Capitalizes on recent acquisition of Enerbility in conjunction with newly developed functionality to provide ground-breaking solution for European gas markets
Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today general availability of Commodity XL for European Gas 8.0. Commodity XL 8.0 leverages European Federation of Energy Traders (EFET) standards to provide expanded and integrated functionality across deal capture, pricing, position management, valuation, scheduling, and settlement for UK and Continental European gas.
Triple Point is a noted CTRM leader in the European market. A CommodityPoint® report titled 'Triple Point's European Success Story,’ observed that, "Triple Point has been remarkably successful at establishing itself as among the most widely recognized and successful commodity trading and risk management software vendors in Europe. The software company's success is largely attributed to key acquisitions that expanded its product suite across counterparty credit and regulatory risk management, a valuable alliance with SAP, and the addition of key staff to support local clients and drive expansion."
“At the end of 2009, Triple Point acquired Enerbility, the pioneer in using EFET standards to automate back-office processes in the energy trading industry,” said Roger Walton, VP, European Field Operations, Triple Point. “The release of 8.0 leverages the Enerbility acquisition, furthering Triple Point’s product advantage in the European markets, and will fuel continued and rapid expansion throughout Europe.”
The ground-breaking functionality included in Commodity XL for European Gas 8.0 notably improves Triple Point’s product leadership position. The solution builds Commodity XL’s base capability across the front, middle, and back-office and augments it with localized functionality for the UK and Continental European gas markets:
• Enhanced index pricing for UK and Continental gas trading
• Gas scheduling for entry/exit system models (UK, Belgium, Holland)
• Gas scheduling for point-to-point system models (German/Austria/Eastern Europe)
• Ability to transport gas between markets with entry/exit and point-to-point system models
• Physical gas capacity usage and release in entry/exit and point-to-point system models
• Physical gas contracts indexed to a number of alternative fuels such as Gas Oil and Fuel Oil
• Formula capability to support monthly average prices and automate the ’look-back‘ rules
• Alignment of trading, scheduling, and settlement by Market/Country
• Different market rules and granularity for trading (hourly/sub-hourly) and physical settlement
• All confirmation documents required under EFET standards
• Increased coverage of gas swing, ToP (Take-or-Pay) contracts
“Commodity XL for European Gas 8.0 adds advanced functionality designed to handle the intricacies of the complex European region,” said Mike Ravo, VP, industry solutions, Triple Point. “The release represents the culmination of intense product development efforts focused exclusively on the particular needs of the European gas markets. Traders, marketers, producers, large consumers, wholesalers, and local distribution companies can all benefit from Triple Point’s integrated, front-to-back office solution.”
In the last 12 months Triple Point has expanded its European presence with new R&D and support centers in Geneva and Vienna and professional staff growth of more than 75%. Triple Point’s European customers include such distinguished organizations as Nidera, Evonik, Agroetanol, Electrabel, RWE, Klesch & Company, Vertical, SOCAR, Unilever, Tullow Oil, Hellenic Petroleum, Alpiq AG, BKW FMB, E.ON, Statkraft Markets GmbH, Vattenfall Energy Trading Netherlands NV (formerly N.V. Nuon), Verbund APT, Verbund Austrian Power Trading AG, Eitzen Bulk, EDF, Eiger Shipping (Litasco), Gunvor, Electrabel, and Scottish Power.
Solution Controls Commodity Volatility, Ensures Margin Stability, and Improves Vendor Negotiations Triple Point Technology, the leading global provid...View article
Increases Profitability by Proactively Managing Commodity Risk Triple Point Technology, the leading global provider of on-premise and in-cloud Commo...View article
Provides Business Intelligence for all Aspects of the Agriculture Supply Chain Triple Point Technology, the leading global provider of on-premise an...View article