 

also amongg 

the perceiveed 

market lea aders for arcchitecture, 

andd 

integration. 



VVentyx 

is a buusiness 

solutio ons provider to global 

eenergy, 

utilityy, 

communica ations, and other 

asset‐ 

intensive 

orgaanizations. 

It offers a broad 

range of 

ssolutions, 

inclluding: 

• Asseet 

management 

• Mobiile 

workforce management 

m 

• Custoomer 

care 

• Energgy 

trading and risk managemment 

• Energgy 

operations 

• Energgy 

analytics 


79




Vendorr 




Ventyx TRRM 

solution is i designed too 

addresses tthe 

nneeds 

of asset centric electricity 

and gas uutilities 

providiing 

inntegrated 

fronnt, 

middle and d back office fuunctionality 

wwith 

sstraight 

througgh 

processing g with a focuus 

on managiing 

trading 

transacctions 

and risk k exposure for complex asseets. 

VVentyx's 

Trading 

and Risk Management (TRM) solutioon, 

aallows 

organizzations 

to me easure and monitor 

the rissks 

aassociated 

wiith 

commodit ty positions resulting froom 

ooperations, 

inccluding 

natura al positions (suuch 

as load and 

ggeneration) 

aand 

positions 

resulting from bilateeral 

aagreements. 

TTRM 

provides aan 

integrated front‐, f middle‐ , and back‐offiice 

ssolution 

that caaptures 

physical, 

financial, annd 

asset 

transactions 

accross 

all energy y commodities. 

In addition, itt 

ooffers: 

• straighht‐through 

pro ocessing 

• Thin client 

structure 

• Real‐time 

credit and d trading limits monitoring 

• Conveergence 

of mar rk‐to‐market projections 

to 

actual resuults 

• Advannced 

valuation algorithms, inccluding 

Montee 

Carlo and ccustom 

proprie etary algorithmms 

Itt 

also includes: 

onal Inc. 

FRONT OFFFICE 

• Multi‐ ‐commodity Transaction 

Captture 

• Forwaard 

Market Assumption 

Captuure 

• Closedd‐Form 

and Mo onte Carlo Valuuation 

• Forwaard 

Position and 

Value Analyssis 

• Scheduling 

&Pathing g 

MIDDLE OFFFICE 


Administration 

• Confirrmation 

Genera ation and Traccking 

• Creditt 

Management 

• Forwaard 

Cash Flow, Risk Analysis, aand 

Advanced 

Risk Analyttics 

BAACK 

OFFICE & OOPERATIONS 

• Counterpartty 

Checkout 

• MTM / Actual 

Convergence 

• FAS‐133 Commpliance 

• Managemennt 

Reporting. 

TRM iss 

browser baseed 

and uses XXML 

as the datta 

transfer 

mechannism 

between tiers. 

Main OOffice 

3301 WWindy 

Ridge Pkkwy 

Suite 200 

Atlantaa, 

GA 30339 

770‐952‐8444 


Cliennts 

• Eneercity 

• Eneergi 

E2 

• Unitted 

Energy Traading 

Websitte 

http://wwww.ventyx.com 


Other Loocations 

Boulder: : 720‐240‐55000 

Pittsburggh: 

412‐471‐68800 

Columbuus: 

614‐486‐67711 

Richmonnd: 

604‐207‐60000 

Houstonn: 

1‐713‐243‐71160 

Sacrameento: 

916‐569‐00985 

Kansas CCity: 

816‐880‐44656 

Australiaa: 

+61 7 3839 22662 

Tokyo: + +81‐3‐5275‐26334 

Woking, UK: +44‐1483‐722777 

Montignny‐le‐Bretonneux, 

France: + +33‐13930‐17117 

Centuriaan, 

RSA: +27 122 

665 3600 

80




Vendorr 



EElviz 

ETRMM 

(Version num 

VViz 

Risk Mannagement 

Se ervices 

FFjøsangerveienn 

50, Entrance D 

BBergen, 

Norway 

onal Inc. 

mber not proviided 

by vendorr) 

Maarkets/Geog 




VIZ Risk Man 

ranked 13 th 

nagement is well w known in EEurope 

where iit 

h 

in unpromp pted brand rrecognition 

inn 


2009 Ve endor Perceptioon 

Study. 



SScandinavian‐bbased 

Viz Risk k Managemennt 

develops rrisk 

mmanagement 

systems for energy e markeets. 

Most of its 

ssystems 

are inncluded 


Elviz ETRM package whiich 

ssupports 

the trrading 

of elect tricity, gas, cooal, 

emission and 

ccurrencies. 

It also 

offers train ning and consulting 

services. 

VVIZ 

Risk Management 

was established e in 1992, providiing 

ccustom 

develooped 

front of ffice models ffor 

interest raate 

traders. 

Viz Rissk 

Managemen nt’s Elviz ETRMM 

product suitee 

is 

a solution dessigned 

to mee et challenge oof 

managing tthe 

rrisks 

in energgy 

operations s. It includess 

the followiing 

ffeatures: 

Trading & Pricing ‐ Elviz E ETRM alllows 

pricing of 

standard aand 

non‐stand dard contracts 

using forwaard 

curves and 

volatility surface s deriveed 

from quotted 

product pprices. 

Both the forward curve and tthe 

volatility ssurface 

are arbitrage‐free. 

The curves aare 

calculated in real‐time down to hoourly, 

or lower, 

granularityy 

(bid and ask k) in a multipple‐currency 

and 

multi‐commodity 

enviro onment. Optioon 

contracts aare 


81




Vendorr 



onal Inc. 

valued usiing 

the volatil lity surface, bbased 

on bid‐aask 

spreads of f different quot ted strikes to pprice 

non‐quotted 

instrumentts. 

Analysis ‐ The Elviz ETR RM system is ddesigned 

to heelp 

with the analysis 

of busi iness opportunnities 

in complex 

energy maarkets. 

User definable d repoorts 

and grapphs 

help to analyze risk and potential 

profits on 

instrumentts 

offered or on o existing porrtfolios. 

The Elviz 

Data Manaager 

toolset allows 

users to perform analyysis 

on historiccal 

data. 

Risk Manaagement 

‐ Elviz 

Risk Managgement 

tools aare 

based on standard st tatic and dynnamic 

analytical 

methods ttailored 

to the e need of international 

enerrgy 

markets. Among the standard feeatures 

is tthe 

calculationn 

of "greeks" (option ( risk inddicators) 

in reeal‐ 

time and the Monte‐Carlo 

simulaation 

of futuure 

forwards curves, consi istent with today's 

forward, 

future and option markets. 

Reporting ‐ Elviz ETRM comes 

with a reeporting 

solution 

for markinng‐to‐market 

and a calculatingg 

profit and looss 

(realised and 

unrealised) ), value‐at‐risk and cash floww 

at 

risk. As weell 

as for analysing 

exposure 

and sensitivvity 

and for vieewing 

cash flo ows and physical 

balance with 

different hhedge 

perspect tives including realised data. 

Market acccess 

and inte egration ‐ Elvizz 

ETRM can taake 

informatioon 

from different 

markets in real‐time and VViz 

Risk Managgement 

contin nuously works to integrate neew 

informatioon 

sources, com mmodities andd 

exchanges. This 

means that 

the sy ystem, wherre 

appropriate, 

automaticaally 

capture an nd updates trannsactions 

VIZ claiims 

more thann 

60 customerss 

in 8 differentt 

European 

countriies 

as clients oof 

the Elviz ETRRM 

software‐solution 

for 

tradingg 

and risk management 

as an integratedd 

Front‐to‐ 

Back ssolution. 

Theese 

clients innclude 

Energyy 

traders, 

Investmment 

Banks, Oiil 

Majors and PPortfolio 

Manaagers 

using 

Elviz foor 

Electricity, GGas, 

Emission CCertificates, 

Cooal 

as well 

as Currrency‐ 

and inteerest 

markets. 

Main OOffice 

Viz Riskk 

Managementt 

Services AS 

P.B 62116 

N‐ 58933 

Bergen 

Norwayy 

+47 55 30 28 00 


Oslo: + 47 55 30 28 000 

Amsterrdam: 

+31 20 4491 

9395 

Munichh: 

+49 (0) 89 2442 

18 234 


Cliennts 

• Hyddro 

• Forttum 

• Telgge 

Kraft 

Websitte 

http://wwww.viz.no 


82




Vendorr 



PPhoenix 

ETTRM, 

Versi ion 4 

WWoodlands 

SSolutions, 

LL LC 

5594 

Sawdust Rooad, 

Suite 174 


Woodlandss, 

TX 77380 

onal Inc. 

MMarkets/Geographies 

SServed 

CommodityPoin 

nt Research HHighlights 

Phoenix is a relatively ne ew entrant innto 

the CTRMM 

marketplace, having been founded in 22008, 

and hass 

only within thhe 

last year be egun signing nnew 

customerss 

to their produuct. 

Company/Pro 

oduct Informmation 

WWoodlands 

Sollutions 

is a spe ecialist CTRM vvendor 

currenntly 

ffocused 


gas marke eting market segment. Their 

pproduct, 

Phoeenix 

ETRM ha as been desiggned 

to proviide 

immproved 

operrational 

efficie ency, manage exposures, and 

ddemonstrably 

improve control 

over operations. 

Phoenix 

EETRM 

providess 

gas marketi ing organizatioons 

with a coost 

eeffective, 

fronnt‐to‐back 

off fice, scalable solution which 

aallows 

custommers 

to focus on managingg 

their positioons 

rrather 

than maanaging 

their data 

and processses. 

PPhoenix 

ETRMM 

provides gas marketters 



thhey 

need to au utomate and sstandardize 


ooperations, 

including: 


Administr ration including 

descriptive 

informmation 

(e.g. legal name, DUNS numbeer, 

etc), processing information i 

(e.g. company 

level credit and in nvoice nettingg 

rules, trading 


83




Vendorr 



onal Inc. 

restricctions, 

cred dit violationn 

notification 

parammeters, 

etc), as s well as an unnlimited 

numbber 

of adddresses, 

bank 

accounts ( to support tthe 

invoicing 

process ses), emplooyees, 

pareent 

• 

relatioonships. 

Also provides p for 

Deal CCapture, 

includ ding: physical deals (e.g. fixeed, 

exchange, 

etc), finan ncial deals (e.gg. 

futures, swaps, 

etc), assets (e.g. storage, s transsport, 

etc), and 

forecaasts 

(multi‐laye ered load foreccasts, 

production 

forecaasts, 

etc) 

• Confirrmation 

Mana agement, allowwing 

clients to 

standaardize 

and automate thhe 

process of 

• 

validatting 

deal term ms, including bboth 

an internnal 

validattion 

process in which thee 

trader (or tthe 

traderr’s 

designate) is required to confirm tthe 

terms of the deal as well as ann 

external, user‐ 

defineed 

confirmation n process 

Markeet 

Data Manag gement autommates 

collectioon 

and sttorage 

of market 

data 

• Valuattion 

utilizing a single vaaluation 

engiine 

providding 

accurate valuations whhile 

ensuring tthe 

convergence 

of forward mark‐to‐markket 

• 

projecctions 

with actu ual results. 

Positioon 

Management 

enables eacch 

user to defiine 

multipple 

simple or complex views 

of positioons 

withinn 

the portfolio (or subset of the portfolio) so 

that eeach 

user can filter and grooup 

the data to 

meet their respectiv ve needs. Useers 

can filter and 

group position data over virtually aany 

attribute 

• Risk AAnalysis 

allows users to meassure 

and monittor 

the rissk 

inherent in their t portfolio(s) 

or any subsset 

of thee 

portfolio. Users U can vieww 

positions and 

sensitivities 

in mu ultiple dimensions 

includinng, 

Mark to Market, Discounted D MMark 

to Markket, 

Physiccal 

Exposure, Cash Flow, Delta, 

Discountted 

Delta, Gamma, Vega a, Theta, and Rho. 


• 

• 

• 

• 

Scheduling supporting multiple transport 

agreements with external name trackingg; 

multiple 

fuel matricees 

(point to pooint, 

zone to zone, etc) 

with deal level 

control over 

automatic uupdates 

of 

losses and charges; capaacity 

release; automatic 

unit of meeasure 

conveersions 

acrosss 

volume, 

weight, and 

energy unnits 

of meassure; 

and 

automatic tiime 

zone adjuustments 

for trransported 

volumes 

Credit Manaagement 

Settlement 

Standard and 

Custom Repoorting 

Phoenix 

ETRM is a sttandards 

based 

application built using 

the Microsoft 

technoologies 

(includding 

WCF, WPF, 

and C#) 

and feaatures 

an n‐tieer, 

work‐flow eenabled, 

servicce 

oriented 

architecture 

(SOA) with an integrated ddistributed 

processsing 

engine. The architeccture’s 

modullar 

design 

providees 

flexibility wwhen 

deploying 

the applicattion 

(using 

HTTP, TCP/IP, Nameed 

Pipes, etc. Additionally cclients 

can 

alter thhe 

mix of hardwware 

supportinng 

the applicattion 

at any 

time annd 

facilitating ssystem 

growthh 

with the organization. 

Main OOffice 

594 Sawwdust 

Road, Suuite 

174 

The Wooodlands, 

TX 777380 


Cliennts 

None PProvided 

Websitte 

http://wwww.woodlanndssolutions.coom 

84

CommodittyPoint, 

a division 

of UtiliPoint Inte 

CTRM Venndor 

and Pro oduct Sourcebbook 

References 

& Ot ther Usefu ful Resourrces 

Referencces 


‐ ETRM M Vendor Perceeption 

Study Reeport, 

May 20009 

Useful RResources 

Vasey, Garry 

M and Bruce, 

A: Trends in Energy Tradinng, 

Transactionn 

and Risk Mannagement 

Software 

– A Primeer, 

Booksurgee 

Publishing, 20 006 

Reames, PPatrick 

and Vas sey, Gary M: SSelecting 

and Immplementing 

EEnergy 

Trading, g, Transaction aand 

Risk 

Managemeent 

Software – A Primer, Boooksurge 

Publishhing, 

2008 

The TRM DDirectory 

– http p://www.trmddirectory.com 

ETRM Commmunity 

– http p://www.etrmccommunity.comm 

CTRM Blogg 

– http://www w.ctrmblog.comm 

ernational Inc. 

Copyrigght© 

2010 UtiliPoint 

International, IInc. 

All RRights 

Reserved 

UtiliPoiint 

International, In nc. 

6000 Uptownn 

Boulevard NE, Suuite 

314 

Albuqueerque, 

New Mexicoo 

87110

CommodittyPoint, 

a division 

of UtiliPoint Inte 

CTRM Venndor 

and Pro oduct Sourcebbook 

About CommodityPoint 

ernational Inc. 


provid des Commoditty 

Trading & RRisk 

Managemment 

(CTRM) research, analysis 

and conssulting 

services. OOur 

services bring b insight innto 

business isssues, 

trends, processes annd 

technology, , to utilities, eenergy 

companiess, 

banks, brokers, 

funds, invvestors 

and veendors 

that ennhance 

their ccompetitive 

position 

and suupport 

critical bussiness 

decisions. 

CommodityyPoint 

has beenn 

formed to brring 

focus and clarity to the bbroad 

array of issues 

surroundinng 

the wholesa ale trading of commodities. Our team proovides 

expert analysis of maarket 

trends aand, 

in 

particular, the technolog gies and applications 

suppoorting 

those thhat 

participatee 

in regional oor 

global commmodity 

markets. OOur 

principal analysts, a Dr. Gary 

Vasey andd 

Patrick Reammes, 

bring years 

of practical experience too 


roles. Withh 

offices in Eur rope and the UUS, 

and backedd 

by an experienced 

research 

team, our organization 

proovides 

an unparalleled 

view of the marketplaace. 


is a divvision 

of leadinng 

energy and utilities analyst 

and 

consulting firm, UtiliPoint 

International, 

Inc. 

CCONTACTS 


‐ A Division 

of UtiliPoint 

Internatioonal, 

Inc. 

www.commmodity‐point.com 

The Ammericas 

– Patricck 

Reames, Managing 

Directtor 

19901 Southwwest 

Freeway, Suite 121 

Sugar Land, 

Texas 774799 

USA 

Phonee: 

281‐207‐54440 

Europe & Assia/Pacific 

– Drr. 

Gary M. Vaseey, 

Managing Director 

Internatioonal 

Business CCenter 

Prikop 4 

602 00 Brno 

CCzech 

Republicc 

Tel: +442 

0 533 433 6558 

info@commmodity‐pointt.com 

Copyrigght© 

2010 UtiliPoint 

International, IInc. 

All RRights 

Reserved 

UtiliPoiint 

International, In nc. 

6000 Uptownn 

Boulevard NE, Suuite 

314 

Albuqueerque, 

New Mexicoo 

87110




Vendorr 



onal Inc. 

AAbout 

UtiiliPoint® 

Internatiional, 

Inc. 

FFor 

more than 75 years, UtiliPoint 

Internatiional®, 

has beeen 

a trusted soource 

of insight 

into the energy 

and utilitiees 

industry. 

WWith 

more than 

500 clients worldwide, w we are the leadinng 

provider of research and aadvisory 

servicces 

for the energy 

sector. 

OOur 

company is comprised of industry exxperts 

from around 

the woorld 

with diverrse 

backgrounnds 

in utility ggeneration, 

transmission 

and 

distribution, 

retail markkets, 

mergers and acquisitioons, 

new technnologies, 

ventture 

capital, innformation 

technology, 

outsourcing, 

rene ewable energyy, 

regulatory afffairs 

and interrnational 

issues. 

UtiliPoinnt 

International, 

Inc. is a wholly 

owned subssidiary 

of Midaas 

Medici Groupp 

Holdings, Incc. 

(OTCBB:MMED). 

UtiliPoint is heeadquartered 

in n Albuquerquee, 

New Mexico, , USA and can be found on thhe 

Web at http://www.utilipooint.com/. 

Copyright© 22010 

UtiliPoint Int ternational, Inc. All Rights 

Reserved 

UtiliPoint Intternational, 

Inc. 

6000 

Uptown Boullevard 

NE, Suite 314 

Albuquerque, New Mexico 87110

Th he Co ommo Pro odityP oduct Point t Sour t CTR rcebo M So ook ...

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