OpenLink, the global leader in trading, treasury and risk management solutions for the energy, commodities, corporate and financial services industries, has won the Energy Risk Asia Awards for both the ‘ETRM and CTRM Software House of the Year’ categories for its dedication to all Asian market participants from startup trading ventures to large companies.
OpenLink is well known for its ability to support tier one global firms with sophisticated, tailored solutions. However, this year Energy Risk recognized OpenLink for also supporting the region’s burgeoning ranks of smaller trading companies, building a new product offering bespoke to APAC to do so. OpenLink’s pre-packaged, industry best practice solution caters to the key components of a trading organization and is now capable of meeting the majority of required functionality off the shelf.
“A wave of new firms, from pure startups funded with venture capital to subsidiaries of large parent companies, has created demand for commodity trading and risk management software that can deal with the increasingly complex Asian markets,” commented Greg Moyle, Head of Sales for OpenLink Asia-Pacific. “Competition is increasing, and opportunity is ripe. Having the right CTRM system can give a much-needed advantage,” he said. “The markets are becoming more complex, and operating on spreadsheets is not really an option for even the smallest of players now,” he added.
Against the backdrop of liberalization in Japan and increased reliance on LNG, OpenLink landed the largest ETRM software deal in Asia in the last 12 months, a large Japanese trader with over one hundred users across offices in Tokyo and Singapore. OpenLink was chosen to streamline a complex trading environment, replacing legacy systems, spreadsheets and bolt-ons, combining physical and accounting data into the trading and risk management function and providing greater operational oversight and real-time information.
OpenLink was also highlighted for its LNG trading functionality, an attraction for energy firms in Asia, as very few systems can handle the physical complexities of LNG effectively. The full LNG supply chain is more complex than most other commodities as firms need to be able to handle liquefaction, transporting and regasification processes, as well as manage supply contracts, pricing and cost.
OpenLink’s APAC team is now over 100-strong, with staff based in Singapore, Australia, Malaysia, and India, including engagement directors that oversee projects from sales execution through to golive and beyond. “These are very experienced implementation specialists with industry experience, and they ensure continuity and local dedication across the entire project,” said Moyle. “It’s a unique structure for an E/CTRM vendor.”
The Energy Risk Asia Awards recognize excellence across the Asian commodity and energy markets, with a particular focus on client service. The awards are run by Energy Risk, the leading global title on commodity trading and risk management, which is now in its 22nd year. Entries for the awards are judged by Energy Risk's experienced editorial staff.