Eka supports new LME cobalt and molybdenum contracts

Bangalore - 3 March 2010

Eka Software Solutions, the leading provider of Commodity Trading and Risk Management (CTRM) software, announced support for the new Cobalt and Molybdenum contracts which commenced trading today on the London Metal Exchange (LME).

The LME, already the world’s premier non-ferrous metals exchange, now adds the world’s first exchange-traded forward minor metal contracts. Eka’s support for these contracts will allow its customers to engage in futures trading in these minor metals through the LME and link their hedges with their physical contracts.

“Eka already supports all the other established LME non-ferrous and steel contracts. The addition of cobalt and molybdenum is a natural extension of our functionality and in keeping with our commitment to support all LME traded contracts. These new minor metal contracts will bring price transparency and new techniques that enable our clients to manage price risk,” said Manav Garg, CEO and Founder, Eka Software Solutions. “We believe in constantly innovating and evolving our products to help our customers get the best visibility and control over their business.”

Eka’s metal trading and risk management solution is today widely acknowledged as the system of choice for the metals industry. The solution provides a single platform for managing operations across base metals, concentrates, ferro-alloys, steel, scrap and has been designed to meet the needs of different participants of the metals supply chain, including producers, processors, fabricators, recyclers, distributors, and trading companies. It covers the entire lifecycle of both physical and financial contracts that combines front, middle and back office functionality into a powerful, feature-rich system.

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