Essent Trading Goes Live on Asset Control for Data Management

5 August 2008

Asset Control, a world-wide leader in financial data management solutions, today announced that Essent Trading has implemented Asset Control’s data management software to replace Essent Trading’s proprietary pricing database. Essent Trading uses the Asset Control solution to centralize energy and commodity market data in a faster, scalable and extensible environment with sophisticated analytical requirements.

With Essent Trading’s continued growth in energy and commodities across key markets in Europe, the ability to manage increasing volumes of complex data and to perform sophisticated analysis is critical to maintaining competitive advantage. Essent Trading required a solution that would improve performance and scalability, and accommodate future time series data needs such as volume profiles and weather data.

Leon Smits, CIO at Essent Trading, said, “Because the energy industry is highly distinct, complex and uniquely demanding, our technology requirements needed to match our specific needs. Asset Control was the best fit for our criteria for future business functionality, performance, scalability and robustness. The software’s time-series calculations were a key factor in our decision, as was its ability to streamline data export and data access, and reduce risks by allowing a more precise view of data.”

Asset Control’s expansion tools help Essent Trading to quickly support new data feeds and prepare pricing data for risk engines, valuation, mark-to-market and position reporting, and user data checks and desktop calculations.

Phil Lynch, Asset Control’s president and chief executive officer, said, “Our customers appreciate our flexible and modular approach which allows them to solve today’s tactical business issues while building a data management infrastructure that enables them to be more nimble in meeting the firm’s growth and expansion plans. We’re thrilled to be Essent Trading’s data management partner and look forward to working with our growing base of customers in the energy sector.”

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