Triple Point Technology, Inc., the leading global supplier of cross-industry software platforms for the supply, trading, marketing, and movement of commodities, announced today the general availability of Commodity XLâ¢ 6.0. In independent lab testing Commodity XL, already the highest performing ETRM system, demonstrated a 5X leap forward in performance.
This record setting performance level enables the Triple Point solution to provide enterprise-wide functionality and granular decision support that is not available in competitive systems. The ability to handle much more data faster enables Commodity XL 6.0 to capture, make available and manage every detail of a trade, schedule, counter-party contract, etc. at the lowest level of granularity.
âThis is not an incremental improvement the engineering team has achieved with Commodity XL 6.0. We have set the bar for how systems will have to perform in the coming years,â said Karan Renjen, vice president, engineering, Triple Point. âThe huge amount of data required to manage a global operation and provide the best decision support will continue to grow exponentially over the years and the technical break-through we made in Commodity XL 6.0 will serve our customers well.â
The ability to âcrunchâ through larger sets of data create large business intelligence competitive advantages which can be seen in new functionality such as P&L attribution, risk coasters, hourly scalars and user defined forward price curve blocks. Also, the more granular processing of data supports our customers need for more and more complex deal structures; Commodity XL 6.0 includes new functionality for complex pricing formulas, the ability to view pricing details based on component details and custom payment events. In addition, advantages can be seen in the new globalization functionality in 6.0 including real-time FX exposure for all trade types, normalization of price curves for different currencies and the ability to view the P&L in single or multiple currencies.
âTrade volumes continue to grow at an astounding pace. Both NYMEX and ICE set records in 2006, and in January NYMEX passed, for the first time ever, 2 million contracts traded in a day,â noted Mike Ravo, vice president, industry solutions, Triple Point. âWith the rapid growth of volumes, performance becomes even more important. A major energy company recently tested Commodity XL 6.0 in its lab and was astounded by the performance. They havenât seen another system in the market that comes close to these performance levels.â
Commodity XL 6.0 has over 300 new functionality items across all areas of the system. For example, the power scheduling solution has an âintelligentâ bookout wizard that analyzes open power positions and suggests bookouts. Commodity XL 6.0 enhances its leading edge support for compliance and control by adding data level security that enables the securing of data down to the lowest level.
Commodity XL has been adopted by leading financial institutions, energy companies, softs organizations and commodity trading houses. It is the only true next-generation solution built specifically from the ground up for high-volume, complex transaction management organizations. Commodity XL meets all the requirements for trading in today's highly volatile environment: multi-commodity capabilities, real-time integration of physical and financial positions, comprehensive risk management and scalability. Comprised of a family of commodity-specific products that can be deployed alone or in seamless combination with each other, Commodity XL manages every aspect of global cross-industry supply, trading, marketing and logistics operations.