commoditypoints ancillary sourcebook - version 2

CommodityPoint, a division of UtiliPoint International Inc.

TRM Ancillary Software Vendor and Product SourceBook

Copyright 2011 UtiliPoint International, Inc. 1

Trading & Risk Management Ancillary Vendors and

Products Version 2

July, 2011




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Table of contents

Introduction to the CommodityPoint TRM Ancillary Software Sourcebook.. 5 Important Disclaimer………………………………………………………………………………….. 6 How CommodityPoint Can Help Your Selection Process…………………………….. 7 Product and Vendor Listing………………………………………………………………………… 8

APX

Apx MarketSuite…………………………………………………………………………………………. 10 Ascend Analytics

PowerSimm………………………………………………………………………………………………… 12 Aspect Enterprise Solutions

Aspect DSC………………………………………………………………………………………………….. 14 Aspect Price Manager…………………………………………………………………………………. 16 Bi-Sam Technologies

B-One…………………………………………………………………………………………………………. 18 Brady PLC

Brady Version 2011…………………………………………………………………………………….. 20 Contigo

enPrice……………………………………………………………………………………………………….. 22 enTrader…………………………………………………………………………………………………….. 24 enVoy…………………………………………………………………………………………………………. 26 Derivative Trading Systems Ltd

ExPDA…………………………………………………………………………………………………………. 28 Horizon/Open Horizon/Horizon Direct………………………………………………………. 30 Energycredit (A Temenos Company)

Energycredit……………………………………………………………………………………………….. 32 e-Opt Solutions

PriceHub…………………………………………………………………………………………………….. 34 IRM (An OpenLink Company)

iOpt…………………………………………………………………………………………………………….. 36 KYOS Energy

Quantitative Energy Models………………………………………………………………………. 38 Lacima Group

Lacima Analytics…………………………………………………………………………………………. 40 LIM (A Morningstar Company)

LIM Data Management Solutions………………………………………………………………. 42 Macro Enterprises

VaRManager……………………………………………………………………………………………… 44

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Navita POMAX Curve Manager…………………………………………………………………………….. 46 POMAX EDM……………………………………………………………………………………………… 48 POMAX PENS…………………………………………………………………………………………….. 50 NRGSTREAM

NRGSTREAM Trader…………………………………………………………………………………… 52 OATI

webRisk……………………………………………………………………………………………………… 54 webSettlementPro…………………………………………………………………………………….. 56 webTrader…………………………………………………………………………………………………. 58 OpenLink

Endur…………………………………………………………………………………………………………. 60 QT Information Systems

QT Plus………………………………………………………………………………………………………. 62 Quanthouse

QuantFACTORY 5.2…………………………………………………………………………………….. 64 Quartet Financial Systems

ActivePivot 4.1…………………………………………………………………………………………… 66 Smartco

SmartCo DataHub………………………………………………………………………………………. 68 SoftSmiths

SoftSmiths TMS………………………………………………………………………………………….. 70 Syseca

EDIS 2.15…………………………………………………………………………………………………….. 72 Transgraph consulting

TransRisk……………………………………………………………………………………………………. 74 Triple Point Technology

CommodityXL……………………………………………………………………………………………. 76

References & Other Useful Resources References………………………………………………………………………………………………… 78

Useful Resources………………………………………………………………………………………. 78 About CommodityPoint……………………………………………………………………………. 79 About UtiliPoint® International, Inc............................................................. 80




















Introduction to the CommodityPoint Trading & Risk Management Ancillary Software SourceBook

The CommodityPoint TRM Ancillary Software SourceBook is designed to be a useful and usable resource to help those seeking software solutions that support or enhance the functional capabilities of their trading infrastructures, including their core commodity trading and risk management systems. This document should be viewed as a starting point in that selection process, providing a high-level guide to allow you to select a long list of vendors for inclusion in an RFI and/or RFP process. It is NOT designed to be a replacement for your selection process. TRM Ancillary software is simply often too complex to be selected properly without a reliable and complete selection process. We anticipate that the CommodityPoint TRM Ancillary Software SourceBook will allow you to compile a list of vendors that may include some you might otherwise not have considered or may even not previously been aware of. In that way, we believe it can make your selection process more complete.

We have developed a readily consumable format for each vendor and product listing that has summary information about each vendor and product that includes:

• Functional and commodity coverage, • Contact details, • Product and vendor information, • Representative clients, • Geographical and industry segment distribution of users, • Website details.

The product functionality and other information are presented using charts which are easily readable providing information about the vendor’s functional coverage.

CommodityPoint’s methodology for constructing the Sourcebook was to develop a spreadsheet and questionnaire for each vendor. The spreadsheet was completed by the vendor in which they identified by commodity and function or feature whether their software had capabilities in that area. These were inspected by CommodityPoint and some adjustments made before final collation of the information. The questionnaire was used, in part, to complete the vendor/product listing along with information collected in other CommodityPoint surveys and research. The listings are compiled by CommodityPoint analysts.

If you are aware of a product that should be considered for inclusion in this TRM Ancillary Software SourceBook, please let us know. We are dedicated to making this and every SourceBook by CommodityPoint the ultimate resource for industry participants seeking data and information on software products and their vendors.




Important Disclaimer

It should be noted that CommodityPoint cannot guarantee the accuracy of the

Vendor listings although we have attempted to match vendor claims against our

knowledge of the market. In fact, given the complexity of the TRM Ancillary

Software space generally, we cannot guarantee that the vendors have

interpreted the terminology we used accurately in preparing their responses nor

that each vendor has applied the same approach and/or interpretation in

answering our questions. Rather, the material is presented on the basis that it is

indicative of the broad capabilities of vendor’s products at the time of its

printing. CommodityPoint strongly advises users of this document to verify with

the vendors and undertake requisite due diligence when selecting software.

Additionally, CommodityPoint analysts are available to assist or provide

additional input on a consulting basis.





How CommodityPoint Can Help Your Selection Process CommodityPoint is well known for its analysis capabilities in the CTRM and related software area but we

also offer services of tremendous value to those seeking to select and implement CTRM and related

software that are designed to reduce costs, timescales and risks. CTRM and related software selection

and implementation projects can be fraught with risk, slippage and cost over runs and for that reason,

CommodityPoint offers advisory and audit services into those types of projects.

We deliver our advisory and audit services as a part of your extended project team coming in at specific

points along the project to provide external audit services while being on call in an advisory capacity to

help guide the project at any particular moment. Our audit function is usually geared to match up with

project checkpoints where we can examine project deliverables. These might include:

• RFI review – we examine your RFI for omissions and oversights while helping ensure that the

vendors that it is sent to are the ones that can in fact meet the requirements of the project;

• RFP review – we examine the RFP for omissions and oversights while helping ensure that the

vendors it is sent to are the ones that have the best chance of meeting the requirement;

• Vendor response analysis and scoring – we help in reviewing vendor responses and

developing scoring mechanisms for the project;

• Project plan reviews – we examine the project plan and scope and advise on omissions,

timescales and costs;

• Pre-selection workshop – CommodityPoint educates the core selection team on the market,

vendors, implementation experience and more to better prepare you for the experience;

• Final Selection – review of project deliverables and advice on the contracts process as well

as starting to review proposed implementation teams, costs, and timescales;

• Implementation Assistance – Checkpoint and milestone reviews of the project.

CommodityPoint has delivered such services on numerous occasions and has been credited with saving

money, reducing timescales and project risks by our clients.

Please contact us for more details on how we can assist you by emailing us

at [email protected]

mailto:[email protected]





Product and Vendor Listing Each Vendor and Product listing is arranged according to the same format for clarity and ease of use. Each listing comprises:

• The name of the vendor and product,

• A graph showing the distribution by geography and industry segment of the product’s

installed base,

• Company and product information comprised from a variety of sources including vendor’s

website, collateral and CommodityPoint material,

• A graphical matrix providing an overview of the product's capabilities,

• Vendor’s office locations,

• A representative list of users of the product – where provided by the vendor -, and

• The vendor’s website address.

The listing allows rapid comparisons between vendor products as well as a pulse check in terms of

whether that product is one utilized in your geography of operation and/or industry segment. The

functionality matrix shows the area of functionalities or system features. This is indicated via color

coding to make the graphic rapidly consumable and easy to read or compare and contrast with other

listed products.

Overall, the listings provide sufficient compact detail to identify vendors and products that may meet

your requirements and should therefore be candidates for your long list at the start of a selection

exercise.

Those thinking about a software selection exercise may wish to consult our book – Selecting &

Implementing Energy Trading, Transaction & Risk Management Software – A Primer (Reames & Vasey,

2008) published by Booksurge Publishing, for additional best practices and guidance.





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APX MarketSuite APX 224 Airport Parkway, Suite 600 San Jose, CA, 95110 United States

Markets/Geographies Served

Company/Product Information APX's business experience spans transaction management, power scheduling, settlements, professional services, demand-side management, asset control and analytics, real-time operations, electronic exchanges, clearing, and energy brokerage. They leverage their deep domain and technological expertise to provide focused solutions for their clients in the energy markets. With the APX MarketSuite® and Software as a Service (SaaS) model, market participants benefit from rapid market entry, a minimal initial investment and reduced total cost of ownership. There is no need to build, buy, install and maintain an IT infrastructure and constantly changing scheduling and settlement applications. Business continuity is assured for market participants through redundant facilities, systems, and 24/7 monitoring. Further, APX applications are always current with market changes so there is no need to attend every working group. APX MarketOps® services offer power market

participants a fast and cost-effective way to handle their power market operations. There is no need to invest and maintain a costly 24/7 operations center and hire additional operations staff, because APX staff can respond to their clients changing business needs. If you are a new market entrant or need to understand how market changes impact your strategy or operations, APX also offers APX MarketAdvisor® consulting services. The APX MarketSuite® supports scheduling and settlement in multiple Independent System Operator regions. The ISO scheduling applications support the submission of schedules, bids, offers, and operating parameters in support of the different ISO




market products, timelines, and transaction types. The Checkout Dashboard provides summaries and statuses of ISO bids, schedules, and awards. It is also useful to view a summary of data submitted via machine-to-machine interface via the cross-market API which provides access to multiple ISOs. Data can also be downloaded from the Data Warehouse via web services to integrate with downstream accounting systems. Both private and public data is stored along with original files to satisfy record keeping requirements, disputes, and reporting. Data includes both settlement and scheduling data from ISO systems easily accessible through reports that can also be exported in multiple formats. The calculation engine supports settlement allocations, estimations, and shadowing for different settlement versions. The Settlement Comparison application supports comparison of any ISO statement version and/or replicated types, including the ability to set different types of tolerances.

The Workflow Engine automates all of the business processes. The platform also includes a Message Window to view the different ISO communications and an Alert Engine to notify users of various events. Main Office 224 Airport Parkway, Suite 600 San Jose, CA, 95110 United States Tel: +1.408.517.2100 Other Locations None provided Representative Clients None provided Website http://www.apx.com

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PowerSimm Ascend Analytics 1877 Broadway Street, Suite 706 Boulder, CO, 80302 America


Company/Product Information Ascend Analytics is a leading software solutions and services firm that has grown steadily for the past decade. As energy portfolios increase in complexity, energy analysts require more robust tools to accurately model their major components of risk. Ascend Analytics provides the robust models needed by today's energy analyst. Ascend works with many of the world's leading energy companies to achieve efficient processes and superior decision analysis. Ascend marries our leading models with superior customer service to provide an unmatched offering. Ascend Analytics is an innovative software service company focused on energy analytics. Energy portfolios and markets have increased in complexity making decision analysis more difficult. Ascend’s solutions provide the core analytic infrastructure to stream line processes, enhance understanding, and support decisions. Founded in 2002, Ascend is an employee owned software service company based in Boulder,

Colorado. Ascend’s management team has over 60 years of direct energy experience. Our focus remains the analytic and data infrastructure to support decision analysis from the next hour to the next thirty years. Ascend has utilized the latest technologies and modeling techniques to allow energy analysts and risk managers to meet today’s challenges. The PowerSimm software solution is a complete analytics platform for energy portfolio, risk




management and hedge analysis. PowerSimm provides the analytic and data infrastructure to support decision analysis from the balance of month to the next 20 years. Making better models requires getting the details right to accurately represent the physical and financial dynamics of energy supply. Ascend Analytic’s software models allow energy companies to increase cash flow certainty, improve position analysis, optimize hedge design, and improve price forecasting and asset valuation. Key uses: Portfolio analysis, hedge optimization, deal valuation, scenario analysis & risk management.

Main Office 1877 Broadway Street, Suite 706 Boulder, CO, 80302 America +1 303.415.1400 Other Locations Not Provided

Representative Clients Not Provided Website www.ascendanalytics.com



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AspectDSC – Decision Support Center

Aspect Enterprise Solutions Castlewood House 77-91 New Oxford Street London WC1A 1DG


Company/Product Information Aspect Enterprise Solutions was founded in 1999, as OILspace, to leverage unique industry knowledge, modern technology and years of experience. Building upon a flexible infrastructure and technology platform, with an innovative development methodology, Aspect’s development team has produced a range of web-based applications, customization services and enterprise integration solutions.

With more than a decade’s experience dealing with the world’s largest energy corporations, OILspace became Aspect Enterprise Solutions to mark the company’s expansion into broader commodities markets, including metals, softs, and emissions. After meeting the needs of major players in one of the toughest industries there is, Aspect Enterprise Solutions now continues to take that expertise onto a broader stage outside of just oil and energy.

Aspect Enterprise Solutions is the only SaaS vendor offering products and solutions that fit all sizes of companies, from small trading houses to global conglomerates. Working together with clients’ IT departments, and those

with limited resources, Aspect can quickly deploy on-demand solutions with a smart approach to problem solving.

Real-time data and historical analysis are essential tools for all trading companies operating in today’s energy and commodity markets. AspectDSC is a Decision Support Center providing market data, real-time and historical futures, spot prices and the latest market news from multiple exchanges and information providers such as CME, CBOT,




NYMEX, COMEX, LME, Platts, Dow Jones and BBC. The solution is configurable to the needs of each individual user and features fully customizable panels to filter and display only the data required. Delivered via the Web as Software-as-a-Service, the platform is easily accessible from any pc or mobile device with an internet connection. There is no software to install or maintain and no lengthy training so users can be active right away - total cost of ownership is low and ROI is high. The system integrates easily with AspectCTRM and other commodity trading and risk management solutions for seamless data management, trade capture and risk management and features a number of powerful tools including: Real-time futures panels provide live and delayed prices for each product on the ICE, NYMEX, CME, CBOT, COMEX, DME, LME and Bursa Malaysia exchanges along with live Forex data. Customizable Price Tables allow traders to view live, delayed and end-of-day prices for multiple instruments delivered by different exchanges, shown in side-by-side columns and filtered by the end-user. DSCharts offers advanced charting capability and is globally recognized for ease of use. New features allow for up to five instruments to be tracked in one chart to show price correlations for multiple contracts, and charts can be filtered to show either local time or exchange time.

Time and Sales panels provide an in-depth view into the market in real-time, showing live trades, bids and offers as well as allowing users to create historical searches for trades within specific date and price ranges. This new functionality presents greater visibility of market liquidity and trade volume at a particular time. Aspect Enterprise Solutions is the only SaaS vendor offering products and solutions that fit all size of company from small trading houses to global corporations. Working closely with client’s AES can quickly deploy on-demand solutions with a smart approach to problem solving. Main Office Castlewood House 77-91 New Oxford Street London WC1A 1DG Tel: +44 20 7632 0170 (Office hours) Tel: +44 20 7632 0180 (After hours) Fax: +44 20 7836 8030 Other Locations New York - Tel: +1 347 328 0396 Moscow – Tel: +7 495 925 7245 Singapore – Tel: +65 6738 6525 Kuala Lumpur – Tel: +603 2300 3129

Representative Clients Sabic UK Mabanaft Addax & Oryx Website http://www.aspectenterprise.com



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Aspect – Price Manager Aspect Enterprise Solutions Castlewood House 77-91 New Oxford Street London WC1A 1DG


Company/Product Information Aspect Enterprise Solutions was founded in 1999, as OILspace, to leverage unique industry knowledge, modern technology and years of experience. Building upon a flexible infrastructure and technology platform, with an innovative development methodology, Aspect’s development team has produced a range of web-based applications, customization services and enterprise integration solutions.

With more than a decade’s experience dealing with the world’s largest energy corporations, OILspace became Aspect Enterprise Solutions to mark the company’s expansion into broader commodities markets, including metals, softs, and emissions. After meeting the needs of major players in one of the toughest industries there is, Aspect Enterprise Solutions now continues to take that expertise onto a broader stage outside of just oil and energy.

Aspect Enterprise Solutions is the only SaaS vendor offering products and solutions that fit all sizes of companies, from small trading houses to global conglomerates. Working together with clients’ IT departments, and those

with limited resources, Aspect can quickly deploy on-demand solutions with a smart approach to problem solving.

Aspect Price Manager (PM) is a forward curve management system that supports the global price forecasting process for oil and petroleum products. It aggregates forward curves and forecasts from all sources into a single database, incorporating a knowledge-base of pricing methodologies and supporting the end-to-end price forecasting process, from traders




entering differentials through to the delivery of prices exported to other systems. Historical prices can be accessed from AspectDSC or other data sources and easily uploaded into Aspect PM to create and manage forward curves. Consolidated curves can then be entered into AspectCTRM or other trade and risk management solutions to use in marked-to-market P&L calculations to identify and manage potential risks. Aspect PM features valuable decision support tools: the Price Calculator brings multiple price curves together and calculates new forward curves; powerful analysis tools and charts allow the tracking of scenarios using history, seasonality trends and forward pricing in the same chart; the Alert Tool sends automated messages when prices on your watch list reach or exceed certain values, emailing reminders to update prices.

AES offers trading firms of all sizes cost effective and quick to deploy, on-demand SaaS solutions to support forecasting and empower trading decisions. Main Office Castlewood House 77-91 New Oxford Street London WC1A 1DG Tel: +44 20 7632 0170 (Office hours) Tel: +44 20 7632 0180 (After hours) Fax: +44 20 7836 8030 Other Locations New York - Tel: +1 347 328 0396 Moscow – Tel: +7 495 925 7245 Singapore – Tel: +65 6738 6525 Kuala Lumpur – Tel: +603 2300 3129

Representative Clients Sabic UK Mabanaft Addax & Oryx Website http://www.aspectenterprise.com



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B-One Bi-SAM Technologies 43/47, av. de la Grande Armée 75016 Paris


Company/Product Information Business Intelligence Solutions for Asset Management (BI-SAM) was created in 2000 by experts in asset management, new technology and strategy and organisation consulting. In ten years, BI-SAM has become a market reference for data management, performance & risk measurement and attribution, GIPS compliancy and reporting solutions. Our integrated and innovative solutions have already been adopted by many renowned asset managers in France, Belgium, Luxembourg, Switzerland, UK, Hong Kong, Singapore, USA and Canada who have assets under management ranging from 1 billion to 1,5 trillion Euros.

B-One, BI-SAM’s award winning solution, fully integrates with the middle & back office operations of Asset Management companies. This enterprise solution leverages a single database to deliver validated attribution results to performance teams, investment managers and their marketing operations via an easy-to-use browser-based user interface and advanced reporting solution. B-One delivers improved scalability and client service whilst reducing operational risk in today’s complex and integrated technology environment.

Their product, B-One, leverages a single database to deliver validated attribution results to performance teams, investment managers and their marketing operations via an easy-to-use browser-based user interface and advanced reporting solution.




Bi-SAMS’s clients have assets under management ranging from €10 billion to €1.5 trillion. BI-SAM’s vision of the client reporting includes the following basics:

1. The importance of the data storage and integrity checks

2. An easy access to the information through standardization, robustness and reproducibility

Their clients use BI-SAM’s clients reporting solution to provide investors with detailed information on investment decisions, to improve their reports’ customization, automation and delivery timeframes.

Main Office 43/47, av. de la Grande Armée 75016 Paris Tel: +33 (0)1 42 85 73 00 Other Locations Luxembourg: Tel: + 352 22 99 99 52 79 London: Tel: + 44 (0)20 3008 5830 New York: Tel: + 1 646 512 5770 Hong Kong: Tel: + 852 3971 9106

Representative Clients Schroder Investment Management Natixis Asset Management Covéa Finance Fiera Sceptre Aviva Investors Website http://www.bi-sam.com



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Brady Version 2011 Brady PLC 281 Cambridge Science Park Milton Road Cambridge CB4 0WE


Company/Product Information To prosper in today‘s increasingly complex marketplace, physical trading companies and financial institutions rely on specialist solutions and sophisticated analysis to maintain a competitive edge in the global markets. The latest generation of Brady‘s market leading solutions provides integrated trading, risk and settlement systems. With comprehensive audit, compliance and regulatory functions, businesses can now combine sophisticated management techniques with highly efficient throughput to drive down costs. The straight-through processing capability of an open service oriented architecture which facilitates ease of integration into the clients environment, thus enabling an enterprise to quickly achieve a lower cost per trade and provides a proven foundation for effective risk management and a streamlined, efficient business process. Brady is a well funded public company, backed by leading institutional investors. With 25 years’ experience of developing leading technology, Brady is now used by over 150 companies on 5 continents; their clients include some of the largest trading companies, financial institutions, producers, mining corporations, energy generators and hedge funds in the world. By working closely with their clients in the metals & minerals, energy & softs markets Brady continue to lead the way in trade capture and risk management, increasing productivity and operational & regulatory efficiencies in a changing landscape. The global commodities markets are becoming more volatile and complicated; growing regulatory (Dodd-Frank, Mifid, Basle III), legal and corporate governance requirements are adding even more

pressure. To keep pace businesses need to unlock the real value of their information and market intelligence. That means breaking up data silos and deploying the tools necessary to capture, access and share data accurately, efficiently and in real-time, right across the value-chain. Brady‘s transaction and risk management applications are designed to help their clients manage all their commodity transactions in a single integrated solution – including pre-deal analysis, trade capture, foreign exchange, market and credit risk, logistics, cash management, physical operations, back office financials, settlement, freight, regulatory reporting and more.




A fundamental market driver in recent times has been the significant increase in electronic trading - across all asset classes. Increased market volumes, volatile markets and continuing pressure on market-makers to offer complete & competitive services to clients have seen a dramatic increase in the availability of both order- and execution-management systems across the industry. The impact on trading and risk systems on both sides of the market is pronounced: Brady’s Trading and Risk Management solutions are designed to offer highly efficient and optimised system and trade processing and risk reporting: from the on-boarding of new clients; through exchange connectivity for transaction processing and post-execution processes such as confirmations and client statement; to advanced real-time risk analysis and monitors across exchange-traded and OTC contracts. Technology is a key component in the increasingly complex demands of a modern trading environment: simplifying integration; increasing data performance; and enabling more efficient data presentation and user experience. Technical innovation is very much at the fore-front of Brady’s latest generation of solution offerings, utilising the very latest Microsoft standards, such as Silverlight and C#, and service-based architectures to offer new levels of scalability and performance to its solutions. Brady is a proven market leader and provides solutions for all sizes of operation. Whether the requirement is for hundreds of users across the entire process – from point of production to end-user – or for just a few users who are targeting one aspect of the supply chain, we have a solution. Brady's products can be fully integrated with 3rd party systems and applications, whether internal or external. The goals are the same for everyone – to be competitive, profitable, fast, manage risk, streamline operations, and meet regulatory requirements.

Brady’s integrated solutions serve the following markets; Metals and minerals; refined and unrefined, base, precious, steel Raw materials; coal, iron ore Energy: electricity, gas, carbon, coal, oil Softs and Agriculturals Freight

ROI and support Professional Services Using proven methodologies (PRINCE 2) our highly experienced team of consultants will provide the guidance and expertise you need to ensure a successful implementation. Brady is committed to helping clients achieve a rapid ROI, reducing risk during implementation and gaining the maximum benefit from the solution.

Education Services Dedicated classroom and on-site training as well as optional, customized training courses which can be developed to meet specific business and user requirements.

Support & Maintenance Brady offers a range of support packages, providing fast, efficient and comprehensive support designed to match the particular needs of your organization and complement your existing skills and resources.

Main Office 281 Cambridge Science Park Milton Road Cambridge CB4 0WE Tel: +44 (0)1223 479479 Other Offices London – Tel: +44 (0)20 7002 1619 USA – Tel: +1 610-941-2780 Paris – Tel: +33 1 45 26 59 37 Singapore – Tel: +65 6725 6503 Switzerland – Tel: +41 (0)22 8691000 Bergen, Norway – Tel: +47 55 30 28 00 Oslo, Norway – Tel: +47 55 30 28 30

Representative Clients None specified. Website http://www.bradyplc.com



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CTRM Vendor and Product Sourcebook


enPrice Contigo Blythe Valley Innovation Centre Blythe Valley Business Park Solihull, England B90 8AJ


Company/Product Information Contigo is a leading provider of trading and logistics software products for the energy industry. Based in the UK, it has developed the innovative and flexible enTrader family of products that deliver significant business value to its customers. It utilises agile delivery methods and state of the art technologies to deliver and implement those solutions both rapidly and cost effectively. Contigo has a proven delivery track record with major blue chip clients. Contigo is becoming the provider of choice for many energy companies who seek expert knowledge of their business in a supplier. Our enTrader product, launched in March 2009, is quickly becoming the market leader in addressing both energy retail portfolio management and fuel logistics, as well as

establishing itself as a serious contender in the ETRM/CTRM space. Within the enTrader suite, our enVoy product provides fast, responsive and reliable intra-industry data flow management, with minimal operational intervention. Our latest product, enPrice, is a comprehensive costing and pricing




engine designed for the electricity, gas and dual fuel retail markets. enPrice is a purpose built pricing engine for the power and gas market. enPrice is fully automated and consists of two principal parts – system maintenance and quote production. enPrice will mirror settlements, by detailed and accurate use of Market Domain Data. enPrice will correctly determine all relevant costs to supply by mirroring the relationship between the customer’s supply number, MDD and the settlements system. enPrice will determine third party charges with maximum granularity by correctly modelling the charging systems used by all parties in the supply chain. All individual charging elements are accurately duplicated within enPrice, irrespective of the level of detail required. The system has been specifically designed to allow the user themselves to update and fully maintain the system.

Any cost element, either in level or structure, is both rapid and simple to implement. In addition to the duplication of third party charging structures the system provides for the flexible application of user specific price related issues such as margins, risk, price escalation factors and overheads. This is configurable, and customer specific costs can be instantly updated to reflect market reality and maintain anticipated profits. Main Office Blythe Valley Innovation Centre Blythe Valley Business Park Solihull, England B90 8AJ Tel: +44 121.506.9115 Representative Clients RWE E.ON Centrica Website www.contigoenergy.com

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enTrader Contigo Blythe Valley Innovation Centre Blythe Valley Business Park Solihull, England B90 8AJ



establishing itself as a serious contender in the ETRM/CTRM space. Within the enTrader suite, our enVoy product provides fast, responsive and reliable intra-industry data flow management, with minimal operational intervention. Our latest product, enPrice, is a comprehensive costing and pricing




engine designed for the electricity, gas and dual fuel retail markets. enTrader is a new generation commodity trading, risk and portfolio management solution. enTrader is very fast to deploy due to its web based architecture and ‘out of the box’ functionality, simple to configure and implement due to its modern design, offers excellent performance and functionality and its user interface makes it very straight forward to use. enTrader is designed from the ground up to handle multiple commodities in multiple markets using multiple currencies. enTrader allows multiple trading calendars to be defined to manage the vagaries of individual trading environments, including sub-daily period calendars. enTrader manages physical trades, including a comprehensive fuel logistics suite, and financial commodity trades, options and shape trades for multiple commodities. enTrader’s trading capability is based on definable calendars and products. Calendars are defined for each trading market required. enTrader features a sophisticated real time position management engine.

enTrader maintains multiple, definable trading positions in real-time as trades are entered into the system. These positions can also have real-time Mark to Market valuations against a specified forward curve. Manual positions can be maintained in enTrader to allow forecast or target positions to be stored and compared against real-time traded positions. Main Office Blythe Valley Innovation Centre Blythe Valley Business Park Solihull, England B90 8AJ Tel: +44 121.506.9115 Representative Clients RWE E.ON Centrica Website www.contigoenergy.com






enVoy Contigo Blythe Valley Innovation Centre Blythe Valley Business Park Solihull, England B90 8AJ



establishing itself as a serious contender in the ETRM/CTRM space. enVoy simplifies the process of sending and receiving energy industry data flows, linking your energy trading function directly to external data agents.




enVoy significantly reduces the time and resources consumed by notification and dispute investigations. For notification, enVoy reduces risks and eliminates manual tasks by collecting data from your trading system automatically, monitoring your notifications and trading positions in real time, and raising user defined alerts. To facilitate dispute investigation and resolution, enVoy’s fully audited infrastructure means notification files can be located and viewed in seconds with drill downs directly from individual trade records. enVoy's management by exception operation increases confidence in your ability to limit imbalances which enables additional profit opportunities by trading right up to the last available time period. By maintaining a real-time view of notification and submission status and automatically reconciling back to the trading and scheduling systems, there is less need to “operate” the system. Issues and alerts are only raised when they require management or user attention.

enVoy allows detailed definition of alert thresholds and priorities allowing a range of alert conditions to be properly managed. Alerts are automatically generated when these conditions are met. Main Office Blythe Valley Innovation Centre Blythe Valley Business Park Solihull, England B90 8AJ Tel: +44 121.506.9115 Representative Clients RWE E.ON Centrica Website www.contigoenergy.com







ExPDA Derivative Trading Systems Ltd First Floor Unit, 1, Bastwick Street, London EC1V 3NU


Company/Product Information Derivative Trading Systems Ltd (“DTS”) is a privately owned business that has been trading since 1992. With their head office in London, the company services the UK and European financial markets. DTS also has a sales office in Sydney to cover the expanding Asia Pacific markets.

The Company's global presence now encompasses sixteen countries. Customers range from the largest, best known investment and commercial banks to more recently, a wide variety of hedge funds.

Over the last 20 years there has been phenomenal growth in the derivatives markets, and bank retailing of various structured finance. DTS has been able to find an important niche alongside these markets not least through a meticulous attention to detail over its historic database of financial data.

The company's flagship product is the Horizon application developed and sold to financial institutions worldwide. From its inception, Horizon brought together a sophisticated database of market data and a range of analysis




not previously available in a single software solution. Through on-going development of the analytical software and expansion of the database that supports Horizon, it still continues to boast features that many other third party and home grown applications are unable to reproduce.

DTS's underlying data is captured at a consistent point in time three times a day from multiple sources to coincide with the closing of each of the major world financial centers. Careful collection and screening procedures ensure that the high quality of the Horizon database is maintained. Yield curve data goes back to 1986 for major currencies. Spot FX and other selected data goes back to 1980.

In recent times the company has undertaken new research and development into new products and applications and new and innovative ways to leverage the database that has been put together. These new products cover a range of different areas with a focus on real-time market data distribution, Web Services data distribution, Java Charting solutions and a range of Risk Management solutions. DTS's latest development is ExPDA (Excel Publish & Display Application) which allows an organization to take in real time data, add value to it and then publish it to authorized users either internally or externally using an Excel interface.

Key features of the ExPDA Data Distribution Network

* Share data between Excel users in real time, * An easy to navigate Data Selection Tool to

make the selection of the Published data and 3rd party data feeds as simple as possible,

* Reliable, resilient, cost-effective publishing solution built on high performance real-time data distribution technology,

* A highly flexible solution that is easy to install and manage,

* Low latency solution with the ability to automatically change protocols depending on the network architecture,

* Publish real time data from spreadsheets to web pages, simply and easily,

* Share real time data between multiple users and multiple sites in a managed, efficient manner,

* Configurable and controllable data loss in times of high throughput traffic,

* The cost of the ExPDA solution is as little as US$110 per user per month which includes ongoing upgrades and technical support.

Head Office First Floor Unit, 1, Bastwick Street, London EC1V 3NU Phone +44 (0)207 689 6688

Other Locations Sydney - Tel: +61 (0)2 9484 4640

Representative Clients None Provided

Website www.derivs.com

http://ctrmblog.com/forwards/sourcebook/derivs.php





Horizon/Open Horizon/Horizon Direct

Derivative Trading Systems Ltd. First Floor Unit, 1, Bastwick Street, London EC1V 3NU


Company/Product Information Horizon has been responsible for identifying and verifying more profitable trading opportunities for our users than any other similar application in its class.

Benefits: • Horizon allows users to outperform their

competitors by providing the tools to react faster to analyzing market strategies,

• Used extensively by traders, quants and sales staff to identify and verify trading and arbitrage opportunities,

• Perform rapid and accurate in depth analysis on market trends in a wide range of asset classes,

• Horizon has the ability to do analysis on all components of the yield curve such as forward rates of any configuration,

• Save vast amounts of valuable time when doing complex data analysis.

Main Features: • Extensive historical database of rates

extending back over 30 years, • A broad range of asset classes are covered as

well as commodities, These include




derivatives, fixed income, f/x, money market, and equities,

• All analysis in Horizon is created with an easy to use graphical navigation tool,

• The data is always up to date and accurate. The accuracy of the data helps to ensure that analysis errors are minimized,

Horizon Premium is a powerful financial data charting and analysis tool providing access to an extensive database of high quality market data owned by DTS.

Open Horizon gives users an easy way to extract data from the Horizon database without writing code. This data can then be loaded into their own Excel © (and other) applications to be manipulated.

Horizon COM (Component Object Model) is an API version of Horizon Premium allowing users to make calls to the Horizon database and its functionality from their own applications (e.g. Matlab ©, Excel © and other financial applications) using programming languages such as Visual Basic, C and C++ Horizon Direct is a Web version of Horizon Premium aimed at sole traders or users who are out of the office, or working at home, or who need remote access for presentations / demonstrations access via the internet to the Horizon database. The data is not stored locally on the user's PC or network but is accessed via the internet to one of the data servers maintained by DTS.

DTS offers access to the high quality historical Horizon database via the Internet using SOAP and REST functionality. Registered users can now specify and download the data they require and so only pay for the data they use. Web Services enables integration of the Horizon Database with Microsoft programs like Excel © using simple data queries, or incorporating DTS's historical data into web pages or other 3rd party applications.

Head Office First Floor Unit, 1, Bastwick Street, London EC1V 3NU Phone +44 (0)207 689 6688 Other Locations Sydney – Tel: +61 (0)2 9484 4640 Representative Clients Not Provided

Website www.derivs.com

http://ctrmblog.com/forwards/sourcebook/derivs.php





Energycredit Energycredit, A Temenos Company 45, Monmouth Street Covent Garden, London WC2H 9DG United Kingdom


Company/Product Information energycredit, a Temenos company, is solely focused on providing enterprise wide, credit risk management software to the Global Energy, Commodity and Capital markets. energycredit enables trading organizations to boost business growth whilst driving down operational and administrative costs through the effective management of credit, liquidity and counterparty risk. energycredit manages counterparty credit assessments, contract management, limits and exposure management, collateral and margin management as well as potential future exposure. energycredit has been awarded the best credit risk management solution by Energy Risk magazine readers for five years since 2006. Both large and small trading organizations rely on energycredit including Shell, Statoil, E.ON, RWE, EnBW, Vattenfall, Nuon, Enel, Gunvor

International, Rabobank, PowerEx, RRI Energy, Calpine, FPL, Mirant, Luminant Energy Futures, Chevron, TXU, American Electric Power and Anadarko Petroleum Corporation. energycredit is uniquely the only truly packaged and upgradeable product that can be implemented within eight weeks to support all the key credit processes.




Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 58 offices worldwide, Temenos serves over 1000 customers in more than 120 countries. Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600 implementations around the globe. Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos is top of the IBS Sales League Table 2009, winner every year since its launch of the Best Core Banking Product in Banking Technology magazine’s Readers’ Choice Awards and ranks 26th in the American Banker top 100 FinTech companies.

Temenos customers are proven to be more profitable than their peers: data from The Banker – top 1000 banks shows that Temenos’ customers enjoy a 54% higher return on assets, a 62% higher return on capital and a cost/income ratio that is 7.2 points lower than non-Temenos customers. Main Office 45, Monmouth Street Covent Garden, London WC2H 9DG United Kingdom Tel: +44 (0)20 7836 3010

Other Locations India - Tel: +91-80-41376000 Houston - Tel: +1 713 520 5770

Representative Clients None provided Website www.energycredit-software.com

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PriceHub e-Opt Solutions Storchenstrasse 24 68259 Mannheim Germany


Company/Product Information e·Opt Solutions brings over 50 man-years of experience in the Energy and Technology domains. Their products and services reflect their deep understanding of the business and grasp of technology. They have confined their operations to the Energy Trading and Portfolio Management domain, as they believe that they can best serve theircustomers by focusing on areas they know best and where they can make a difference. While their products are available for deployment in the conventional enterprise roll out model, their strategy is to provide functionality as a Service to the energy market. e·PaaS – PriceHub as a Service – blends state-of-art technology components with their deep knowledge of the energy trading and risk management domain to deliver functionality at the user’s doorstep without the hassle of managing complex applications within the enterprise. Furthermore, this ensures that

energy market players do not need to have skilled IT manpower on the floor. PriceHub has been designed as an integrated set of software tools that complements conventional ETRM systems and adds to the competitiveness of your trading operations. PriceHub is available for deployment in 2




modes: PriceHub Classic Mode (Enterprise Deployment): Application components are physically installed in the client’s application landscape and maintained by client’s IT team and PriceHub as a Service Mode – PaaS The various modules within the PriceHub suite are: e·Curve: This is a highly optimized Forward Curve engine, that allows just-in-time generation of hourly Forward Curves. e·Price: In order to provide users with a Transparent and Rule based energy pricing platform, e-Opt developed this module. It brings a unique Risk based pricing methodology, and also assists the Portfolio Manager in evaluating the optimal instruments to hedge the risk with. e·VaR: Energy Trading companies, particularly those active in power, have always struggled to report the true risk, on their portfolio. The reasons stem from the nature of the commodities as well as the business rules. With e·VaR and its constituent sub-modules e·IVaR and e·Stress, E-Opt have tried to address some of these issues. They collectively provide an end-to-end Risk Valuation framework for Energy companies, and have been specifically designed for portfolios that include complex instruments. e·Pool: With this E-Opt have addressed a long-standing need for a robust and efficient Market

Price Data Management System, that offers all the functionality that is needed in an energy trading environment, yet at the same time retains an optimal footprint, for rapid response to external or internal changes. e·Pool has a ready library of more than a hundred pre-configured data curves and can handle all types of data formats for upload. e·Link: This is e-Opt’s Market Integration module, which allows seamless integration of popular Broker/Trading Platforms based on the Trayport or ICE engines, with the client's Trading Systems. e·Report: This is a flexible BI tool useful for complex business rule based Reporting. It allows user based Report definitions and scheduling. Main Office Storchenstrasse 24 68259 Mannheim Germany Tel : +49 (0621) 728 7123 Representative Clients Eneco Energy Trade BV RheinEnergie AG Syneco Trading GmbH

Website www.eopt.org

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iOpt IRM (An OpenLink Company) IRM Integriertes Ressourcen Management GmbH Wienerbergstr. 31-39 A-1120 Vienna


Company/Product Information IRM's system solutions are specifically tailored to the requirements of deregulated and emerging markets and support the operative business as well as strategic planning - the experiences of our customers combined with the extensive know-how of our employees continually flow into further developments. From structured procurement management (forecast, energy disposition, from simple registration and handling of an increasing number of procurement flows including schedule and balancing group management) to energy trading with portfolio/risk management (including complex risk and optimization functionalities) in the multi-commodity environment as well as in investment analysis and planning and sales trading. IRM is a leading software provider for system solutions in the energy sector (electricity, gas, district heating, certificates, oil and coal). The company, which was founded in 1998 in Vienna,

has more than 125 employees and more than 60 references in numerous countries. iOPT is an integrated system solution for the energy industry which is used in deregulated as well as in emerging markets. It focuses on the markets for electricity, gas, oil, coal, certificates, foreign exchange, and agriculture / soft commodities.




The modular structure allows iOPT to be implemented either as a complete solution or in individual subsystems. Due to this flexible approach, iOPT can be used by companies of all sizes—from energy producers, industrial corporations to public services. The iOPT Suite includes iOPT_COMMONS, iOPT_PRO, iOPT_OPT and iOPT_TRADE as well as iOPT_SALES. iOPT_COMMONS - the business connector is the basis on which all business process fundamentals are parameterized including process automation, flexible time series management and formula management, etc. Companies trading in energy or producing/converting energy can use iOPT_OPT’s optimization models to maximize revenues and minimize costs. iOPT's OPTIMIZATION SCENARIO MANAGEMENT (OSM) offers an integrated system framework to handle several scenarios of input data. The iOPT_PRO forecasting application enables the estimation of developments of load, price and inflow.

iOPT_TRADE - the trading and portfoliomanagement system - supports all procurement management requirements for front-, middle-, and backoffice. iOPT_SALES provides optimal support for wholesale distribution and the handling of complex multi-commodity requests. Main Office IRM Integriertes Ressourcen Management GmbH Wienerbergstr. 31-39 A-1120 Vienna +43 1 811 30 – 400 Representative Clients AXPO CURRENTA Eni Power RheinEnergie Trading GmbH Shell Energy Website http://www.irm.at/en/index.php

http://ctrmblog.com/forwards/sourcebook/irm.php





Quantitative Energy Models KYOS Energy Nieuwe Gracht 49 2011 ND Haarlem The Netherlands


Company/Product Information KYOS provides quantitative models for energy and commodity markets. KYOS solutions can be used as stand-alone application, integrated with other (internal) systems or accessed as online application on www.kyosonline.com. KYOS offers specialized quantitative models for risk management and valuation in energy markets. Their product range includes KyCurve (forward curve builder), KyStore (storage valuation), KyPlant (power plant valuation), KySim (price simulation model) and KySwing (value of contracts with embedded flexibility). KySim Monte Carlo price simulations form a central part of KYOS solutions. Therefore KYOS developed KySim. KySim produces Monte Carlo simulations of forward and spot prices in commodity and FX markets. KySim contains a set of advanced models to capture the primary dynamics of prices in terms of volatilities, correlations and spread dynamics. It contains a combination of statistical and fundamental elements, such as the innovative concept of co-integration. Their customers use it

for power, gas, oil, coal, CO2, metals, freight rates and more. The incorporation of fundamental price relations through co-integration ensures that spreads remain also on longer term valuations within economically reasonable bounds. KyStore KyStore is developed to value gas storage facilities and gas storage contracts. It identifies storage value, optimal trading decisions, exposures and




hedging strategies. KyStore is based on advanced Monte Carlo simulation techniques. Optimal trading and operating decisions are calculated by applying Least Squares Monte Carlo techniques. KyStore includes typical storage constraints, like time and inventory dependent injection and withdrawal rates and time dependent minimum and maximum inventory levels. The volatility term structure and other simulation inputs are easily derived from historical data with the accompanying calibration tool. KySwing Swing options are typical components of gas contracts, but can also be part of power and coal contracts. They offer the opportunity to vary the contracted volume at a fixed or indexed price, albeit under a number of restrictions. They are also known as Take-or-Pay, interruptible and variable load contracts. KySwing calculates the value and optimal exercise of these contracts. KySwing incorporates typical swing elements, like periodic volume constraints (e.g. annual contract quantity, daily contract quantity), exercise based on fixed or indexed price (with specific time lags and multiple currencies) and penalties. KyPlant KyPlant is developed for valuation of both physical and virtual power plants. The real options-based model combines actual plant behavior with realistic price simulations. The model quickly identifies plant value, supports trading decisions and reports exposures. KyPlant incorporates the most important physical and contractual plant constraints: operational constraints, costs elements, start curves, maintenance & outages,

take-or-pay contracts, heat supply en the impact of aging on ambient temperature on plant performance. KyCurve Market prices are typically available for only a limited set of standardized products, such as base/peak and months/ quarters/seasons/years. Based on these market quotes, KyCurve produces a daily or hourly forward curve up to several years into the future for power and gas prices. It initially generates an hourly price forecast by optimally using market fundamentals and historical price patterns. Then, the forecast is rescaled to match currently available market prices. Customers The products of KYOS are used by leading utilities, gas companies, traders, and power producers. Applications can be used as stand-alone solutions, but are also offered as online application on www.kyosonline.com. Main Office KYOS Energy Consulting B.V. Nieuwe Gracht 49 2011 ND Haarlem The Netherlands Tel: +31 (0)23 551 02 21 Representative Clients Not Provided Website http://www.kyos.com

http://ctrmblog.com/forwards/sourcebook/kyos.php

http://ctrmblog.com/forwards/sourcebook/kyos.php





Lacima Analytics Lacima Group 1 Berkeley Street London W1J 8DJ UK


Company/Product Information Lacima Group is a specialist provider of software and advisory services dedicated to valuation, optimisation and risk management for global energy markets. Its solutions help organisations to maximise their profit potential and make more informed decisions with tools that yield more accurate valuations, hedging analysis and risk exposure analysis for portfolios of financial contracts and physical assets. Lacima Group’s flagship application “Lacima Analytics” is dedicated to valuation, optimisation and risk management for global energy markets. It handles the full range of simple to sophisticated models and asset types.

The application has been designed to address the needs of clients who are interested in only a small subset of functionality (for example swing contracts or gas storage valuations), to a full risk application capable of interfacing with multiple ETRM systems.

It offers the clients the ability to select an individual solution, a full suite or any combination to fit their specific needs.

Furthermore, its flexible open framework architecture supports existing skilled in-house teams by enabling clients to easily incorporate their own internally developed intellectual property.

Key benefits:

• Comprehensive functionality for risk management, valuation and optimisation in a single application




• Modular configuration to pick and choose functionality tailored to your specific needs

• Works seamlessly with ETRM and other key operational systems

• Flexible database structure enables changes to input data and hence quick updates to results

• Quick and cost effective implementation - no need to replace any existing deal capture systems

• Developed and implemented by peer recognised experts in energy analytics

• Full transparency on risk models, algorithms and valuation methodologies provided

• Fully auditable for regulatory compliance • Scalable to adapt to evolving business

needs • Unparalleled level of personalised support

Lacima Analytics comprises three core functionality suites:

Valuation and Optimisation Suite Structure, value and hedge portfolios that include standard financial contracts as well as swing, storage, pipeline and generation assets, taking into account their operational flexibility and wide-ranging constraints, with the ability to jointly optimize financial contracts and physical assets.

Risk Management Suite Calculate and report a comprehensive range of portfolio risk metrics, taking into consideration the unique behavior of energy prices, the complexities of financial hedge contracts as well as the operational constraints of physical assets. The Risk Suite offers all the key value and cashflow market and credit-based metrics available, including: mark-to-market, delta value-at-risk, historic simulation value-at-risk, monte-carlo value-at-risk, potential future exposure, revenue-at-risk, earnings-at-risk, and cashflow-at-risk.

Portfolio Management Suite Combine complex portfolios of physical assets and financial contracts to enhance value and profit potential. The Portfolio Management Suite offers solutions for portfolio hedge optimisation, gas network optimisation, hydro dispatch, hybrid modeling and cargo shipping. Main Office 1 Berkeley Street London W1J 8DJ UK Tel. +44 (0)20 340 22173

Other Locations Houston - Tel. +1 713 353 3949 Sydney - Tel. +61 (2) 9275 8818

Representative Clients

• AGL • Alinta • Capital Power • Centrica • Gazprom • Loy Yang Marketing • Macquarie Bank • Macquarie Generation • National Grid • RWE • SNCF • Stanwell

Website http://www.lacimagroup.com

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LIM Data Management Solution LIM (A Morningstar Company) 22 West Washington Street Chicago, IL 60602 United States of America


Company/Product Information LIM, a Morningstar company is a leading provider of data, analytics and research, using patented technology and data management solutions to provide its customers with actionable information primarily in the energy, commodities and financial sectors. LIM’s clients are among the world's largest energy concerns, utilities, hedge funds, mutual funds, and banks. LIM offers a world-class data warehouse which gathers and distributes data from over 200 different feeds in the power, oil, gas, commodities, equities, futures and weather markets. Sources include all the major exchanges, the electricity system operators (ISOs), price providers, major commodity brokers, weather vendors, and other key data services. In addition to gathering, processing, checking, and distributing more than 500 million data records every month, LIM provides data management tools that quickly store and serve up the data. LIM delivers a comprehensive, near-real time

solution for data management. The patented time-series database enables fast data storage and retrieval. LIM provides daily, intraday and tick data values from over 200 sources available in a centralized location. Data is accessed through a wide array of applications and APIs. LIM Process Management tools provide customized solutions for QA testing. LIM’s extensive QA checks and processes are applied




to client data sets and databases of curves. LIM integrates with trading and risk systems to generate detailed summary, threshold and calculation reports. LIM’s Process Management products offer monitoring capabilities for data usage and entitlements. LIM Data Access solutions allow clients to quickly publish and pull data into local systems. The Web Services platform and the LIM Add-In for Microsoft Excel are optimized for large data uploads and provide clients the ability to load custom format data. The API offerings include Java, .Net, C/C++ and Web Services. LIM Analytical Product Suite utilizes LIM’s proprietary near-English query language to provide clients with market insights and correlations. Investment professionals and analysts use the research tools to identify opportunities, back-test strategies and forecast the markets.

Main Office

22 West Washington Street Chicago, IL 60602 United States of America Tel: +1 (312) 244-7170

Other Locations

United Kingdom - +44 20 3194 1450 Austin, TX - +1 512 697 3000

Representative Clients

British Petroleum Conoco Phillips Bank of America Credit Suisse

Website

http://www.lim.com

http://ctrmblog.com/forwards/sourcebook/lim.php

http://ctrmblog.com/forwards/sourcebook/lim.php





VaRManager Macro Enterprises Ltd. 715 Cranfield Ct. Katy, Texas 77450


Company/Product Information Value-At-Risk (VaR) is a number used to help manage risk in a portfolio. The math is established and proven and used commonly on nearly every trade floor. This is just one number. With VaRManager, the VaR number has backup. Using the proven math library of Financial Engineering Associates (FEA), VaRManager produces VaR across up to 12 user-defined categories such as commodity/trader/region. With VarManager, you can expect the following features included among many others in a robust tool:

• Searchable Transaction and Historical Price Databases.

• Security provided through password protection and customized access.

• Extensive on-screen menus, pull-down

lists and selection buttons.

• File import capability for historical price and transaction data.

• Monte Carlo and Analytic VaR

calculations controlled from a single screen.

VaRManager stores results into a SQL database. This allows for extensive reporting and analysis such that user-based




Business Intelligence is possible. The data is open for access to other users where appropriate security access has been granted. VaRManager has the ability to schedule VaR calculations and batch process VaR runs. This means that not only will you get the VaR number, you will be able to regularly run your scenarios and stress tests without having to be in front of the computer.

Main Office 715 Cranfield Ct. Katy, Texas 77450 Tel: + 1 713 827-7273 Website www.VaRManager.com

http://ctrmblog.com/forwards/sourcebook/varmanager.php





POMAX Curve Manager Navita P.O. Box 154, NO-1751 Halden, Norway


Company/Product Information Navita and its POMAX software have their origins in the creation of NordPool in 1988 and the Institutt for Energiteknikk (IFE) in Halden, Norway. POMAX is a multi-commodity solution and supports trading in electric power, gas, crude oil, coal, emissions, freight, weather derivatives, interest rates, currencies and equities. There are more than 100 POMAX installations in Europe, North America, Australia and Asia. Energy producers, energy consumers, trading houses, banks, hedge funds, and shipping companies all over the world use POMAX. Navita has an extensive network of implementation and solution partners. Navita is a Microsoft Gold Certified Partner, Oracle Solution Partner and ThomsonReuters Solution Provider. POMAX is a CTRM solution covering a number of commodities including; electric power, natural gas, freight, carbon, metals, oil, coal and agricultural commodities from front to back office. POMAX is highly automated and can be customized to meet any content requirements. However, much of the system functionality is delivered right out-of-the-box. POMAX includes the following functionalities;

• Trading – Deal Capture, position keeping, market prices/volatility and time series data. It has two modes of deal capture for ‘standard’ trades and complex structured trades.

• Risk Management – POMAX’S Risk Management capability is powered by a Monte Carlo engine. It can be used as part of POMAX, as a stand-alone solution, or as an extension for legacy trading systems. It provides management of:




o Market Risk, quantifying VaR, CFaR and EaR using Monte Carlo simulation, stress testing and market limit monitoring

o Credit Risk, validating automatic credit exposure vs. limits, collateral management and credit rating schemas/thresholds.

o Operational Risk, automating straight-through processing, deal/price and other ops limits.

• Portfolio Management – designed to provide mid-office managers useful views of portfolio data.

• Power Logistics – POMAX supports configuration of all bid, contract and counterparty templates, automatically performs sales and production balancing, estimates aggregated retail and extracts the data and performs all calculations needed to send notifications.

• Gas Logistics – handles all the standard functions for balancing, nominating and allocating natural gas in Europe.

• Electronic Data Management – automated collection of meter data and its use in shadow settlements

• Market Data Analysis – via Curve Manager and/or NETA DSS

POMAX is built using Microsoft tools on Oracle database and .NET architecture Pomax Curve Manager is a highly functional system for the collection, manipulation, analysis and presentation of curve data be it market prices or internal time series data. It can be broadly split into two areas of functionality - Server and Client. The Server is responsible for the scheduling and importing of market data and also the management of all derived curves. The client is responsible for the manipulation and presentation of time series data.

Analysis - Curve manager has defined a large set of statistical and Financial analysis formulae. All of these analysis formulae can be applied and modified on each of the charts. Curve Manager will also remember the settings and store them in the database so that the next time the basket/chart is used all formulae are applied to any new data. In addition the Curve Manager client has a formula builder that can be used to build derived curves. In addition all derived curves can be scheduled to be recreated by the scheduler as and when new data is imported into the system. Curve Manager also ships with a collection of excel tools for modeling data in excel through a GUI as well as a range of Excel formulae. There is also an API available for integration with other systems. Main Office P.O. Box 154, NO-1751 Halden, Norway (Visiting address: Storgt 7, Halden) +47 69 70 96 00 Other Locations Oslo: +47 69 70 96 00 London: +44 207 469 2530 Edinburgh: +44 131 226 5566 Frankfurt: +49 (0) 69 7593 7135 Pasadena: +1 626 535 9868 Houston: +1 713 513 7182 Mississauga: (905) 361-9838

Representative Clients None provided. Website http://www.navita.com

http://ctrmblog.com/forwards/sourcebook/navita.php





POMAX EDM Navita P.O. Box 154, NO-1751 Halden, Norway


Company/Product Information Navita and its POMAX software have their origins in the creation of NordPool in 1988 and the Institutt for Energiteknikk (IFE) in Halden, Norway. POMAX is a multi-commodity solution and supports trading in electric power, gas, crude oil, coal, emissions, freight, weather derivatives, interest rates, currencies and equities. There are more than 100 POMAX installations in Europe, North America, Australia and Asia. Energy producers, energy consumers, trading houses, banks, hedge funds, and shipping companies all over the world use POMAX. Navita has an extensive network of implementation and solution partners. Navita is a Microsoft Gold Certified Partner, Oracle Solution Partner and ThomsonReuters Solution Provider. POMAX is a CTRM solution covering a number of commodities including; electric power, natural gas, freight, carbon, metals, oil, coal and agricultural commodities from front to back office. POMAX is highly automated and can be customized to meet any content requirements. However, much of the

system functionality is delivered right out-of-the-box. POMAX includes the following functionalities;





• Risk Management – POMAX’S Risk Management capability is powered by a Monte Carlo engine. It can be used as part of POMAX, as a stand-alone solution, or as an extension for legacy trading systems. It provides management of: o Market Risk, quantifying VaR, CFaR and

EaR using Monte Carlo simulation, stress testing and market limit monitoring








POMAX is built using Microsoft tools on Oracle database and .NET architecture The POMAX EDM solution supports physical trade nominations towards Nord Pool and balance management towards the various system operators. This includes contract management, short-term balance management, data management, time series management, settlement management, invoicing and message handling. Main Office P.O. Box 154, NO-1751 Halden, Norway (Visiting address: Storgt 7, Halden) +47 69 70 96 00 Other Locations Oslo: +47 69 70 96 00 London: +44 207 469 2530 Edinburgh: +44 131 226 5566 Frankfurt: +49 (0) 69 7593 7135 Pasadena: +1 626 535 9868 Houston: +1 713 513 7182 Mississauga: (905) 361-9838








POMAX PENS Navita P.O. Box 154, NO-1751 Halden, Norway


Company/Product Information Navita and its POMAX software have their origins in the creation of NordPool in 1988 and the Institutt for Energiteknikk (IFE) in Halden, Norway. POMAX is a multi-commodity solution and supports trading in electric power, gas, crude oil, coal, emissions, freight, weather derivatives, interest rates, currencies and equities. There are more than 100 POMAX installations in Europe, North America, Australia and Asia. Energy producers, energy consumers, trading houses, banks, hedge funds, and shipping companies all over the world use POMAX. Navita has an extensive network of implementation and solution partners. Navita is a Microsoft Gold Certified Partner, Oracle Solution Partner and ThomsonReuters Solution Provider. POMAX is a CTRM solution covering a number of commodities including; electric power, natural gas, freight, carbon, metals, oil, coal and agricultural commodities from front to back office. POMAX is highly automated and can be customized to meet any content requirements. However, much of the system functionality is delivered right out-of-the-box. POMAX includes the following functionalities;


• Risk Management – POMAX’S Risk Management capability is powered by a Monte Carlo engine. It can be used as part of POMAX, as a stand-alone solution, or as an extension for legacy trading systems. It provides management of:




o Market Risk, quantifying VaR, CFaR and EaR using Monte Carlo simulation, stress testing and market limit monitoring








POMAX is built using Microsoft tools on Oracle database and .NET architecture

POMAX Pan European Notification System (PENS) is a Power Scheduling system designed to meet following requirements:

• Support of the entire Power Scheduling life-cycle providing error and mis-notification analysis tools

• Interface to any TRM Application • Provide ‘From anywhere to everywhere’

scheduling capability • Automatic cross-checking of Contract & Inter-

Grid positions • Facilitates closing-out of open positions

Manage the communication & acknowledgement process using a consistent User Interface

• Maintain reference data using a single interface (Capacity Contracts, Scheduling Codes, IT configuration)

• Modular architecture based on Oracle database

• Hide IT technical details from business users e.g. communication protocols (email, ftp, web services), format of messages (XML, EDINE, etc.)

• Ability to extract raw messages (e.g. EDINE, ESS XML) and send directly to a Grid Operator; Full Audit report - all operations are logged to database with time-stamp, username, machine name.

Current Interfaces: Germany (Amprion, TransPower, EnBW, 50Hz Trans) France (RTE) Belgium (ELIA) Austria (APCS, APG) Luxembourg (Cegedel) Netherlands (TenneT);Switzerland (SwissGrid), Czech (OTE) and Slovakia (ISZO) ;Hungary (MAVIR)

Main Office P.O. Box 154, NO-1751 Halden, Norway (Visiting address: Storgt 7, Halden) +47 69 70 96 00 Other Locations Oslo: +47 69 70 96 00 London: +44 207 469 2530 Edinburgh: +44 131 226 5566 Frankfurt: +49 (0) 69 7593 7135 Pasadena: +1 626 535 9868 Houston: +1 713 513 7182 Mississauga: (905) 361-9838







NRGSTREAM Trader NRGSTREAM Suite 700, 926 5th Avenue S.W. Calgary, Alberta, T2P 0N7


Company/Product Information TYMEWARE / NRGSTREAM was founded in 1998 by Todd Young and a like minded group of analysts and developers. Their primary goal was to develop solutions to deliver the vast array of data that Power traders needed into a useable interface. They realized that by focusing on their customers’ requirements, they could build and deliver products that far surpassed the scope and quality of in-house solutions. As such, NrgStream developed systems to turn hundreds of documents published on the internet into clean, normalized data streams. All in real-time. Although they were slightly ahead of our time, NrgStream were well received in Alberta at the advent of electricity de-regulation. Because of the generic nature of our technology, they quickly grew the scope of their coverage as

wholesale electricity markets throughout North America became de-regulated. Today, they believe that they have the largest and most detailed database of energy fundamentals in North America.




As markets continue to evolve and input from their customer base grows, they evolve with them. NrgStream’s leading edge solutions are leveraged by many of the largest banks, utilities and energy companies in the world. NrgStream continues to follow their vision that access to energy information should not be complicated or time consuming. Energy analysts and traders that need to access and activate vast amounts of market information count on NRGSTREAM Trader to get the job done. Their customers leverage the power of NRGSTREAM Trader to gain their competitive advantage through immediate, accurate and reliable data services and analytics. NrgStream have been offering their Trader service for over nine years with in excess of 90% customer retention. Over this time, they have experienced the dot com bust and the energy trading meltdown, but their customers have remained very loyal. Key Features

• Dynamic customized charting data with push technology, fully interactive ranging, settings and data exposure

• Advanced data analysis features with

views for peak and off-peak, hours strips and different time intervals

• Instant min/max and rate of change alerts on any stream sent with delivery to audio and visual pop-ups or any internet destination

• Advanced data manipulation with

customized spreads, ratios and aggregate representations

• Scheduled and on-demand data extract

capabilities to your local database

• Instant access to our entire portfolio of energy information

Main Office Suite 700, 926 5th Avenue S.W. Calgary, Alberta, T2P 0N7 Tel: +1 403-276-1398 Representative Clients None Specified Website http://www.nrgstream.com

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webRisk OATI 2300 Berkshire Lane North Minneapolis, MN 55418 USA


Company/Product Information OATI has been providing system critical and trade-related solutions to the energy industry for more than fifteen years. OATI is currently one of the leading software providers to the energy industry with more than 750 customers across numerous functional areas and throughout North America. OATI continues to provide innovative solutions to the energy industry to meet challenges in energy scheduling, trading, risk management, transmission and congestion management, Smart Grid, and compliance monitoring. OATI webTrader, webRisk, and webSettlementPro comprise the OATI CTRM solution which provides a complete and integrated commodity trading and risk management solution. It offers a single point of entry for data and fully integrated interfaces to support the transaction management process for energy markets, including strategy

assessment, e-Tagging, scheduling, OASIS management, deal management, mid-office confirmations, risk analytics, credit analysis, market settlements, hedge effectiveness, and reporting.




webRisk, the OATI Risk Solution is a fully integrated market and credit risk system built on a common platform that approaches risk from an energy perspective. webRisk offers a price mean reverting model with a seasonality function while using actual forward market quotes to build accurate energy based forward price curves. This cutting edge forward curve builder is the key to accurate mark-to-market functionality that is utilized for market and credit risk reporting. The system will support a wide variety of user defined time buckets, including daily, weekly, monthly, quarterly, and annual time buckets. System users will receive real time limit warnings from the market and credit risk monitoring system which will provide increase response for violations and greater system transparency. The Credit Risk functionality is designed to provide tools that facilitate the daily tasks of credit managers and analysts on the trading floor from establishing credit limits to calculating credit exposures. webRisk also provides the calculation of potential future exposure combine with current exposure which gives credit professionals a total picture of the counterparties credit exposure.

webRisk Enterprise Risk Assessment module provides earnings-at-risk and cash-flow-at-risk calculations for trading, asset and structured product portfolios and by combing the portfolios to yield enterprise wide view.

Main Office 2300 Berkshire Lane North Minneapolis, MN 55418 Phone: +1.763.201.2000 Representative Clients None provided. Website http://www.oati.com

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webSettlementPro OATI 2300 Berkshire Lane North Minneapolis, MN 55418 USA


Company/Product Information OATI has been providing system critical and trade-related solutions to the energy industry for more than fifteen years. OATI is currently one of the leading software providers to the energy industry with more than 750 customers across numerous functional areas and throughout North America. OATI continues to provide innovative solutions to the energy industry to meet challenges in energy scheduling, trading, risk management, transmission and congestion management, Smart Grid, and compliance monitoring. OATI webTrader, webRisk, and webSettlementPro comprise the OATI CTRM solution which provides a complete and integrated commodity trading and risk management solution. It offers a single point of entry for data and fully integrated interfaces to support the transaction management process

for energy markets, including strategy assessment, e-Tagging, scheduling, OASIS management, deal management, mid-office confirmations, risk analytics, credit analysis, market settlements, hedge effectiveness, and reporting.




OATI webSettlementsPro transforms traditional ISO/RTO settlement capabilities to address the needs of real time settlements and profit and loss information. This system provides multi-version shadow settlements to support the accounting and audit requirements to meet the multiple settlement periods of each of the markets. The system calculates/estimates missing or after the fact market charges and allocates charges to individual transactions, trader and trading book. This functionality provides trading operations with real time P&L and shadow settlement information. This solution is fully integrated with webTrader and supports settlements in all of the North American Markets.







webTrader OATI 2300 Berkshire Lane North Minneapolis, MN 55418 USA


Company/Product Information OATI has been providing system critical and trade-related solutions to the energy industry for more than fifteen years. OATI is currently one of the leading software providers to the energy industry with more than 750 customers across numerous functional areas and throughout North America. OATI continues to provide innovative solutions to the energy industry to meet challenges in energy scheduling, trading, risk management, transmission and congestion management, Smart Grid, and compliance monitoring. OATI webTrader, webRisk, and webSettlementPro comprise the OATI CTRM solution which provides a complete and integrated commodity trading and risk management solution. It offers a single point of entry for data and fully integrated interfaces to support the transaction management process for energy markets, including strategy

assessment, e-Tagging, scheduling, OASIS management, deal management, mid-office confirmations, risk analytics, credit analysis, market settlements, hedge effectiveness, and reporting. The solution provides trading in RTO/ISO markets, financial markets and EDI connectivity




to gas pipelines. The CTRM solution maintains Real-Time positions via reports and displays, as well as back-office settlements for both counterparty settlements, RTO/ISO, ICE, and Gas Settlements. OATI solutions have a complete audit trail that captures user entries within the system. OATI webTrader provides reporting capabilities for all aspects of the CTRM solution, including risk, scheduling, accounting, checkouts, and user configurable reports. OATI webTrader is a NAESB-compliant system that manages the operations of gas transportation and trading operations. The solution also supports gas pools and storage, and includes configurable rate matrixes. The solution provides a real-time assessment of physical and financial positions, as well as generation of invoices and remittance letters electronically that can be sent directly to counterparties from the system.








Endur OpenLink 1502 RXR Plaza 15th Floor West Tower Uniondale, NY 11556-1502


Company/Product Information Founded in 1992, OpenLink is a provider of cross-asset trading, risk management, related operations processing and portfolio management software solutions for the commodity, energy and financial services markets globally. OpenLink's client base of more than 350+ customers worldwide includes 12 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities. Headquartered on Long Island, New York and with offices in New York City, Houston, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 1,000 employees worldwide. Endur is the primary product line that covers both the Energy and Commodity trading and risk management areas. The Endur product line provides a robust, full featured integrated end-to-end solution for companies engaged in financial and physical trading, and physical movement and management of commodities. Endur’s cross-asset

coverage supports a range of markets including: Electricity, Natural Gas & Natural Gas Liquids (NGLs), Crude Oil, Refined Products, Coal, Emissions, Precious/Base Metals, Agricultural, Pulp and Paper, Soft Commodities and Weather. Endur also supports the composition hybrid commodity-energy-finance products via its Hybrid Toolset. Although the primary usage of Endur is related to physical and financial commodities, Endur also natively supports financial products from other asset classes, including rates, currencies, credit, equities, and fixed income. Most




Endur clients are using some portion of these asset classes, and it significantly enhances the value proposition by having the option to use these natively, without the need for costly integration projects and separate systems. . Endur is a scripted application and some of the features of the solution include: Front Office – Supports deal capture and includes Prospective Analysis which simulates trades to better view positions in the marketplace, manage contracts and report the full range of risk and positions from execution through closing, Custom Calculations allowing users to script their own custom risk calculations so that can become fully embedded into all functionalities of the system and Curve Building, which allows users to build their own pricing curves and set up defaults without restrictions. Middle Office – Allows users to base risk evaluations, including VaR, on full valuations. Computations are performed at the instrument level capturing all market-specific and structuring related activities enabling accurate calculation of exposures, sensitivities, and “what if” risks analytics. Back Office - Offers full security and audit ability to what has changed, when, and why. One database enables drill-downs from anywhere in the system. Real-time cash management, exception and rule-based processing, interest rate fixing, sub-ledger posting and messaging with open interaction to external and internal systems. Logistics – OpenLink offers pMotion for power, gMotion for natural gas, and cMotion for bulk commodities as embedded options products.

All "Motion" applications deliver logistics environments developed to meet current and future market Main Office 1502 RXR Plaza 15th Floor West Tower Uniondale, NY 11556-1502 Phone: +1 516 227 6600 Other Locations New York: 1 212 641 8787 Houston: 1 713 655 9600 London: 44 20 7330 8100 Berlin: 49 30 2233 1150 Vienna: 43 1 811 30-0 Singapore: 65 6593 0800 Sydney: 61 2 9229 8300 Sao Paulo: 55 11 3085 8500 Moscow 7 (495) 644 0941 Toronto +800 361 2114 Representative Clients Apache Apache Austin Energy Credit Agricole Centrica Energy Transfer Hess Shell Statoil Petrobras Website www.OpenLink.com

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QT Plus QT Information Systems 141 W. Jackson Blvd., Suite 1255A Chicago, IL 60604


Company/Product Information QT Information Systems offers sophisticated quote and charting platforms complete with all the tools necessary to accommodate the active trader. Get real-time quotes, premium commodity news, government reports, and advanced charting capabilities with multiple tools and studies. Find exclusive features like Futuresline, the commodity market squawk box; QT Weather, a market-related stream of weather information; and LaSalle Street News, a market-centric newsfeed from experts in the know—all available on your quote platform. With QT’s intuitive navigation and sleek design, our platforms bring you the best product for the best possible price. Since it launched its first quote and charting platform in 2003, QT Information Systems has evolved into a one-stop source for commodity information, providing everything from quotes and government reports to weather updates,

market analysis, radio commentary, and mass calling services. Offering a database of news, analysis and statistics, QT services large corporations and Fortune 500 companies at home and abroad. Located in the 12th floor atrium of the Chicago Board of Trade, QT is in constant contact with numerous sources in exchanges and trading




floors across the country and around the world. Working with a diversified network of seasoned analysts and market experts, we are able to collect the most current and accurate information in the marketplace and deliver it directly to your PC.

Main Office 141 W. Jackson Blvd., Suite 1255A Chicago, IL 60604 Tel - 1.800.240.8761 Representative Clients None provided

Website http://www.qtinfo.com

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QuantFACTORY 5.2 Quanthouse 1350 Ave of the Americas, 2nd FL New York, NY 10019 Tel: +1(646) 837 8773


C ompany/Product Information QuantHouse is an independent global provider of low-latency trading solutions. These include ultralow-latency market data technologies, an automated trading platform, trading infrastructure and order routing services to help hedge funds, proprietary desks and low-latency-sensitive sell side firms to take the lead. With more than 14 international hosting facilities within or near more than 45 exchanges all interconnected by our proprietary fiber optic network, QuantHouse clients benefit from a leading global trading infrastructure for ultimate results. QuantFEED, Ultra Low Latency Market Data technologies. QuantFACTORY, Automated Trading Platform. QuantLINK, Global Trading Infrastructures. QuantFACTORY, QuantHouse’s automated trading platform, is an Integrated Development Environment (IDE) designed to help significantly

optimize each step of your automated trading development cycle. The framework’s openness and industry standard language utilization enables energy traders, researchers and developers focus on business development and quickly develop and deploy algorithmic strategies.




QuantFACTORY is a suite of products, designed to efficiently handle the different phases of the trading strategy discovery process, from data capture to strategy development, back testing and trading. Its foundation layer, QuantFRAMEWORK, provides a powerful Application Programming Interface (API) to build computerized quantitative trading systems. With its plug-in architecture, QuantFACTORY can communicate with any market data providers and any brokers. New plug-ins can easily be written to connect to new providers. We also supply market data from different commodities Exchanges such as CBOT, CME, NYMEX, LIFFE, ICE. QuantHouses’s platform can be connected to Trading Gateways for instance Trayport platform.

Main Office 1350 Ave of the Americas, 2nd FL New York, NY 10019 Tel: +1(646) 837 8773

Other offices Chicago - Tel: +1 (312) 258 2518 London - Tel: +44 (0) 207 947 4330 Paris - Tel: +33 (0) 1 73 02 32 11 Representative Clients None provided.

Website http://www.quanthouse.com

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ActivePivot 4.1 Quartet Financial Systems Ltd. 43 Eagle Street London WC1R 4AT, UK


Company/Product Information

Quartet Financial Systems (QuartetFS) was founded in response to demand from industries with complex business models and a need to make timely decisions. Their real-time BI and CEP component solutions cross many disciplines, all of which demand accurate information for real-time analysis and decision making. This includes risk management, e-commerce, retail and logistics. QuartetFS ActivePivot allows users to view their risk and profit and loss data in the way they want, while enjoying Real-Time / Push technology that provides constant updates of new / amended trades and market data updates. Our effective SOA component fits easily within an organisations existing architecture and integrates multiple data sources quickly and easily (for example from systems like OpenLink's Endur, TriplePoint, Allegro and others).

ActivePivot connects with data at its source and not via a warehouse, allowing instant analysis and the ability to view positions, risk, P&L immediately across any number of dimensions, utilising the latest real-time push technology.




This means that timely decision-making can be achieved as information is always up to date. As an OLAP server, its hypercubes, with hierarchical dimensions, allow for flexible top down analysis that can be sliced through with simple navigation. Its in-memory indexing provides drill-through capabilities to reconcile aggregated values for any cell. ActivePivot is developed with the OLAP standard Multidimensional Expressions (MDX) connectivity (language) letting business users see continuous real-time updates throughout the day presented through the interface of their choice.

Main Office Quartet Financial Systems Ltd. 43 Eagle Street London WC1R 4AT, UK Tel: +44 (0)20 7632 6910 Fax: +44 (0)20 7831 7700

Other Locations Paris: - Tel: Tel: +33 1 40 13 91 00 New York: - Tel: Tel: +1 646 688 4442 Singapore: Tel: Tel: +65 62 24 46 63 Representative Clients None Provided Website http://www.quartetfs.com/index.php



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SmartCo DataHub SmartCo 37 rue de Liège 75008 Paris, France


Company/Product Information Since 2004, SmartCo have been helping major banks, asset managers, securities services providers and other financial institutions, of all sizes, to improve their internal processes by providing them with state-of-the-art software solutions for optimized data management.

A fast growing and dynamic company, SmartCo combines a high level of expertise, with a deep knowledge of the capital markets activity, plus a unique mastering of the latest data management and development technologies and methodologies.

Innovation is their motto.

In addition to the centralization of business data and the ability to fully cover the data management needs for financial institutions, SmartCo DataHub allows new business architectures to be rolled out, letting the information system evolve, and improving the time-to-market to implement new business lines.

SmartCo DataHub is a best-of-breed enterprise data management solution covering all the data area, including financial vehicles, market data, corporate actions, indexes and benchmarks, third parties, funds and mandates, financial analysis, risk data, etc., as well as operational data for positions and transactions. Its innovative and scalable technology accelerates




the design, deployment and continuous enrichment of durable, upgradeable solutions, and empowers users to collect, model, consolidate and enrich data, to analyse and distribute the whole data universe, to optimize data quality, data administration workflows, risk and data governance, and to improve the efficiency of the whole information system. SmartCo DataHub provides a wide and powerful set of connectivity and features, and is extremely customizable, up to enable users to implement their custom models and tools, and even applications. With its cutting-edge solution and technology, SmartCo has been selected and recognized by large financial institutions as a strategic solution to manage and reduce their risks, optimize their processes, meet regulatory expectations, accelerate the delivery of new products, and better operate and serve their clients.

Main Office SmartCo 37 rue de Liège 75008 Paris, France Christophe Alves/ Pascal Mougin, +33 1 58 22 29 69 Other Locations Boston – Joel Mondon, +1 617 342 7408 London – Guillaume Rondy, +44 (208) 528 1531 Representative Clients None Provided

Website http://www.smartco.com

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SoftSmiths TMS SoftSmiths, Inc 10696 Haddington Dr, Suite 102 Houston, Texas 77043


Company/Product Information SoftSmiths, Inc is a Texas-based, privately held corporation. An industry pioneer and leader in transaction management solutions, the company has been successfully delivering energy business solutions to energy service companies since commencing commercial operations in January 1997. SoftSmiths provides transaction management systems and services for power and gas utilities, generators, transmission providers and retail electric providers, who operate in physical markets to sell, purchase, trade, and deliver energy in the most efficient and cost-effective way. SoftSmiths’ seamlessly integrated, scalable, and adaptable solutions provide ready-to-deploy, out-of-the box functionality that is highly configurable and customizable to meet companies’ unique needs.

SoftSmiths’ proven solutions and in-depth knowledge of the industry’s business practices allow its customers to automate manual processes around forecasting, resource management & planning, position management & trading, scheduling, ISO/RTO communication, and accounting.




As a result they eliminate redundancies and increase business visibility across the enterprise to allow faster decision-making and more informed decisions, thereby improving trading cost, operational efficiencies and cash flow, and increase asset value.

Main Office 10696 Haddington Dr, Suite 102 Houston, Texas 77043 America - +1-713-626-9184 Other Locations Austin, TX Portland, OR Representative Clients Anaheim Public Utilities Bryan Texas Utilities First Choice Power Indianapolis Power & Light New Brunswick Power Texas Power Website www.softsmiths.com

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EDIS Syseca Ltd. Gubelstrasse 11 6300 Zug (Switzerland)


Company/Product Information Since 1994, syseca Ltd, the supplier of the leading pan-European scheduling & notification product EDIS, has provided innovative ICT solutions and professional services to the energy and utilities sector throughout Europe. syseca offers a complete range of consultancy and software project and development services enabling us to take responsibility for providing complete solutions and ensure Customer satisfaction at all stages of our projects.

EDIS is a leading Scheduling & Notification product for the pan-European energy market mostly implemented as an ancillary service to an ETRM system.

EDIS is an out-of-the-box solution to execute the whole notification workflow within the physical Trading & Settlement process and to interchange the data with the ENTSO-E market operators.

Raw quantity data from the ETRM system will be transformed into the appropriate

notification format required by the market operators. All the relevant communication formats and market rules are completely managed in the application and presented consistently to the user, hiding all the technical communication details.




A schedule monitor allows for a quick check of the overall situation and the sophisticated drill down functions show all the relevant detail information including schedule quantity data, workflow & communication status and audit log.

Extensive reporting and reconciliation functions (especially for the UK market) support the user to quickly check the correctness of the sent and received data and their differences.

EDIS is specially designed to cope with the close-to-real-time requirements of the intraday spot trading and is architected for ease of use and seamless integration

Additional emphasis is placed on the timely adaptations of new or modified communication formats and market rules to guarantee time-to-market for the customers.

EDIS is based on state-of-the-art JAVA technology and the ORACLE database system.

The currently available market adapters already include most European countries including the cross-border and internal notifications. Head Office Gubelstrasse 11 6300 Zug (Switzerland) Phone: +41 41 728 72 42

Representative Clients None provided Website www.syseca.com

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TransRisk TransGraph Consulting #6-3-655/2/1 A P Civil Supplies Bhavan Lane Sumajiguda, Hyperbad, 500082 India


Company/Product Information TransRisk, a web-based market risk management solution provides manufacturing, processing and trading companies with a robust, customizable and stable commodity and currency risk management solution. It derives net exposures based on the business process and allows users to have single accurate, view of exposures, market-to-market P&L and Value-at-Risk (VaR) across the organization, thereby bettering the synchronization of business strategies. • It calculates risk by VaR based risk engine

using different methodologies like Monte-Carlo, Historical & Parametric.

• Uses Conditional (EWMA) and Unconditional

Volatility and Correlations • Analyses risk by commodity / porfolio /

trader / market / instrument / asset types and drills down into portfolio to find the cause of significant change in the risk

• Simulates risk using stress testing and what-if scenario by editing necessary volatilities and correlations

• Generates pre-configured risk and

compliance reports using OLAP (online analytical processing) tool

• Technical analysis is done on TransGraph's

data or own data could be used




• Custom commodity / risk management policy/region exposure / trader / M2M / P&L limits can be set to get automated alerts

• Built on distributed n-tier application using

web-based AJAX technology • User and menu level security is provided

using .NET advanced security level features, keeping track of complete audit log of all users

Main Features of TransRisk v3.0: • SaaS (Software-as-a-Service) based model

for delivery of the product and pricing • Risk return analysis • Options & Swaps analytics • Back testing • Data loader Management (price, excel,

position) • Reports : Static & OLAP • Measuring risk using VaR methodology

(Monte-Carlo Simulation, Parametric and Historical Simulation.

• Alerts & Limits • Simulation module for simulating position

data & risk measurement covering user requirements of Stress-testing, Scenario Analysis and What-if Analysis.

• Risk Decomposition • Volatility and Correlation Estimations using

EWMA (Exponentially Weighted Moving Average) and Unconditional Methodologies.

• Mapping & prioritizing positions for Securities

TransGraph provide market risk management solutions with its leading risk management software. Also a Consulting pioneer in 'Market Analysis, 'Price Outlook' and 'Price Risk Management' services tracking commodity and currency markets worldwide and providing knowledge based decision enabling services to clients spread across the globe. TransGraph’s products help clients to overcome the Market Risks revolving around the commodity sector including currency risks. Main Office #6-3-655/2/1 A P Civil Supplies Bhavan Lane Sumajiguda, Hyperbad, 500082 India Tel: +91 40 30685000

Other Locations None

Representative Clients None provided

Website http://www.transgraph.com

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CommodityXL Triple Point Technology 301 Riverside Avenue Westport, CT 06880


Company/Product Information Triple Point Technology is the leading global provider of innovative software solutions to profitably manage commodities and enterprise risk. The company’s growing customer base of over 260 companies represent all industries with exposure to energy and raw materials, including oil and gas, coal, metals, agriculture, transportation, shipping, consumer products (CP), discrete manufacturers, and big box retailers. Triple Point’s flagship commodity management platform, Commodity XL™, meets all of the requirements for supply, trading, marketing, logistics, scheduling, shipping, risk management, and accounting in today’s volatile and complex environment. Triple Point offers the only solution to manage all four areas of financial exposure as outlined by the CCRO — market/price risk, counterparty credit risk, operational risk, and regulatory risk — on a tightly integrated platform. The company was named a ‘Leader’ in Gartner’s ETRM Magic Quadrant for three consecutive years for

completeness of vision and ability to execute. Headquartered in Westport, CT, USA, Triple Point employs 600+ people in 12 global offices and support centers.




Triple Point’s flagship commodity management platform, Commodity XL™, is the leading multi-market commodity trading and enterprise risk management solution. It meets all requirements for supply, trading, marketing, procurement, logistics, freight operations, scheduling, risk management, and accounting in today’s volatile and complex environment: manages the four key areas of risk: market, counterparty credit, operational, and regulatory; delivers a multi-commodity platform; provides advanced business intelligence for proactive decision-making; provides market-based supply chain solutions to profitably schedule and move commodities; handles commercial vessel operations and freight risk management; supplies straight-through processing and integrates physical and financial operations; ensures compliance, control, and audit-ability; and delivers scalability with an advanced service oriented architecture (SOA).

Main Office 301 Riverside Avenue Westport, CT 06880 America - +1 203 291 7979

Other Locations Parsippany - +1 973 244 1661 London - +44 (0)20 7065 7650 Houston - +1 713 334 9339 Sao Paulo - +55 11 3568 2422 Vienna - +43 18 9030 4090 Cape Town - +27 21 883 8060 Geneva - +41 (0)21 825 5656 Pune - +91 20 2582 1010 Singapore - +65 6832 5940 Chennai - +91 44 4217 7982 Sydney - [email protected]

Representative Clients Commodity Trading and Financial Services – LDH Energy, FreePoint Commodities, UBS Consumer Products and Agriculture – General Mills, Unilever, SABMiller Oil, Gas, and Chemicals – CITGO, Hess, ConocoPhillips Electric Utilities – Tenessee Valley Authority, OGE, Xcel Energy Transportation/Logistics – Olendorff, Eitzen Chemical & Gas, Pacific Carriers Limited Metals, Mining, and Manufacturing – Peabody, New Zealand Mint, Suraj Diamonds

Website www.tpt.com

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References & Other Useful Resources

References

CommodityPoint – ETRM Vendor Perception Study Report, May 2009 CommodityPoint – Non-Energy CTRM Vendor Perception study, 2010 CommodityPoint – Data-Management Study Report, 2010 CommodityPoint – CTRM Market Sizing Report, 2011 CommodityPoint – Service Provider Study, North America, 2011

Useful Resources Vasey, Gary M and Patrick Reames: Trends in Energy Trading, Transaction and Risk Management Software 2010-2011 – A Primer, Booksurge Publishing, 2010 Reames, Patrick and Vasey, Gary M: Selecting and Implementing Energy Trading, Transaction and Risk Management Software – A Primer, Booksurge Publishing, 2008 The TRM Directory – http://www.trmdirectory.com The ETRM Community and Blog – http://www.etrmcommunity.com The CTRM Blog – http://www.ctrmblog.com CommodityAlert Archives – CommodityAlert is our weekly free newsletter. You can find the archive for back issues at http://utilipoint.com/IssueAlert/IssueAlert_archive.asp and subscribe at http://utilipoint.com/issuealert/subscribe.asp?ListID=30

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About CommodityPoint CommodityPoint provides Commodity Trading & Risk Management (CTRM) research, analysis and consulting services. Our services bring insight into business issues, trends, processes and technology, to utilities, energy companies, banks, brokers, funds, investors and vendors that enhance their competitive position and support critical business decisions. CommodityPoint has been formed to bring focus and clarity to the broad array of issues surrounding the wholesale trading of commodities. Our team provides expert analysis of market trends and, in particular, the technologies and applications supporting those that participate in regional or global commodity markets. Our principal analyst, Dr. Gary Vasey bring years of practical experience to his role. With offices in Europe and the US, and backed by an experienced research team, our organization provides an unparalleled view of the marketplace. CommodityPoint is a division of leading energy and utilities analyst and consulting firm, UtiliPoint International, Inc.

CONTACTS

CommodityPoint - A Division of UtiliPoint International, Inc.

www.commodity-point.com

Europe & Asia/Pacific – Dr. Gary M. Vasey, Managing Director

International Business Center Prikop 4

602 00 Brno Czech Republic

Tel: +42 0 533 433 658

[email protected]

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mailto:[email protected]





About UtiliPoint® International, Inc.

For more than 75 years, UtiliPoint International®, has been a trusted source of insight into the energy and utilities industry. With more than 500 clients worldwide, we are the leading provider of research and advisory services for the energy sector. Our company is comprised of industry experts from around the world with diverse backgrounds in utility generation, transmission and distribution, retail markets, mergers and acquisitions, new technologies, venture capital, information technology, outsourcing, renewable energy, regulatory affairs and international issues.

UtiliPoint International, Inc. is a wholly owned subsidiary of Midas Medici Group Holdings, Inc. (OTCBB:MMED).

UtiliPoint is headquartered in Albuquerque, New Mexico, USA and can be found on the Web at http://www.utilipoint.com

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