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The life cycle of a physical commodity transaction carries all manner of risk with it, and needs to be
CTRM system vendor questionnaire results 40 overseen and managed from its initial execution through to its final settlement. Commodity trading and
risk management (CTRM) systems have been at the forefront of front- and middle-office desks. They
assist and enable market participants to follow up and hedge against market price movements, monitor
their credit risks and obtain an overall view of the numerous other factors that affect their trading
portfolio. The choice of CTRM system should be an informed and practical one.
This brochure includes a section containing answers provided by CTRM system vendors to our questions
about their company profile and their products functional capabilities, as well as their technical aspects.
Its purpose is to provide an objective overview of vendor capabilities, coverage (both functional and
asset), integration and deployment.
The vendor information contained in this brochure is sourced directly from respondents who agreed to
participate in the questionnaire prepared by EYs CTRM team. The brochure also includes our
observations on the current CTRM system landscape and trends, our suggested approach to CTRM
system selection and an overview of some of the CTRM-related services that EY can provide.
We hope that this brochure will give you a clear picture of the CTRM system landscape and the relevant
challenges that your organization may be faced with when selecting and implementing a new CTRM
system.
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CTRM system
landscape The benefits of using CTRM systems
and trends
Commodity trading firms have experienced significant CTRM system providers are offering a large range of
changes over recent years. Increased volatility in different types of solution. Although it would be difficult
commodity prices, extended regulatory and compliance to summarize the whole supply side of CTRM systems,
measures and stunted economic growth have put we do observe different categories, each of which is
additional pressure on firms to gain a better mastery of trying to appeal to the needs and goals of an even more
their inherent risks, while maintaining acceptable levels diverse base of prospective buyers. From an operational
of financial performance. These pressures have more point of view, we can broadly put them into three
than often translated into a quest for cost and volatility categories:
reductions that are reliant on efficient technological
solutions. Off-the-shelf solutions that respond to targeted
functional requirements and need minimal configuration,
Commodity traders and risk managers have been using but can sometimes have limited extension possibilities
CTRM systems in their daily workflow, as they provide Extendable solutions that have certain off-the-shelf
them with the basic capabilities to: properties, yet allow the user to build on the data
model and functionalities, sometimes through a
Execute and track their actions and transactions product-specific coding language
Measure the risks they have taken (and help them Base framework solutions that are deemed to provide
decide on what to do next) the essential technological structure for the creation
Account and report on where they stand with whom of a customized solution
Provide some form of monitoring dashboard for their
senior management There are clearly overlaps between these categories
among many vendors, and potential customers will seek
In the emergence of a more digitalized age, and with out whichever one best meets their overall requirements.
easier access to technology overall, a wide variety of
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57%
In addition to this, newer and smaller CTRM system Overall, the landscape of CTRM systems has become both
vendors have appeared on the market over the last more competitive, and more complete. As traditional
decade, offering a variety of solutions that are more vendors are faced with the challenges of expanding their
accessible to medium-sized and small companies. These coverage and deployment methods, new (and often niche)
solutions, which are for the most part hosted (implying vendors are filling the market gaps created by smaller
reduced setup costs), aim to meet the needs of smaller buyers that are increasingly trading in their spreadsheets
firms faced with similar challenges to those of their larger for more efficient screen solutions.
equivalents. of surveyed vendors reported capabilities on
graphical configuration of workflows.
It is also worth noting that more traditional industrial and
manufacturing companies, whose primary focus is not on
57%
commodity trading, are now becoming potential buyers The need to balance initial
of CTRM systems, particularly those that have set up
centralized trading and risk management entities (often investment against a value
called margin management functions).
proposition for CTRM has
As the overlaps between supply and demand in the CTRM
system space extend, we have noticed a few trends when become ever more acute due
it comes to recent market and regulatory developments:
to cyclical demand pressure of surveyed vendors reported capabilities on
A focus on efficiency and system performance be it
for executing transactions, computing results or reporting and recent volatility in global European Market Infrastructure Regulation
(EMIR) coverage for European markets.
A more blurred line between financial and physical
trading which implies price-cost optimization (under markets. Clients are looking
79%
physical constraints), multiple modes of transport and a
tendency to have access to some form of geospatial for pragmatic risk
visualization
Newly generated needs for automated workflows management solutions with
and embedding of controls into the CTRM system,
versus offline spreadsheet-based controls an option to enhance as
Newly created regulatory compliance rules with
extended reporting requirements demand recovers.
of surveyed vendors reported logistics
capabilities on freight and transport.
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CTRM system
selection Key success factors for selecting and implementing a CTRM system
approach
Prior to any vendor system selection process, a firm should build a solid business case to support the decision to
procure or replace a CTRM system.
At EY, we believe that justifying the business case of CTRM system selection must be supported by the prospective
business growth related to the investment, meeting risk management and operational excellence standards, and
achieving the required regulatory compliance through a scalable or extendable solution.
The following are some of the key elements to take into account before launching the selection process.
Cost
Evaluate CTRM vendor packages to meet systems Maintenance
needs through a structured, thorough and independent Support
request for proposal (RFP) process Hardware
Establish RFP process governance and ensure that Implementation
the program structure and deliverables are clearly Integration
defined and monitored throughout execution
Value
Optimizing the cost-value dilemma Growth enabler
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Typical phases of a system selection process Typical vendor research and selection approach
Selecting and implementing a fit for purpose CTRM system is a significant undertaking. From EYs experience, there are Before arriving at a short list of vendors, it is important to take into account a number of considerations that will be
no two selection (or implementation) projects that are entirely comparable. Although client specifics will always drive the shaped by your requirements, budget and any specific limitations you may be facing. EY works with predefined templates,
selection process, we can provide an illustrative approach. allowing our customers to narrow down their selection to the most relevant solutions.
1.
Define requirements and architecture Vendor research
Agree on vision, functional scope and key non-functional requirements (NFRs) with major
stakeholders, including relative priority
Agree on key integration and technical expectations for the new system Based on your initial requirements, we recommend starting from a vendor list across multiple categories:
Integrated CTRM vendors greatest functionality for future, but at high cost of ownership
and time or risk of implementation
Specialist vendors dedicated functionality, but may limit long-term scope
CTRM Software-as-a-Service (SaaS) or cloud offering, providing a quicker initial rollout option
2.
Research and agree on vendors
Identify potential vendors matching defined requirements
(long-list approximately 8-10)
Evaluate long list against prioritized functional scope and key NFRs
Validate short list of approximately 4-5 vendors Vendor selection methodology and evaluation templates
Effective methodology and set of templates to narrow the vendor list down to the most relevant solutions:
3.
Conduct RFP and select vendor
Identify vendors with high-level capabilities that are relevant to your guidelines
Run RFP for short-listed vendors Evaluate in accordance with your strategic direction and overall fit
Agree on detailed evaluation criteria Assess analysis of potential vendors within a decision framework
Evaluate vendor pitches against evaluation criteria, including total anticipated cost of ownership Short-list for senior management or board approval and vendor presentations or proposals
Make final choice of vendor Recommend the preferred solution to the board
4.
Plan system implementation
Identify the risks and lessons learned related to CTRM system implementation
Set up a plan and time line for the implementation project across
technology and business
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How EY
can help EY CTRM teams at a glance
EYs commodity professionals are dedicated to servicing A group of commodity industry and financial market
commodity trading and risk management clients. We professionals
have the depth of industry and technology expertise to First-hand industry experience across a variety of
realize business visions through the incorporation of systems both as users and through system selection
technology initiatives, and specifically: and implementation
Deep expertise in IT infrastructure and system
capabilities
Independence from CTRM system providers
Global presence and network
Our services Design and facilitate the vendor selection process, including RFP support, system selection scoring, infrastructure costing and
vendor background due diligence
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CTRM technology strategy and assessment Quantitative advisory, regulatory and compliance
services
Our services Define business needs in terms of IT requirements and assess needs versus current system capabilities to identify improvement
opportunities and define an IT road map At EY, our commodities sector professionals can Business process analysis and internal controls
Design new, or assess current, CTRM and supporting systems infrastructure, and data management complement your technological requirements with a wide providing gap analysis and recommendations for
strategy, to determine improvement opportunities (includes benchmarking, oversight and validation to complement ongoing work) range of advisory services in the areas of trading and improving overall processes and controls
risk management, including: Compliance and regulation assisting you in creating
or enhancing tools and metrics required to respond to
Risk modeling assisting you in managing market, regulatory and compliance measures, and ensuring
Sample Developed a complete IT strategy for a refined oil products entity, dependent on the parent company for its IT systems and liquidity, funding, credit and operational risks that your governance and controls are up-to-date with
credentials infrastructure, so that the entity could operate its IT functions, including CTRM, independently Valuation developing customized pricing models your regulatory framework
commensurate with your companys activities and
risk profile, or reviewing existing models
[ ] [ ]
CTRM system implementation EY's commodities experience
Our services System implementation lead or support, including the definition of requirements, testing, deployment and project management
Data analytics, reporting and other trade support systems (e.g., pricing, logistics, actualization and accounting) or custom builds Insights on global and
Deep understanding of regional best practices from
commodity markets and leading organizations across
Sample Assisted with the design and implementation of a suite of risk management reports to support a clients new CTRM industry challenges multiple operating sectors
[ ] [ ]
credentials implementation and industries
[ ] [ ]
Our services Design efficient data strategy, architecture, tools and management processes to centralize and streamline the collection of trade,
pricing and valuation data across the organization
Enable real-time and on-the-go analytics to support automated or ad hoc reporting (for additional capabilities such as trade
surveillance and compliance reporting)
Experience of working
Knowledge and hands-on
with a number of different
experience working with
Sample Engaged by a power utility to design a consolidated profit and loss and position reporting platform, adaptable to the changing organizations that transact
leading trading and risk
credentials CTRM landscape across a variety of commodity
management applications
Engaged by an oil producer to develop business intelligence and data analytics strategy and design markets and products
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CTRM system
vendor profiles Please note that the information in this section has been way exhaustive and that they vary in size and scope
directly sourced by EY from the participating CTRM system (asset class and functional coverage), as well as
vendors between June and September 2015. This overview geographical coverage. Interested firms can use the
has been prepared and published to provide factual information provided, and their best judgment, to
information on the functional and technical aspects of the determine which vendor(s) would be most likely to meet
various solutions included in the questionnaire. Please be their needs within their budget.
advised that the list of participating system vendors is in no
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Agiboo B.V. Allegro Development
Founding date Headquarter Other representative offices (if applicable) Number of employees world- Founding date Headquarter Other representative offices (if applicable) Number of employees world-
location wide as of 31 March 2015 location wide as of 31 March 2015
Almere, 1984 Dallas (Americas) Houston (US), Calgary (Canada), London 261
2009 n/a 21
Netherlands Zurich (GmbH) (UK), Singapore, Dubai (UAE)
Ownership (private or public) Majority shareholder Annual revenue last year (2014) Ownership (private or public) Majority shareholder Annual revenue last year (2014)
Private investor and management - - Vector Capital, Cerium Technology Vector US$78.8m
c) General system and solution information c) General system and solution information
Which market development drives your Technology (mobile and app functionality) Which market development drives your Power gas and power utilities
platform development plan specifically Supply chain integration platform development plan specifically Oil and gas natural gas, crude oil, refined products and natural gas liquids (NGLs)
over the next 6 to 24 months? Commodity and derivatives legislation over the next 6 to 24 months?
Trends in trade finance
SaaS, MULTI TENANT, PAY as you GO
In your opinion, what are the main advan- Intuitive user interface In your opinion, what are the main advan- Allegros most compelling differentiator is the breadth of the solution we offer and its
tages that your software applications offer Multidevice deployment (web and cloud) tages that your software ability to integrate seamlessly with other systems.
compared with your competitors in the Configurability and modular setup applications offer compared with your com- Another key differentiator is our commitment to the customer. We are focused on the
same category? Service-oriented architecture petitors in the same category? customer experience and the value we add by helping reduce costs and create
Quick deployment and implementation efficiencies throughout the commodity life cycle and value chain. Allegro is
Low cost of ownership differentiated by our longevity in the market, with over 30 years of experience in the
E/CTRM space. Our flexible software architecture is a major component of our
Which client segment best represents the Tier-one commodity firms (300+ staff)
differentiation, allowing customers scalability for growth, and our team consists of
majority of your client base? x Middle-range commodity firms (30-300 staff)
some of the top experts in the business.
x Smaller-scale commodity firms
Which client segment best represents the x Tier-one commodity firms (300+ staff)
majority of your client base? Middle-range commodity firms (30-300 staff)
x
Smaller-scale commodity firms
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Amphora Inc. Aspect Enterprise Solutions Ltd.
Founding date Headquarter Other representative offices (if applicable) Number of employees world- Founding date Headquarter Other representative offices (if applicable) Number of employees world-
location wide as of 31 March 2015 location wide as of 31 March 2015
1997 Houston (US) Zug (Switzerland), Hyderabad (India) 110 2000 London, UK Houston (US), Moscow (Russia), Chely- 100+
abinsk (Russia), Singapore, New York (US)
Ownership (private or public) Majority shareholder Annual revenue last year (2014) Ownership (private or public) Majority shareholder Annual revenue last year (2014)
c) General system and solution information c) General system and solution information
Could you please provide a brief description Amphora, Inc., founded in 1997, is the premier software solution provider for Could you please provide a brief description Aspect is the leading global provider of multicommodity trade, risk and operations
of your company and your solutions? commodity trading, logistics and risk management in the global crude, refined, coal, of your company and your solutions? management solutions delivered SaaS in the cloud. With more than 487 customers in
ore, metals, petrochemical, agricultural and freight marketplace. Our team includes 86 countries, its one of the fastest-growing providers with rapid deployment,
some of the most experienced software designers, developers and business analysts affordable subscriptions and immediate ROI for all sizes of company, from the largest
in the commodities industry today. Since our inception, our main goal has been to trading organizations in the world to small and mid-size trading firms. Aspect CTRM
provide the trading community with the most robust, user-friendly, enterprise-wide supports front-, middle- and back-office financial and physical trade
software package available. Amphora continues to launch new products that address activity, available in three editions Lite, Standard and Enterprise expanding in
customers needs and adjust to dynamic market demands. functionality for the needs and budgets of clients. Its the only E/CTRM solution with
market data and analytics delivered with its trade and risk tools on the same platform.
Which market development drives your Customer-driven development.
platform development plan specifically Which market development drives your What drives our market development plan continues to be the markets need for an
over the next 6 to 24 months? platform development plan specifically affordable way to move away from spreadsheets, and gain the tools necessary to run
over the next 6 to 24 months? a professional trading operation. Market conditions continue to be price-conscious
In your opinion, what are the main advan- Single database; true end-to-end CTRM.
following the recession, and credit is tight from the banks, which require full visibility
tages that your software applications offer
through an automated system that reduces business risks. Aspect is able to scale up or
compared with your competitors in the
down to meet client feature and budget requirements in every country in the world,
same category?
because its cloud based and multiple offices can share data with front-, middle- and
Which client segment best represents the Tier-one commodity firms (300+ staff)
x back-office support for physical and financial trades.
majority of your client base? x Middle-range commodity firms (30-300 staff)
Smaller-scale commodity firms
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Brady PLC
In your opinion, what are the main advan- Our key differentiators, which no other provider has: no software and no hardware
Headquarter Number of employees world-
tages that your software applications offer SaaS in the cloud solution; AESthetics technology architecture and advanced scripting Founding date Other representative offices (if applicable)
location wide as of 31 March 2015
compared with your competitors in the tools allow users to configure their solution, rather than spend time and money on
same category? development; real-time profit and loss and positions reporting, and instant end of day, 1985 Cambridge (UK) London (UK), Halden (Norway), Oslo 240
month and year reports; powerful level 4 OLAP (online analytical processing) (Norway), Geneva (Switzerland), New
reporting capabilities for complete visibility; swift two-week deployments; market data York (US), Maumee (US), Edinburgh
and analytics on the same platform as E/CTRM for quick price uploads and pre-trade (Scotland), Paris (France), Singapore
analysis; fast processing speeds through in-memory database; affordable
subscriptions for all sizes of company due to no fees for hardware, software or IT b) General corporate information
maintenance.
Which client segment best represents the Tier-one commodity firms (300+ staff)
x
Ownership (private or public) Majority shareholder Annual revenue last year (2014)
majority of your client base? x Middle-range commodity firms (30-300 staff)
x Smaller-scale commodity firms Public Listed on AIM (London Stock Exchange) 31m
Section II Verbatim
Solutions
Fintrade:
Commodity trading and risk management system
Tailored for companies trading:
Physical goods
Raw materials producers and traders, including concentrates
Paper transactions
Hedging instruments
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Eka Software Solutions
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Generation 10 Ltd.
Section II Verbatim
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Invensoft Technologies Pvt. Ltd.
In your opinion, what are the main advan- Modern light technology with an agile architecture and an engaging, relevant, visual
c) General system and solution information
tages that your software applications offer user experience. It combines integrated commodities risk management (CRM),
compared with your competitors in the embedded analytics and an interactive dashboard. Comprehensive, robust Customer base (all products
Main solution name(s) Date of initial launch Date of latest version release Current version number
same category? functionality is managed through a flexible business process engine. included no. of companies)
Operational risk and adaptability to the day-to-day: G10 Commodity Manager has been INVENSOFT-XBS 28 December 2005 4 May 2015 7.0.3.2 Around 12 companies
developed forward from the perspective of the physical merchant through to back
office and accounting, providing strong comprehensive operational risk throughout
the business. This is in contrast to an accounting package retrofitted for the day-
Section II Verbatim
to-day work of a trading company.
The CM Connect module enables clients to connect with their preferred suppliers and
customers, granting them secure controlled access to items such as the clients EY questions Vendor answers
inventory, shipment and payment status.
Could you please provide a brief description Invensoft Technologies is a global IT company providing commodity management (CM)
Which client segment best represents the Tier-one commodity firms (300+ staff) of your company and your solutions? software solutions for agricultural commodities, metals, minerals and concentrates.
majority of your client base? x Middle-range commodity firms (30-300 staff) Founded in 2000, we are supporting our global customers in over nine commodity
Smaller-scale commodity firms origin countries.
Our solution Invensoft-XBS is a Unified Commodity Management Platform catering to
CM, CTRM and third-party logistics (3PL) covering Fully Automated End-to-End
features of commodity business.
CM and CTRM provide extensive features for commodity origin business, procurement,
quality management, processing, warehousing, certification, traceability, trading,
hedging, risk management, positions, exposures, daily P&L and reporting. 3PL
provides innovative features for commodity third-party warehousing and logistics
providers.
Which market development drives your Invensoft is focusing on Asia, Africa, South America and European markets.
platform development plan specifically over Marketing is through different channels:
the next 6 to 24 months?
Direct marketing by Invensoft: we have a sales and marketing team that focuses on
lead development through e-marketing, pre-sales and sales conversion.
Shows, events and advertisements: Invensoft participates in shows, events and
exhibitions, and releases regular advertisements in magazines and journals.
This activity generates leads and enquiries, which are handled by the sales team.
Global partners: Invensoft is working to develop a global partner network, which will
become the marketing and sales representation for Invensoft in different countries.
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Open Access Technology International, Inc. (OATI)
Section II Verbatim
Which market development drives your Industry trend to link wholesale to retail business needs:
platform development plan specifically over Regulatory compliance
the next 6 to 24 months? International market expansion
In your opinion, what are the main OATI is a leading provider of SaaS solutions and a single vendor provider of solutions
advantages that your software applications that cover both the financial and physical aspects of the trading business, providing
offer compared with your competitors in comprehensive front- and back-office functionality and minimizing the need for system
the same category? integration.
OATI systems do not incorporate software acquired from others but are organically
grown and supported primarily to serve the needs of the energy business.
Which client segment best represents the Tier-one commodity firms (300+ staff)
majority of your client base? Middle-range commodity firms (30-300 staff)
x
Smaller-scale commodity firms
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OpenLink
Which market development drives your Main market drivers (focus on energy and commodities):
platform development plan Regulatory compliance needs:
specifically over the next 6 to 24 months? Dodd-Frank, EMIR, REMIT, MiFID II
Trade surveillance (financial market like)
Lower margins in energy markets due to lower commodity prices
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Panton Inc.
Section II Verbatim
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Pioneer Solutions, LLC SunGard Energy Systems Inc.
Ownership (private or public) Majority shareholder Annual revenue last year (2014) Ownership (private or public) Majority shareholder Annual revenue last year (2014)
c) General system and solution information c) General system and solution information
TRMTracker 2003 Not specified 3.9.001 Not specified Aligne 1998 2015 Aligne 5 500
Could you please provide a brief description Pioneer Solutions offers next-generation ETRM, environmental and compliance MarketMap Energy 1982 2015 MarketMAP Energy 7
of your company and your solutions? solutions at a lower total cost. We offer a proven, flexible product with service tailored
to meet unique business needs. Our innovative approach to straight-through
processing (STP), from deal capture through to settlements of all commodities, ETRM, Section II Verbatim
environmental products management and compliance, allows us to deliver your
business how you want to view, manage and report on it without costly customization.
Our software is user configurable and template and formula based, so it can be easily EY questions Vendor answers
configured to meet business challenges, ensuring high-quality, on-time delivery. It
easily interfaces with other applications and data sources, simultaneously automating Could you please provide a brief description SunGard is one of the worlds leading software and technology services companies,
workflow across the front, middle and back offices. of your company and your solutions? with an annual revenue of about US$2.8b. Sitting at the intersection of technology and
finance, SunGard is focused on delivering fresh ideas and inventive solutions to help
Which market development drives your We are a growing company and, as such, we are always looking for opportunities to
our customers adapt and thrive in an ever-changing environment.
platform development plan specifically over enhance our product based on customers input, industry trends and regulations. Each
the next 6 to 24 months? release enhances the customer experience and functionality of the system itself. SunGard Energy & Commodities offers a multicommodity solution that includes
Customer input is one of our main drivers for our road map and future direction plans. trading, risk management, scheduling and operations, regulatory compliance,
It is our goal to address the needs of our clients, while improving our system, in order settlement, accounting and management information, as well as market data, treasury
to equip them and potential clients for the future of the industry. and finance.
In your opinion, what are the main advanta- Highly user configurable, template based and formula driven to make it exceptionally Through real-time data, connectivity and analysis, SunGard helps customers achieve
ges that your software applications offer malleable, flexible and scalable. Tailored to our clients specific needs and built to transparency and regulatory compliance, address end-to-end transaction and
compared with your competitors in the evolve alongside their organization for years to come. Also, by eliminating all-too- operational life cycles, and meet time-to-market needs with flexible deployment
same category? common, costly customization efforts and the slow, faulty implementation approach of options.
many of our competitors, Pioneers clients enjoy a lower total cost of ownership.
Which client segment best represents the Tier-one commodity firms (300+ staff)
x
majority of your client base? x Middle-range commodity firms (30-300 staff)
Smaller-scale commodity firms
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Trayport Contigo Ltd.
a) Company history
EY questions Vendor answers
Which market development drives your Short-term trading as one the most powerful market drivers, SunGard is Headquarter Number of employees world-
platform development plan specifically over developing solutions for continuous trading, including market bidding and algo- Founding date Other representative offices (if applicable)
location wide as of 31 March 2015
the next 6 to 24 months? trading, real-time positioning and asset management, real-time market interfacing
1992 London (UK) Birmingham (UK), New York (US), 214
and integration of customer-specific logic in the trading process.
Singapore
Strong renewable production SunGard is strengthening its capabilities in the field
of renewable forecast and has industry-leading energy data management b) General corporate information
capabilities.
Reduction of total cost of ownership for ETRM systems SunGard supports this with Ownership (private or public) Majority shareholder Annual revenue last year (2014)
its cloud offering, leveraging HTML5 technology. SunGards long-term strategy is to
transfer all products to the new technology to achieve an ergonomic, intuitive user Private Trayport Ltd. is a wholly owned subsidiary 46.3m
experience. of BGC. Trayport Contigo Ltd. is a wholly
owned subsidiary of Trayport Ltd.
In your opinion, what are the main advanta- Modern, adaptable technology - HTML5 allows us to create an intuitive user
ges that your software applications offer experience that expands beyond the desktop and on to mobile devices (tables,
compared with your competitors in the smartphones, etc.). In addition, some solutions are available in an SaaS c) General system and solution information
same category? environment with fully integrated market data.
Footprint - the recent acquisition of XDM provides coverage not only to standard Customer base (all products
Main solution name(s) Date of initial launch Date of latest version release Current version number
front-to-back functionalities, but also energy data management, forecasting and included no. of companies)
optimization.
enTrader Dec 2009 April 2015 v4.0 16
Real-time data - functionality and ability to work with very large data sets creates a
competitive advantage. enVoy April 2008 March 2015 v1.3.2 4
Quick response to market challenges - short-term trading is the most important enPrice March 2011 June 2015 v3.1.4.1 2
market trend in European power markets. SunGard was early to provide
functionality to support continuous trading.
Which client segment best represents the Tier-one commodity firms (300+ staff)
x Section II Verbatim
majority of your client base? x Middle-range commodity firms (30-300 staff)
x Smaller-scale commodity firms
EY questions Vendor answers
Could you please provide a brief description Build and market software platforms that enable trading for cleared and OTC markets,
of your company and your solutions? mostly in energy commodities; build and market software platforms that enable the
management of trading and risk processes from front to back office, straight-through
processed from execution platforms.
Which market development drives your Strong growth anticipated in central Europe, UK and Nordic regions.
platform development plan specifically over Predominately in financial and physical Power and Gas markets.
the next 6 to 24 months? Sectors include Generation, Wholesale, Retail, industrial, Commercial and SME.
In your opinion, what are the main Built specifically for European energy and serves all commodity markets
advantages that your software applications True out-of-the-box instruments no setup
offer compared with your competitors in the Modern application architecture
same category? Rapid deployment
Cost-effective solutions for smaller market participants while fully featured for
tier-one clients
Chosen over all other ETRM vendors in head-to-head competitive tenders
Full trade life cycle management for all parts of the value chain
Scalable and extensible
Native integration with Trayport Trading Gateway
Full straight-through processing from execution to dispatch
The most appropriate solution for all energy commodity trading
Which client segment best represents the Tier-one commodity firms (300+ staff)
x
majority of your client base? x Middle-range commodity firms (30-300 staff)
Smaller-scale commodity firms
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The following section contains specific product functionality
CTRM system
questions prepared by EYs CTRM Teams and the relevant
vendor answers. It allows the reader to verify areas of capability
and asset class coverage quickly for the vendor solutions
included.
vendor
questionnaire
results
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Section III Product features Answer is applicable if cell is marked in yellow. * Please note that unless otherwise stated, the answers provided or ticked would be covered by one or more of the multiple products listed below.
Name of product (company) Agiblocks Allegro 8 Symphony Aspect DSC Fintrade Trinity Brady Energy InSight CM Name of product (company) G10 Commodity INVENSOFT-XBS webTrader *Endur, Marketing, supply TRMTracker *Aligne, EnTrader
(Agiboo) (Allegro (Amphora) (Aspect (Brady) (Brady) (Brady) (Eka) Manager (Invensoft Enterprise RightAngle, IRM, and invoicing (Pioneer) XDM, Kiodex, (Trayport Contigo)
Development) Enterprise (Generation 10) Technologies) (OATI) CubeIntelligence, scheduling MarketMap
Solutions) DBCSMARTsoft platform Energy
(OpenLink) (Panton) (SunGard)
Please select the asset classes Crude oil Please select the asset Crude oil
for which this product is classes for which this product
Refined oil products Refined oil products
relevant is relevant
settlement settlement
Gas (natural gas, LNG, Gas (natural gas, LNG,
LPG) LPG)
Coal Coal
Power Power
Emissions Emissions
Agricultural grains Agricultural grains
and oilseeds, softs and oilseeds, softs
and dairy and dairy
Base metals Base metals
Precious metals Precious metals
Freight Freight
Other please specify Species and nuts Sand, water Concentrates Concentrates and Other please specify RECs NGL RECs FX
and fracking iron ore
chemicals
For which asset class (from Agricultural: Gas Oil, products, Crude, products, Base metals and Base and Power, gas Agriculture, For which asset class (from Agricultural: Agricultural - Power, gas, RECs Endur: cross Natural gas, Power, gas, oil, Power, gas, Power, gas and
the above) is this product grains, oilseeds, freight, metals, LPG (LNG under agricultural, precious metals, metals and the above) is this product grains, oilseed, softs, metals, and emissions commodity natural gas liquids emissions and emissions and emissions
most advanced? softs and dairy coal and development), cotton, plastics, agricultural and energy most advanced? cotton, coffee, minerals and (NGLs), crude and RECs coal
RightAngle:
emissions base and precious chemicals, concentrates cocoa, sugar, concentrates light products
liquid and bulk
metals concentrates and rubber and cattle commodities
fertilizers
IRM: power,
natural gas,
emissions and
financial bulk
commodities
Have you already Africa Have you already Africa
implemented your product in implemented your product in
Asia Asia
these locations? these locations?
Australia and Oceania Australia and Oceania
Central and South Central and South
America America
Continental Europe Continental Europe
(excluding Nordics) (excluding Nordics)
UKI UKI
Nordics Nordics
North America North America
Does the product offer Financial trade capture Does the product offer Financial trade capture
capabilities for the following (OTC or exchange) capabilities for the following (OTC or exchange)
processes and functionalities processes and functionalities
Physical trade capture Physical trade capture
inherent to front-office inherent to front-office
(OTC or exchange) (OTC or exchange)
activities (and its supporting activities (and its supporting
operations)? Exchange trade operations)? Exchange trade
execution execution
Contract management Contract management
Hedging execution Hedging execution
Deal structuring Deal structuring
Deal validation or Deal validation or
confirmation confirmation
Asset portfolio Asset portfolio
optimization optimization
Curves management Curves management
Does the product offer Mark-to-market Does the product offer Mark-to-market
capabilities for the following valuation capabilities for the following valuation
processes and functionalities processes and functionalities
P&L computation P&L computation
inherent to middle-office and inherent to middle-office and
risk management tasks? Standard exposure risk management tasks? Standard exposure
management (Greeks) management (Greeks)
Complex exposure Complex exposure
management (VaR or management (VaR or
correlation) correlation)
Trade control limit Trade control limit
management management
Pricing models for Pricing models for
standard products or standard products or
options options
Pricing models for Pricing models for
complex options (swing complex options (swing
options) options)
Pricing models for Pricing models for
physical assets (i.e., gas physical assets (i.e., gas
storage) storage)
Pricing models for Pricing models for
complex physical complex physical
contracts contracts
FX exposure calculation FX exposure calculation
Basic credit risk Basic credit risk
management management
(counterparty exposure, (counterparty exposure,
etc.) etc.)
Advanced credit risk Advanced credit risk
(i.e., expected exposure (i.e., expected exposure
and CVA or DVA) and CVA or DVA)
Operational risk Operational risk
management management
Stress testing and Stress testing and
what if scenario or what if scenario or
optimization optimization
Big data analytic Big data analytic
Collateral and margin Collateral and margin
management management
Other please specify Position Delegation of Other please specify
management, authorities and
FX hedging and limit management
hedge allocation
42 Commodity Trading and Risk Management Systems Overview | 2016 edition Commodity Trading and Risk Management Systems Overview | 2016 edition 43
Section III Product features Answer is applicable if cell is marked in yellow. * Please note that unless otherwise stated, the answers provided or ticked would be covered by one or more of the multiple products listed below.
Name of product (company) Agiblocks Allegro 8 Symphony Aspect DSC Fintrade Trinity Brady Energy InSight CM Name of product (company) G10 Commodity INVENSOFT-XBS webTrader *Endur, Marketing, supply TRMTracker *Aligne, EnTrader
(Agiboo) (Allegro (Amphora) (Aspect (Brady) (Brady) (Brady) (Eka) Manager (Invensoft Enterprise RightAngle, IRM, and invoicing (Pioneer) XDM, Kiodex, (Trayport Contigo)
Development) Enterprise (Generation 10) Technologies) (OATI) CubeIntelligence, scheduling MarketMap
Solutions) DBCSMARTsoft platform Energy
(OpenLink) (Panton) (SunGard)
Does the product cover the Scheduling Does the product cover the Scheduling
following processes and following processes and
Storage and inventory Storage and inventory
functionalities in terms of functionalities in terms of
management management
logistics management? logistics management?
Freight and transport Freight and transport
Balancing (optimization Balancing (optimization
under constraints)* under constraints)*
Nomination* Nomination*
Cross-border capacity Cross-border capacity
management* management*
Other please specify Transmission Other please specify Weight and quality C
omprehensive
or transport management, two-directional
management, sample traceability
processing, management and
fractionation, assays
liquefaction and
*For gas, power and oil markets *For gas, power and oil markets
regasification
Does the product offer Settlement preparation Does the product offer Settlement preparation
capabilities for the following (netting, statements, capabilities for the following (netting, statements,
processes and functionalities etc.) processes and functionalities etc.)
inherent to accounting and inherent to accounting and
Counterparty Counterparty
back-office activities? back-office activities?
settlement settlement
Confirmations Confirmations
Reconciliation Reconciliation
SWIFT messaging SWIFT messaging
Currency and price Currency and price
management management
Hedge accounting Hedge accounting
Invoicing Invoicing
Accounts receivable Accounts receivable
and accounts payable and accounts payable
Documentation Documentation
management management
Claim management Claim management
Month-end close Month-end close
Other please specify Audit trail and Inventory Exchange Other please specify Actual vs.
document accounting, settlement budget analysis
template netback and accrual
management calculation management
and revenue
distribution
Does the product offer Treasury management Does the product offer Treasury management
capabilities for the following capabilities for the following
Tax regulation Tax regulation
processes and functionalities processes and functionalities
inherent to regulatory, FERC rules and inherent to regulatory, FERC rules and
compliance and governance? reporting compliance and governance? reporting
Dodd-Frank compliance Dodd-Frank compliance
reporting reporting
EMIR position reporting EMIR position reporting
and clearing and clearing
REMIT compliance REMIT compliance
reporting reporting
CFTC position limits CFTC position limits
Repository reporting Repository reporting
MiFID regulation MiFID regulation
management and management and
reporting reporting
Other please specify Customer- Customer- Other please specify Compliance ready
built reporting built reporting but not (as yet)
activities. Brady activities. Brady required by client
can provide can provide base
assistance for assistance for
reports. reports.
Please specify with which ICE Futures (UK, US and Please specify with which ICE Futures (UK, US and
} }
exchanges and market data Canada) exchanges and market data Canada)
providers you have already providers you have already
CBOT CBOT
implemented an interface with implemented an interface with
this product? KCB this product? KCB
CME Group CME Group
Nymex Nymex
Comex Comex
LME LME
Euronext (excluding Euronext (excluding
MATIF and LIFFE) MATIF and LIFFE)
Other please specify DTN, Reuters and SGX, FastMarkets, F
astMarkets, Prices: Other please specify We dont have TT Bloomberg GlobalView and Trayport, EEX, Trayport Trading
Bloomberg LIM, Reuters and LIM, Reuters and Montel specific market (market BTC ZEMA EPEX, Nord Pool Gateway APX;
Bloomberg Bloomberg Reuters data interfaces; gateway), and Griffin others available
Trayport they are Trayport, SWIFT via the Trayport
CASC Border developed based messaging, interface
Prices on client-specific Thomson Reuters
Exchanges: needs. (market data),
APX-Endex FIX, 360T and
ICE eCMS
EEX
IDEX
ARGUS FTP
Belpex
Borsa Italiana
What are the usual enterprise General ledger What are the usual enterprise General ledger
applications with which the application (e.g., SAP applications with which the application (e.g., SAP
product is interfaced? or Oracle) product is interfaced? or Oracle)
Reporting engine (i.e., Reporting engine (i.e.,
BusinessObjects or BusinessObjects or
Crystal Report) Crystal Report)
Other please specify Agiblocks has Analytics tools Market data DMA platforms for A
PI can interface Other please specify Interface with Legacy
an embedded and Tableau applications trade execution with any Microsoft applications and
reporting engine (e.g., PVM and application. Dynamics, AX bespoke in-house
that would make GlobalView) applications
a third-party
reporting tool
redundant.
44 Commodity Trading and Risk Management Systems Overview | 2016 edition Commodity Trading and Risk Management Systems Overview | 2016 edition 45
Section III Product features Answer is applicable if cell is marked in yellow. * Please note that unless otherwise stated, the answers provided or ticked would be covered by one or more of the multiple products listed below.
Name of product (company) Agiblocks Allegro 8 Symphony Aspect DSC Fintrade Trinity Brady Energy InSight CM Name of product (company) G10 Commodity INVENSOFT-XBS webTrader *Endur, Marketing, supply TRMTracker *Aligne, EnTrader
(Agiboo) (Allegro (Amphora) (Aspect (Brady) (Brady) (Brady) (Eka) Manager (Invensoft Enterprise RightAngle, IRM, and invoicing (Pioneer) XDM, Kiodex, (Trayport Contigo)
Development) Enterprise (Generation 10) Technologies) (OATI) CubeIntelligence, scheduling MarketMap
Solutions) DBCSMARTsoft platform Energy
(OpenLink) (Panton) (SunGard)
With which frequency does Live - real time With which frequency does Live - real time
the product offer connectivity the product offer connectivity
Delayed (via batches, Delayed (via batches,
to a market data feed? to a market data feed?
etc.) etc.)
On demand (user On demand (user
initiated) initiated)
End of day End of day
Other please specify Other please specify Any specific
interface
If the product offers trading Live as soon as the If the product offers trading Live as soon as the
capabilities, with which trade is matched or capabilities, with which trade is matched or
frequency does trade executed frequency does trade executed
execution and confirmation execution and confirmation
Delayed (via batches, Delayed (via batches,
occur? occur?
etc.) etc.)
On demand (user On demand (user
initiated) initiated)
End of day End of day
Not applicable Not applicable
Other please specify Connectivity is Other please specify
provided via LME
Select and banks
proprietary OMS
systems.
If the product offers reporting Live as soon as the If the product offers reporting Live as soon as the
capabilities, with which trade is matched or capabilities, with which trade is matched or
frequency do the relevant executed frequency do the relevant executed
calculations (that depend on calculations (that depend on
Delayed (via batches, Delayed (via batches,
external prices) occur? external prices) occur?
etc.) etc.)
On demand (user On demand (user
initiated) initiated)
End of day End of day
Other please specify Other please specify
What deployment method Deployed installation What deployment method Deployed installation
does the product support? (local servers) does the product support? (local servers)
Hosted cloud Hosted cloud
application application
Other please specify Client-controlled Other please specify Hybrid (on
SaaS within premise or
customer firewall hosted)
46 Commodity Trading and Risk Management Systems Overview | 2016 edition Commodity Trading and Risk Management Systems Overview | 2016 edition 47
Section IV Fee model Answer is applicable if cell is marked in yellow. * Please note that unless otherwise stated, the answers provided or ticked would be covered by one or more of the multiple products listed below.
Name of product (company) Agiblocks Allegro 8 Symphony Aspect DSC Finetrade Trinity Brady Energy InSight CM Name of product (company) G10 Commodity INVENSOFT-XBS webTrader *Endur, Marketing, supply TRMTracker *Aligne, EnTrader
(Agiboo) (Allegro (Amphora) (Aspect (Brady) (Brady) (Brady) (Eka) Manager (Invensoft Enterprise RightAngle, IRM, and invoicing (Pioneer) XDM, Kiodex, (Trayport
Development) Enterprise (Generation 10) Technologies) (OATI) CubeIntelligence, scheduling MarketMap Contigo)
Solutions) DBCSMARTsoft platform Energy
(OpenLink) (Panton) (SunGard)
Please indicate which license Perpetual license (one- Please indicate which license Perpetual license (one-
fee model applies to the time fee) fee model applies to the time fee)
product. product.
License rental (yearly License rental (yearly
or monthly recurring) or monthly recurring)
Company-wide license Company-wide license
fees (multiple sites) fees (multiple sites)
License fees on a site- License fees on a site-
by-site basis by-site basis
Other please specify Other please specify
Please indicate which user fee License fees required Please indicate which user fee License fees required
model applies to the product. for named users model applies to the product. for named users
License fees available License fees available
for concurrent users for concurrent users
Other please specify Some Other please specify
functionality
is licensed by
functionality
only (non-user
dependent).
Which implementation model Implementation carried Which implementation model Implementation carried
does the company most out exclusively by the does the company most out exclusively by the
frequently apply? vendor only frequently apply? vendor only
Implementation Implementation
outsourced externally outsourced externally
(i.e., SI) (i.e., SI)
Implementation carried Implementation carried
out by the client out by the client
A combination of all of A combination of all of
the above the above
Other please specify Implementation Other please specify System
is done either by integrator-based
the vendor or by implementation
certified partners is possible -
of the vendor. Invensoft is
moving toward
this model with
partners.
In terms of implementation, Implementation In terms of implementation, Implementation
which statement best completed off-site and which statement best completed off-site and
describes the majority of configured package describes the majority of configured package
those undertaken for this installed to the client those undertaken for this installed to the client
product? product?
Product installed or Product installed or
implemented on-site implemented on-site
Other please specify We support Most of the We use a Other please specify We use a We use a
classic and hosted implementation combination of combination of combination of
environments is done off-site, the two, with a the two. the two.
and offer hosting but initial design majority of which
services. UAT, etc., is done are cloud based.
on-site.
Please indicate a link to a www.agiboo.com/ www.allegrodev. www.amphorainc. www.aspectenter www.bradyplc.com www.bradyplc. www.bradyplc. www.ekaplus. Please indicate a link to a www. www.invensoft. www.oati.com www.openlink. www.pantoninc. www.sungard.com www.contigo.
relevant product website, wp-content/up- com com prise.com/ com/media/k2/ com/media/k2/ com/smart- relevant product website, generation10.net co.in/Products. com com/data- co.uk/products/
brochure, description or loads/2015/05/ resources/ attachments/ attachments/ commodity- brochure, description or asp process/ entrader
demo. Agiblocks_Prod- Please contact brochures/ brady_metals__ Solutions_ management- demo. www.contigo.
m.hinton@
uctsheets_Online. All information mining.pdf for_Physical_ solutions.aspx co.uk/products/
pdf allegrodev.com to on products and www.bradyplc. Commodity_ enVoy
arrange a services on: www. com/media/k2/ Trading_and_Risk_
www.agiboo.com/ demonstration of Management.pdf www.contigo.
aspectenterprise. attachments/ co.uk/products/
media/videos/ Allegro 8. com Commodity_ www.bradyplc. enPrice
Trading_and_Risk. com/media/k2/
pdf attachments/
Cloud_Services.
pdf
On a scale with the rest of Higher range (for large- On a scale with the rest of Higher range (for large-
the market, and to your best scale deployments) the market, and to your best scale deployments)
knowledge, which cost range knowledge, which cost range
Medium range (limited Medium range (limited
would best describe this would best describe this
site or department site or department
product license? product license?
deployments) deployments)
Lower range (smaller Lower range (smaller
desk or department desk or department
deployments) deployments)
Please indicate which of the Telephone support Please indicate which of the Telephone support
following additional services following additional services
are included in your license (at Online support JIRA and WIKI are included in your license (at Online support
no additional cost). (messenger, mail, etc.) no additional cost). (messenger, mail, etc.)
On-site training On-site training
Virtual training Virtual training
48 Commodity Trading and Risk Management Systems Overview | 2016 edition Commodity Trading and Risk Management Systems Overview | 2016 edition 49
Section V Technical aspects * Please note that unless otherwise stated, the answers provided or ticked would be covered by one or more of the multiple products listed below.
Does the user interface run in a web browser, thin or thick Which programming languages does Which of the following options are available for the product Can the standard solution be extended? Please indicate, in terms of time frame, how long the typical product upgrade cycle Who usually performs
client application? the product support? and its workflows? If so, please indicate whether the client can intervene in its own development would take? these upgrades
1 - Programmable automated processes (or must it go through the vendor)? (vendor, client or can be
2 - Graphical configuration of workflows either)?
3 - Straight-through processing
4 - Calendar management
5 - Security settings (control of viewer or editor rights within
roles, geographies and departments)
Agiblocks Agiblocks runs in any web browser on any device. C# and .NET 1, 3, 5 Agiblocks offers a number of non-standard extentions. < 24 hours Vendor
(Agiboo) Non-Agiboo extensions can easily be connected through web services.
Allegro 8 Allegro is implemented as a thin (aka smart) client that Customer add-on code (Class 1, 2, 3, 4, 5 Yes - collaborative, where clients can intervene in development. The database Six months (this is based on number of Can be either
(Allegro Development) updates from the customers Allegro app server, combining Events) are implemented in scheme and many components of the UI are stored in the database and can be commodities and business processes supported)
the ease of update of a web client with the responsiveness Microsofts C#. The use of changed or extended during implementation. The ability to alter the UI adding data
and rich user interface (UI) of a fat client. T-SQL or PL-SQL (depending on capture, calculated columns, etc., combined with Allegros Class Event architecture,
your database platform) is also which allows client-customized custom code to be inserted into the application,
supported. opens up the ability for clients to customize the app in advanced ways.
Symphony Thin client .NET and Java 1, 2, 3, 4, 5 Customizable dashboard reporting and extendable fields Quarterly minor releases; annual major release Can be either
(Amphora)
Aspect DSC AspectCTRM and AspectDSC are both web browser only The product has its own scripting 1, 3, 4, 5 The Aspect standard solution can be extended in two ways: As Aspect provides SaaS, the upgrades happen during weekend maintenance work Can be either
(Aspect Enterprise Solutions) clients with full graphical user interface functionality like any language but is developed using and are provided to customers at no additional cost.
application. HTML and Java. 1. Through scripting framework that exposes most of the core functionality so that
Aspect or a client can extend and customize the solution Customer-specific functionality (customizations) usually takes anywhere between
one to six months depending on the complexity, risk and impact of the change.
2. Development via Aspect as a product feature that will form part of Aspects
product road map or paid for by the customer
Fintrade The system is a Windows application, delivered as a rich C#, C++ (Visual Studio) and HTML5 2, 3, 4, 5 Additional modules may be purchased and existing views modified or configured by Three upgrades are issued each year. Clients must remain at the current version -1 Can be either
(Brady) client application. For cloud deployments, we use remote the user. Depending on the users experience levels, this can be done either by the to remain within the terms of the standard service level agreement (SLA).
desktop. Installation on a PC can be made from a central user or with assistance from the vendor.
deployment point with no administration rights being
required. Scalability is mainly done on the database level; therefore, we can use any
functionality provided by the database.
In general, customers are responsible for business requirements, and Brady takes
over functional and technical specifications. Brady can also assist with business
requirements gathering phases.
Trinity The system is a Windows application, delivered as a rich C#, VB.NET, HTML5 andVB6 1, 3, 4, 5 Additional modules may be purchased and existing views modified or configured by Three upgrades are issued each year. Clients must remain at the current version -1 Can be either
(Brady) client application. For cloud deployments, we use remote the user. Depending on the users experience levels, this can be done either by the to remain within the terms of the standard SLA.
desktop. Installation on a PC can be made from a central user or with assistance from the vendor.
deployment point with no administration rights being
required. Some screens within the system are browser Customers are provided with a database schema for their own objects, over which
based. they have full control; the system has APIs that external applications can use to add
or retrieve data, or execute functions, and a number of parts of the system allow
for customer or third-party built plugins (e.g., Trade Export Service).
Brady Energy The core system is a Windows application, delivered as An API is provided that is adaptable 1, 3, 4, 5 Additional modules may be purchased and existing views modified or configured by Three upgrades are issued each year. Clients must remain at the current version -1 Can be either
(Brady) a rich client application. For cloud deployments, we use to almost any programming the user. Change requests can be added to the core release, or an extension can be to remain within the terms of the standard SLA.
remote desktop. Installation on a PC can be made from a language. The majority of clients carried out by the clients based on our data warehouse reporting functionality.
central deployment point with no administration rights being choose Microsoft .NET, and some
required. Reporting and several add-on modules (EMIR or choose Java. Complex development extensions are carried out by Brady PLC.
REMIT, Sales Manager, Clearing Report Viewer) are all web-
based applications.
InSight CM Both InSight CM and Commodity Analytics Cloud are Java or J2EE and .NET 1, 3, 5 Solutions can be extended only through Eka. Two to three months Vendor
(Eka) available as a browser-based application.
G10 Commodity Manager Web browser PHP, Javascript and HTML5 1, 2, 3, 4, 5 Yes. The client can extend much functionality through the front-end and, Hour(s) Can be either
(Generation 10) theoretically, can extend the code.
INVENSOFT-XBS Web browser and thin client works on desktop, laptop and Microsoft .Net, C# and Oracle 3, 5 Yes, the standard solution can be extended. Invensoft releases version upgrades to products twice in a year. Can be either
(Invensoft Technologies) tablets (Apple iPad, Android and Windows). Database For now, the client must go through Invensoft.
However, based on case-to-case, client-specific needs can be addressed.
webTrader Enterprise Thin-client application HTML, Java, C++ and C# 1, 3, 4, 5 Yes. All product extensions must go through the vendor. Once a year Vendor
(OATI)
*Endur, RightAngle, Thin client - most clients use Citrix environment Java and .NET 1, 2, 3, 4, 5 Yes, OpenLink offers a very flexible framework to expand or customize the standard Between 3 and 12 months, depending on the size of the footprint and the level of Can be either
IRM, CubeIntelligence, market solutions. customization.
DBCSMARTsoft However, based on case-to-case, client-specific needs can be addressed.
(OpenLink)
Marketing, supply and invoicing Yes, it runs in all major browsers (PC and mobile devices) N/A 1, 2, 3, 5 Yes. Clients can do self-service customization. We are constantly and continuously rolling out the latest code. It is capable of Vendor
scheduling platform supporting HTML5. executing multiple releases in a single day.
(Panton)
TRMTracker TRMTracker is a web-based application that runs in IE. It A combination of Java and PHP 1, 2, 3, 4, 5 We offer our clients a proven, flexible product with customized service tailored to Major new releases are scheduled every 24 months. Can be either
(Pioneer) runs on thin-client architecture. programming languages. meet their unique business needs. Our software is user-configurable and template Minor upgrades are scheduled every 12 months.
and formula based, so it can be easily adapted and configured to meet clients Quarterly patches are released as needed.
business challenges a factor that ensures a high-quality, on-time delivery. Hotfixes are released as needed to assist customers with critical technical issues.
Aligne Yes, we are migrating to an HTML5 interface for our latest 1, 2, 3, 4, 5 Yes. The product is able to be extended to add new data elements for any trade, Depending on the customer and processes, an upgrade could take between 3 Can be either
(SunGard) Aligne5 release. contract or data item, add new models for valuation, or configured to calculate months and 9 to 12 months.
custom-specific calculations or reports. This is done mostly by configuration, or
with some programming by either the client or vendor.
XDM, Kiodex, MarketMap 1, 2, 3, 4, 5 Yes. The product is able to be extended to add new data elements for any trade, Depending on the customer and processes, an upgrade could take between 3 Can be either
Energy contract or data item, add new models for valuation, or configured to calculate months and 9 to 12 months.
(SunGard) custom-specific calculations or reports. This is done mostly by configuration, or
with some programming by either the client or vendor.
EnTrader Web browser C#, .NET and SQL Server 1, 3, 4, 5 Yes, it can be extended. The client can program against a variety of APIs, including Upgrades take a couple of hours and are usually included in the license fee. Can be either
(Trayport Contigo) web services.
50 Commodity Trading and Risk Management Systems Overview | 2016 edition Commodity Trading and Risk Management Systems Overview | 2016 edition 51
EY Contacts
EY contacts
Switzerland
United Kingdom
Somil Goyal Annette Pearson
Executive Director Senior Manager
sgoyal1@uk.ey.com apearson@uk.ey.com
Tel. +44 20 7951 1757 Tel. +44 20 7951 5113
United States
Bill Fraser Hieu T. Phan
Executive Director Senior Manager
bill.fraser@ey.com hieu.phan@ey.com
Tel. +1 713 750 4806 Tel. +1 713 962 2667
France
Kirill Verevitchev Guillaume Catoire
Partner, Ernst & Young Ltd Senior Manager
kirill.verevitchev@fr.ey.com guillaume.catoire@fr.ey.com
Tel. +33 1 46 93 45 05 Tel. +33 1 46 93 46 16
About EY
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