Shell Trading live on energycredit for oil trading

12 August 2008

Financial Objects, an international supplier of software solutions to the financial services sector, today announced that Shell International Trading & Shipping Company (Shell) is live on its energycredit credit risk management platform. Users in London, Houston and Singapore are now using the energycredit system to manage Shell's credit risk exposures on a global basis across its oil, gas and power trading operations.

Financial Objects and Shell jointly developed specific credit risk functionality for oil trading to provide the first fully integrated cross-commodity credit risk management system. Key aspects of the development were a pre-deal checker and secondary risk management. This functionality is now available on general release in the latest version of the software solution - energycredit 2.1.

"energycredit is the first credit risk management system that can truly handle the complexities of event-based exposure management required for trading oil and other soft commodities. Shell Trading, which went live on the core of the energycredit solution for gas and power trading in 2007, is now benefiting from a fully integrated system that provides a single, global view of credit exposures, more effective management of working capital and enables its traders to work credit limits harder," commented Roland Jones, managing director - Risk Management division, Financial Objects.

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