Triple Point Technology, the leading global provider of cloud and on-premise Commodity Management software, announced today that Koch Supply & Trading Sarl has licensed Triple Point’s flagship software solution, Commodity XL™, for its natural gas trading, risk and scheduling activities in Europe.
Koch Supply & Trading Sarl is an indirect subsidiary of Koch Industries, Inc., which owns companies with about 67,000 employees and a presence in 60 countries.
Koch Supply & Trading required an advanced software platform to support complex physical and financial requirements of its natural gas business. After a rigorous evaluation, Koch Supply & Trading Sarl selected Commodity XL because it was the solution most capable of fulfilling the requirements of the company’s European natural gas business while providing comprehensive multi-commodity functionality.
“We considered several commodity management systems, ultimately selecting Commodity XL as the best choice for Koch Supply & Trading’s needs,” said Rob Short, CIO. “Commodity XL is a comprehensive multi-commodity platform backed by Triple Point’s very strong team. After analysis we are most confident that we can be successful with Commodity XL.”
Seventy percent of the world’s top trading organizations rely on Triple Point solutions to effectively manage commodities and enterprise risk. According to Reuters, the top commodity traders are Vitol Group, Glencore International AG, Cargill Inc., Koch Industries, ADM, Gunvor International, Trafigura, Mercuria, Noble Group and Louis Dreyfus.
“Commodity XL is the Commodity Management solution of choice among trading companies seeking a sophisticated, comprehensive solution for managing price volatility and market complexity,” said Wah Chu, chief customer officer, Triple Point. “We’re honored to add a customer of Koch Supply & Trading Sarl’s stature to our growing client base.”
Commodity XL is the only commodity trading and risk management solution that works across multiple commodities in real-time from the front- through to the back-office. It empowers companies to achieve balance between profitable trading, marketing, scheduling, logistics, risk management policies and accounting regulations in today’s volatile and complex environment.