SOURCEBOOK - Aspect Enterprise Solutions

CommodityPoint, a division of UtiliPoint International Inc. 

CTRM Vendor and Product Sourcebook 

CTRM Software 

May, 2011 

Version 3 

Copyright 2011 UtiliPoint International, Inc. 1



Table of Contents 

Introduction to the CommodityPoint CTRM Software Sourcebook ................................................5 

Important Disclaimer ...................................................................................................................6 

How CommodityPoint Can Help Your Selection Process ................................................................7 

What Is Commodity Trading, Transaction and Risk Management Software ..................................9 

Front-Office Applications ................................................................................................................ 11 

Electronic Trading ......................................................................................................................... 11 

Deal Capture ................................................................................................................................. 11 

Real-time Trade Capture .............................................................................................................. 12 

Trader Analytics ............................................................................................................................ 12 

Position Keeping ........................................................................................................................... 13 

Scheduling Applications................................................................................................................... 13 

Pre-Scheduling and Scheduling .................................................................................................... 13 

eTagging & ISO/RTO Interfacing .................................................................................................. 13 

Middle-Office Applications .............................................................................................................. 14 

Risk Management ......................................................................................................................... 14 

Credit Management ..................................................................................................................... 14 

Back-Office Applications .................................................................................................................. 15 

Contract Management ................................................................................................................. 15 

Settlement & Invoicing ................................................................................................................. 15 

Hedge Accounting ........................................................................................................................ 15 

Other CTRM Functions ..................................................................................................................... 16 

Requirements Dictated By Assets and Location ............................................................................. 16 

Summary .......................................................................................................................................... 17 

Product and Vendor Listing ........................................................................................................ 18 

Abacus Solutions, Inc. 

Saturn Version 3.0 .................................................................................................................. 20 

Allegro Development, Inc. 

Allegro Version 8 .................................................................................................................... 22 

Amphora, Inc. 

Symphony .............................................................................................................................. 24 

Ascend Analytics, Inc. 

PowerSimm ........................................................................................................................... 26 

Aspect Enterprise Solutions 

Aspect ETRM Version ASP ....................................................................................................... 28 

Brady PLC 

Brady 2011 ............................................................................................................................ 30 




Calypso 

Calypso V11.1.04 .................................................................................................................... 32 

Comfin Software & Consulting Services Gmbh 

The Bulldog Version 3.0 .......................................................................................................... 34 

Constellation of Energy Solutions 

Constellation .......................................................................................................................... 36 

Contigo Ltd 

enTrader Version 1.6.0.3 ........................................................................................................ 38 

Data Management Solutions Corp. 

GasPro Version 5 .................................................................................................................... 40 

Delta Energy Solutions AG 

ET3000 ................................................................................................................................... 42 

Eka Software Solutions Pvt Ltd 

EKA CTRM Version 8 ............................................................................................................... 44 

EMK3 

EMK3 Upstream Version 9.1 ................................................................................................... 46 

Encompass Technologies, Inc 

EnCompass Energy Suite Version 6 .......................................................................................... 48 

Energeya LLC 

XDM Suite Version 1.6 ............................................................................................................ 50 

ENSYTE Energy Software Interenational 

GASTAR ................................................................................................................................. 52 

HGH 

Dycotrade .............................................................................................................................. 54 

Hyper Rig LTD 

Hyper Rig ............................................................................................................................... 56 

iRely 

iTrade Version 2 ..................................................................................................................... 60 

iRisk 

iRISK ...................................................................................................................................... 62 

IRM (An OpenLink Company) 

iOpt Version 6 ........................................................................................................................ 58 

JustCommodity Software Solutions 

ContraxCentral Version 4 ........................................................................................................ 64 

KYOS Energy Consulting 

KYOS PRM Version 2.4 ............................................................................................................ 66 

Lacima Group 

Lacima Analytics .................................................................................................................... 68 

Murex S.A.S. 

Murex MX.3 ........................................................................................................................... 70 

Navita Systems AS 

Pomax Version 9 .................................................................................................................... 72 

Nexant 

Revenue Manager Version 8 ................................................................................................... 74 

Open Access Technology International 

OATI webTrader Enterprise Version 7 ...................................................................................... 76 

OpenLink Financials 

OASES - OpenLink's solution for Agribusiness .......................................................................... 78 

Pioneer Solutions, LLC 




TRMTracker ........................................................................................................................... 80 

SAS and RiskAdvisory (A Division of SAS) 

SAS for ETRM Version 9 .......................................................................................................... 82 

Sisu Group, Inc. 

PetroMan Version 11.20 ......................................................................................................... 84 

Softsmiths Inc 

SoftSmiths TMS, Version 5 ...................................................................................................... 86 

Solarc, Inc. 

RightAngle Version S11 .......................................................................................................... 88 

Spectrum-Prime Solutions, LP 

RiskPrime Version 6X .............................................................................................................. 90 

SunGard Energy and Commodities 

Aligne Version 3.0.x ............................................................................................................... 92 

Kiodex ................................................................................................................................... 94 

TRADEPAQ TRM llc 

TRADEPAQ TRM Version 4.1 ................................................................................................... 96 

TransGraph Consulting 

TransRisk Version 2 ................................................................................................................ 98 

Triple Point Technology, Inc. 

Commodity XL ...................................................................................................................... 100 

Ventyx 

TRM Version 5 ...................................................................................................................... 102 

Veson Nautical 

IMOS Version 6 .................................................................................................................... 104 

WellPoint Systems, Inc 

ETLM Version 5 .................................................................................................................... 106 

Woodlands Solutions, LLC 

Phoenix ETRM Version 4 ....................................................................................................... 108 

References & Other Useful Resources ....................................................................................... 110 

References ...................................................................................................................................... 110 

Useful Resources ............................................................................................................................ 110 

About CommodityPoint............................................................................................................ 111 

About UtiliPoint® International, Inc. ......................................................................................... 112 




Introduction to the CommodityPoint CTRM Software Sourcebook 

The CommodityPoint CTRM Software Sourcebook is designed to be a useful and usable resource to help those 

seeking to select CTRM software. It is a starting point in that process providing a high-level guide to allow you to 

select a long list of vendors that may or may not prove to be capable and competent to supply your solution after 

you have conducted an RFI and/or RFP process. IT is NOT designed to be a replacement for your selection 

process. CTRM software is simply too complex to be selected properly without a reliable and complete selection 

process. We hope the CommodityPoint CTRM 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, 

CommodityPoint research highlights, 

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 by commodity. 

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 that were in use by a current user, capabilities not 

currently used by a client or lacked capabilities in each 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. 

We believe that the Sourcebook by CommodityPoint is the ultimate source for product and vendor data utilized by 

end users seeking new software. 




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 CTRM 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 going to print. 

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 software area but we also offer services of 

tremendous value to those seeking to select and implement CTRM software designed to reduce costs, timescales 

and risks. CTRM 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 mtredway@utilipoint.com. 




What Is Commodity Trading, Transaction and Risk Management Software 

Commodities trading, transaction and risk management (CTRM) software is that category of software applications, 

architectures and tools that support the business processes associated with trading energy and broader 

commodities. In the broadest sense, commodities trading means both the buying and selling of commodities such 

as crude oil, coal, natural gas, electric power, agricultural commodities such as sugar, corn, wheat, metals such as 

gold, copper, emissions and refined products, the management of the movement and delivery of the commodities, 

and associated risk management activities. CTRM software therefore comprises a broad set of functions that can 

vary considerably depending on what commodities are traded, what assets are employed in the business, where 

those assets are located, and what the company’s business strategy and associated business processes are. 

Usually, CTRM solutions are fully integrated suites of software that help manage the front-, middle- and backoffice 

aspects for a trading entity. Although such definitions and organizational structures differ quite widely across 

the industry, the front-office is usually concerned with deal capture and position management, the middle-office 

with managing and reporting various risk exposures as a result of trading activities and the back-office with 

settlements and accounting functions. Additionally, there will usually be a scheduling or logistics management 

component to CTRM solutions that allow the energy company to plan, track, manage and account for quantities of 

commodity that have to be physically moved from its source to some point of usage. 

Recently, with the emergence of commodities as an asset class and of financial traders such as hedge funds and 

banks, the boundary between ETRM (Energy trading & risk management software) and CTRM has become 

increasingly blurred. CommodityPoint research indicates that few, if any trading firms, now trade a single 

commodity and even what constitutes ‘energy’ is less distinct than it once was. These days, commodities such as 

freight rates, ethanol and emissions might be traded by energy trading firms in addition to crude oil, natural gas 

and so forth. ETRM software is increasingly likely to cater for commodity trading generally and not just energy 

commodities these days and into the future. 

CommodityPoint analysis also demonstrates that there are also significant new areas of functionality required by 

asset-heavy users of ETRM systems such as power generators. These involve various market analysis and 

forecasting activities including load forecasting and price forecasting in particular regional commodity markets and 

asset optimization modeling. The requirement is to optimize the use of assets employed by the business against 

usage and outage trends in regional markets helping to determine the most profitable way in which to manage 

those assets given the market needs. There is also a real-time trading component to these requirements since 

adjustments need to be made in real-time through the day as market dynamics change. Another area of 

functionality required in this industry segment is in market communication; particularly in regional power markets 




where bidding, dispatch, scheduling, ISO communication, settlements and reconciliations are needed. Figure 1 is a 

simplified comparison of "traditional" ETRM with our view of the emerging need for an Asset-ETRM solution. 

With the emergence of commodities as an asset class, the increase in the trend to trade energy-related and other 

commodities, the ETRM software space is both broadening in scope as new niches emerge such as that discussed 

above for more asset-heavy oriented traders. Indeed, the ETRM software category is becoming even more 

complex than it once was. 

Today, many of the larger software vendors in the CTRM space offer comprehensive suites of solutions while other 

software vendors specialize in market communication, load forecasting and other asset-oriented requirements. 

Table 1 - Requirement summary for ETRM users 

Although CTRM software functional coverage can be difficult to define, another way to look at it is to consider the 

types of company that need to utilize CTRM software as follows:- 

Hedge Funds trading commodities; 

Investment banks trading commodities; 

Energy merchants trading commodities; 

Multinational oil companies trading commodities; 

Producers selling their production; 

Utilities (Investor-owned, Municipal utilities and cooperatives) buying fuel for power generation and 

for the sale of wholesale gas or electric power; 




 

 

 

 

 

 

Local Distribution Companies buying wholesale energy to sell to retail markets; 

Large commercial and industrial end users of energy and other commodities; 

Petrochemical and refining companies that procure feedstock in wholesale markets; 

Agricultural producers; 

Metals and other raw materials miners; 

Food processing companies. 

Given the list of different segments of the industry that might require CTRM software, it can be readily understood 

that the required functionality of such systems can be very extensive and complex. 

Perhaps another way to think about CTRM software is to consider the management of two primary functions 

across these entities. First is the business of managing the assets employed in the business (whether those assets 

are generation facilities, produced quantities of oil, gas or electric power), and secondly the merchant function 

that is involved in the buying and selling of commodities and managing associated risks. CTRM software is used to 

manage the merchant function and but increasingly it has to be integrated with and/or include asset management 

functions. However, it remains very difficult to define the entire functional coverage of an CTRM system simply as 

a result of the different variations in requirements at the detailed level. On a broad level, the software will 

comprise most of the following applications or functions; 

Front-Office Applications 

Electronic Trading 

Electronic trading is utilized by a variety of industry players that conduct trades and those trades need to be 

captured in the CTRM system so as to insure that it is the primary system for position keeping and risk 

management. 

Deal Capture 

The deal capture application area supports the traders and/or administrators capture of deals into the system for 

further processing. Generally, deal capture is the start of the transaction flow through to invoicing but it usually 

requires other set up data to function correctly such as contract and counterparty data. Deal capture requires a 

high level of ease of use to allow traders and administrators to enter deals rapidly. Many vendors have therefore 

developed “deal blotter” screens in addition to long-form deal capture screens. The deal blotter screen looks and 

behaves like a spreadsheet and is a familiar work environment for traders. Additionally, it may often be 

configurable allowing a specific trader to ‘default’ many of the data items on the screen for more rapid data 

capture. 




Deal capture systems need to be able to capture any number of transactions - both physical and financial. It is this 

that adds to the complexity of deal capture systems since each deal type requires any number of additional and 

unique attributes to be also entered. One issue that may arise with the deal capture function is in capturing 

physical and financial deals in different systems. Financial deals may sometimes be captured in a risk system while 

the physical deals are captured in the transaction management systems. This results in a need to link 

corresponding deals and can lead to integration and position keeping problems. 

As the industry has evolved, the deal capture business function has become more standardized, with better 

definition of the instruments and deal types used across the industry. In turn, this has allowed vendors and 

solution providers to develop better solutions to support traders. Nonetheless, deal capture can be a complex 

piece of functionality especially if it is combined with trader tools for what-if analysis and if it is required to provide 

instantaneous valuation and risk measures such as Value at Risk and Mark to Market valuation. 

Despite the increased standardization in this business function, since it is often provided as a module in a broaderbased 

solution, it is rarely deployed stand-alone. In almost all cases, the deal capture module is bundled with 

other functionality to provide transaction processing through pre-scheduling and often to invoice. 

There are many ways in which deals get done today including over the telephone, through an exchange, using 

Interactive Messaging and email. All of these different media have to be captured in the CTRM’s deal capture area. 

Real-time Trade Capture 

For any power company with generation, real-time trading also has to be performed and those deals captured in 

the system. Real-time trading is conducted to maintain balance as generation operations progress and as real-time 

needs arise on the grid and it is a separate function from the actual wholesale trading operations that deal with 

time periods beyond the day of operations. Real-time trading is therefore more typically a requirement for utilities 

and generators than merchants and often managed by the regulated arm of the company. 

Trader Analytics 

Analytic tools to support traders in their activities have become common additions to many CTRM systems in 

recent years. These tools can include price calculators (option prices, etc.) as well as “what-if” tools allowing 

traders to analyze the impact of a trade against a portfolio. One evolution that has taken place in the analytics area 

is one from models developed primarily for financial markets to more energy-specific models that take account of 

the specific behavior of the underlying commodity. 




Position Keeping 

Position keeping is the function that essentially tracks trades and their offsetting physical and financial positions 

and has long been an area of short coming in many trading/marketing departments and systems. Despite the fact 

that most third-party packages provide some position keeping functionality, many trading floors still rely on 

manually update whiteboards and spreadsheets to keep overall position. The issue is partly about the diversity of 

systems used by marketers/traders and the lack of a coherent integration framework that can bring all the 

required data together and present it in a usable form and, partly related to business process shortcomings – 

particularly where deals are entered after the fact. Position is required in multiple formats. For example, overall 

portfolio position, position at various points on the grid as well as physical and financial position. It is this level of 

complexity that has kept position keeping a largely manual activity in many marketing/trading shops. 

Scheduling Applications 

Pre-Scheduling and Scheduling 

Scheduling involves organizing planning and tracking the movement of physical energy commodities via some 

transport mechanism and for that reason scheduling systems have different functionality depending upon the 

commodity to be scheduled and the geographic location in which the movement will take place. Scheduling or prescheduling 

is another function that can be extremely complex and that many vendor-provided solutions still fail to 

address completely. In North America, gas scheduling comprises pathing, nominating, and confirming gas volumes 

through various pipelines whereas electric power scheduling involves pathing power through various grids and 

communicating back and forth with the regional power markets. Scheduling for other commodities such as crude 

oil and coal may involve utilizing barges, trains, trucks or vessels and the tracking of those shipments from one 

place to another. 

Scheduling is a function that both plans the movement of the commodity but also tracks and accounts for that 

movement. So for example, a company may plan to move a volume of natural gas along a pipeline but it needs to 

have the legal right to do so and then communicate back and forth with the pipeline on issues such as the actual 

volumes delivered and shipped, the transportation costs and any losses in volume that take place on the pipeline 

and so on. It is a very complex function and different solutions are required for each commodity and geography. 

eTagging & ISO/RTO Interfacing 

These functions are important in scheduling electric power in North America and as the interfacing and e-tagging 

requirements are largely regional (by ISO or RTO) in nature, this business function has not and might never truly 

standardize in North America. It therefore provides a niche opportunity for specialist solution providers. The 

function involves communicating to the regional power market operator using its standards for data interchange 

as well as reconciling and settling on the actual quantities that moved. 




Middle-Office Applications 

Risk Management 

Risk management systems in the energy industry became essential tools after wholesale power markets opened 

up. The instantaneous nature of power, its lack of storage capabilities, and price volatility drove the adoption of 

risk management across the industry. The risk system generally captures financial trades directly and then provides 

various exposure reports for both financial and physical trades/portfolios. 

Many risk systems provide a variety of tools to value trades, books, and portfolios including Value at Risk and 

Earnings at Risk. The diversity of instruments/trades that need to be represented in risk systems may include 

weather, interest rates, and foreign exchange transactions as well as energy commodity related instruments. Risk 

system vendors are now adding methods and reports to address aspects of the physical side of the business such 

as volumetric and deliverability risk. Earnings at Risk and similar tools are an example of the shift that has taken 

place in this area. Earnings at Risk possibly provides a better assessment of how earnings would be impacted by 

certain events or price movements as opposed to making the assumption that positions can be unwound. For 

marketers with generation, for example, power is actually taken to delivery and therefore the position cannot be 

“unwound” in the same way that a financial position might be. This volumetric risk aspect to today’s power 

marketers’ business differs considerably to the market risks faced by asset-light merchants. 

Another facet of the changing risk management world is the mark-to-market valuation versus accrual accounting 

often used by utilities. While mark-to-market valuation is a common and accepted method, the difficulty is in 

understanding how a mark-to-market profit actually gets booked on an accrual basis. Often, traders and marketers 

have been rewarded based on mark-to-market position as opposed to actual accrued profits. In the past, price 

manipulation resulted in inflated mark-to-market valuations that after settlement weren’t reflected in the 

company’s books, causing apparent profits to “evaporate.” As a result, more emphasis is now placed on 

independent price data but this is difficult in more opaque Over the Counter (OTC) transactions. 

Credit Management 

Credit management and credit risk management has become an area of concern for all energy companies after the 

collapse of the merchants and the counterparty credit issues that followed. The credit management function 

requires access to contract data as well as external credit agency and other credit data. The credit function usually 

establishes credit profiles for counterparties, monitors credit limits against counterparties as well as manages 

collateral requirements. It has rapidly become something of a specialized function that has growing importance 

and is now served by specific credit management application providers. 




Additionally, many of the existing CTRM platform vendors also provide some credit management functionality. In 

this instance, the functionality is usually limited to monitoring trade exposure to counterparties although some 

systems do go further. Very few traditional trading and transaction management systems however also manage 

the collateral side of credit management. 

With the ongoing emphasis on credit and collateral management as a component of good corporate governance 

and risk management, this is an area that may see a continued emergence of specialist vendors and a requirement 

to integrate with existing trading and transaction management systems. 

For marketers with both wholesale and retail operations, credit management is a much more complex proposition. 

If utilizing a CTRM system’s credit functionality, this is generally built to provide credit management for wholesale 

trading activities only lacking the ability and scalability to manage counterparty credit exposure for thousands of 

retail counterparties. Generally, the solution is to aggregate like contracts into groups and then load those into the 

credit management module and this again requires external spreadsheets or customized solutions be built. 

Additionally, there are developing a number of risk measures such as Credit Value at Risk (CVaR). While some 

systems ostensibly offer the ability to calculate and report on CVaR, the devil is in the details of the methodology 

and the ability to enter and store credit data at the appropriate level. 

Back-Office Applications 

Contract Management 

Contract Management data is a key component for trading, credit management and scheduling activities and it is 

generally provided as a part of a CTRM system. Generally, these systems maintain the key contract data that 

provides for counterparty credit limit monitoring, transmission terms and trading limits, and so on. 

Settlement & Invoicing 

While settlement and invoicing are often grouped together, they are two different and important functions. While 

both functions are often provided by CTRM software packages, many companies actually utilize solutions other 

than their primary CTRM system to perform these functions. Again, while invoicing is a function provided by many 

of the primary trading and transaction management systems, but many companies also utilize a different system 

to produce invoices. 

Hedge Accounting 

Hedge Accounting has become a mandatory function since the inception of FAS 133 and its equivalent accounting 

standards. As with credit management, a host of niche solutions has been developed specifically to help perform 




hedge accounting. At the same time, many traditional vendors have added some degree of hedge accounting 

functionality to their systems, too. 

Other CTRM Functions 

Depending upon the type of company utilizing and CTRM system a number of other functions may be required 

including gas storage, inventory management, generation dispatch, load forecasting, market simulation, stress 

testing, gas measurement, and more. Additionally, all CTRM solutions will require some administrative functions 

including security of access, audit trailing, workflow, interfaces to external price feeds and other external data 

sources and, document management. 

Part of the complexity of CTRM is that there is no real standard for what comprises an CTRM system. However, as 

regulations and recommendations are made by various organizations and governing bodies, more standardized 

approaches are emerging in areas such as risk management, deal capture, and the back office. Still, as the CTRM 

software class serves such a broad set of essentially niche markets from hedge funds to regional utilities, what 

constitutes a CTRM solution is very variable. It is this that allows so many vendors and products to coexist in the 

industry since many products are targeted at niche vertical markets or at specific functions within the context of 

CTRM. 

Some CTRM software solutions have gone further in terms of back office functionality too and offer general ledger, 

accounts payable and accounts receivable functions. However, many companies utilize their existing accounting 

packages to perform much of this functionality requiring an interface between the CTRM system and the 

accounting system. 

The industry is actually a very heterogeneous market for CTRM software with horizontal and vertical niches that, 

on the surface at least, appear to share similar requirements. While many “outsiders” see a large and attractive 

homogeneous market for CTRM software with good revenue and profit potential, the truth is that there are a 

plethora of company business models and each model has its own detailed version of the same set of 

requirements. Indeed, at a certain level of detail, all companies involved in buying and selling commodities have 

common business functions yet, as you drill down, there are significant and fundamental differences in those 

requirements. The idea that there are standard functionality requirements is simply a mirage created by a 

fundamental lack of understanding of the energy business at a detailed level. 

Requirements Dictated By Assets and Location 

The nature of each company's physical assets and the geographic location of those assets actually dictate the 

majority of the software requirements at the detailed level. The need to record and report on data and 




transactions is inevitably governed by the regulatory regimes under which the company operates its assets and by 

the type of assets employed in the business. For example, an electric generator with predominately hydro 

generation facilities will have different requirements from the company that has predominantly coal-fired facilities. 

Generators in different geographic regions will have different reporting requirements. During the energy trading 

bubble, the fundamental importance of assets was overlooked and the recent return to asset-centric trading has 

increased the importance of asset-related software requirements. 

Summary 

It is difficult to define CTRM software precisely. At its core, CTRM software comprises deal capture, position 

keeping, risk management, settlement and invoicing along with some scheduling modules organized such that data 

is entered only once and flows through the system from the front office to the back office. In reality, each 

company using a CTRM solution has its own particular requirements and each vertical market niche from 

production to Local distribution requires some variation in functionality and some extensions to functionality. 

Indeed, it is this variability in requirements that adds to the overall complexity of implementing CTRM software. 




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, 

CommodityPoint research highlights regarding the vendor and product, 

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, by function (vertical axis), by 

commodity (horizontal axis), 

 

 

 

Vendor’s office locations, 

A representative list of users of the product, 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, by 

major commodity and area of functionality or system feature, whether the product has capabilities that have been 

deployed in a particular functional area, capabilities in that area not yet deployed at any client site, or cannot 

support that feature or function. 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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SATURN, Version 3.0 

Abacus Solutions Inc 

24704 Voorhees Drive 

Los Altos Hills, CA 94022 

Markets/Geographies Served 

CommodityPoint Research Highlights 

As a relatively new vendor, Abacus Solutions Inc has 

made steady progress with its innovative SATURN 

product which benefits from having been built on 

modern technology and designed from first principles 

incorporating physical assets into the risk picture. 

SATURN was among the solutions ranked as a market 

leader in CommodityPoint’s 2009 CTRM Vendor 

Perceptions study for Market Risk and in the 

Generation segment of the industry. 

Company/Product Information 

Abacus Solutions Inc is the developer of SATURN, a webbased 

integrated enterprise ETRM system designed to 

meet the market need for an integrated platform that can 

address the financial and physical requirements of 

vertically integrated energy companies. Using modern 

technology, SATURN integrates twelve key applications: 

Market Simulation: All markets, Forward/Spot, 

different processors, multivariate correlations 

Parameters Estimation: All markets/simulation 

parameters, historic/recent market data 

Generation Optimization: Thermal, Renewable 

(wind, solar, hydro, other), and Storage; 

operational and environmental constraints 

Load Analysis: Electric/gas, regression analysis, 

renewable requirements 

Trade Capture: All commodities, all trade types, 

templates, structured contracts 




Trade Valuation: All commodities, all trade types, 

MTM, VAR, Greeks, etc. 

Business Intelligence: Markets, weather, loads, 

generation 

Market Integration: Trading platforms, brokers, 

counterparties, etc. 

Credit Management: Rating transition matrix, 

default probability, current/future exposure 

Financial Analysis: Key performance indicators, 

targets, margins, other financial metrics 

Risk Management: Financial/volumetric metrics 

Portfolio Management: Existing/potential 

portfolios, efficient frontier, risk/return tradeoffs 

SATURN users can generate statistics about prices, loads, 

and generation, and transfer their results to PowerPoint 

and/or other tools. Price simulation parameters can be 

automatically developed from recent data and market 

quotes. Managers and executives can review performance 

updates through customized dashboards. Traders can 

quickly review updated market information and hedge 

positions. SATURN features: 

Advanced Analytics: Markets, generation, credit, 

risk, portfolio management 

Performance: 64-bit architecture, multi-threaded, 

N-tier, parallel processing 

Modular Architecture: Comprehensive vertical and 

horizontal scalability 

Integration: Markets, generation, trades, loads 

and credit, short/mid/long term 

Extensive Reporting: Different formats, flexible 

granularity, extensive configurability 

 

 

 

Intuitive Interface: Standardized layout, extensive 

configurability, web-based 

Enterprise Services: Document management, users 

forum, news feeds, notifications, etc. 

Enterprise Mobility: Access/Anytime/Anywhere, SOA, 

authorization/authentication, etc. 

SATURN is scalable along several dimensions including 

geographies (countries, regions, locations, etc.), 

commodities (power, fuels, emissions, FX, etc.), granularity 

(hourly, daily, etc.), number of markets, number of 

generation units, number of trades, time frame (a few days 

to many years), number of simulations, number of users 

(including physical location), level of users (from analysts to 

executives), organizational structure (across many 

functional areas), functional applications (market analysis, 

generation optimization, trading, load analysis, etc.), 

analysis type (transactional, analytical, presentation, 

reporting, decision support, etc.), etc. SATURN’s scalability 

is due to its modern 64-bit multi-threaded/multi-core 

architecture and efficient handling of data storage, 

retrieval, processing, and dissemination. 

Main Office 

24704 Voorhees Drive 

Los Altos Hills, CA 94022 

Other Locations 

New York, USA 646.360.1247 

California, USA 650.941.1728 

London, UK 44.20.3384. 2676 

Representative Clients 

Scottish Power 

PSEG 

Texas Retail Energy 

Website 

http://www.abacussolutionsinc.com 




Allegro, Version 8 

Allegro Development, Inc 

1445 Ross Avenue, Suite 2200 

Dallas, Texas 75202 USA 



Allegro is one of the top five vendors in the ETRM space 

according to the most recent CommodityPoint Vendor 

Perception study. Allegro ranked third overall in terms 

of brand recognition and fourth in terms of perceived 

market leadership. Its longevity in the industry is a 

major factor in market leadership perceptions. It is 

better known in North America where it ranked second 

for brand recognition. 

Allegro ranks between third and fifth in all major 

functional categories in that study and also is perceived 

to be the market leader for reporting and second for 

integration. 


Allegro Development was founded in 1984 by current CEO 

Eldon Klaassen. It has been a very innovative company 

moving swiftly to add functionality as the industry evolved 

and matured. It was also arguably the first major TRM 

vendor to migrate to a SOA architecture which allowed the 

company to add new components to its software rapidly. 

Allegro version 8 is a broad platform that incorporates TRM 

functionality for multiple markets including energy, 

agricultural and environmental commodities. Allegro 8 

supports grid computing, providing real-time valuation, 

scheduling, and settlement; enabling businesses to more 




easily scale processing capabilities to match growing 

portfolios. 

Allegro 8 utilizes standardized connectivity components 

that allow seamless integration of components in any 

combination so that the scope of the solution matches the 

scope of business objectives. Allegro also delivers partnerdeveloped 

integration components that provide direct 

connectivity to sources like Platts, Logical Information 

Machines (“LIM”), integration with SAP, and commodity 

exchanges. 

Functionality is delivered via ‘components’ which plug into 

the overall Allegro architecture and can be bundled 

together to server specific end user market needs. 

Components include: 

Barge 

Contracts 

Credit 

Currency 

Emissions 

ERP Connect 

Equity Production 

Exchange Connect 

FERC Connect 

Fractionation 

Generation 

Hedge 

Liquid Natural Gas (LNG) 

Natural Gas Gathering 

Natural Gas 

Natural Gas Processing 

Net Valuation 

NETA Connect 

Optimization 

Petroleum Blending 

Pipeline 

Positions 

Power 

Price Connect 

Property 

Rail Retail Natural Gas 

Retail Power 

Revenue 

Settlement 

Simulation 

Systems Admin 

Trade Execution 

Trade Strategy 

Truck 

Vessel 

Workflow 

These components are bundled together in order to 

address the needs end-user markets such as: 

Natural Gas 

Petroleum 

Power 

Coal 

Agriculture 

Commodity Consumers 

Other software components handle connectivity to 

external and internal data sources. Allegro 8 also features 

work flow, audit and security along with online reporting. 

Main Office 

1445 Ross Avenue 

Suite 2200 

Dallas, TX 75202, 

USA 

+1.214.237.8000 

+1.888.239.6850 


Aces Power Marketing 

Arch Coal 

Atmos Energy 

Bord Gais 

Endesa Italia 

ExxonMobil 

Hunt Refining 

Koch Minerals 

Singapore Petroleum 

TransCanada Pipelines 

Website 

http://www.allegrodev.com 


Houston +1.713.650.6877 

Calgary +1.403.705.4171 

London +44(0)20.7382.4310 

Zurich +41(0)44.211.92.00 

Singapore +65.6236.5730 




Symphony, Version (not specified) 

Amphora, Inc. 

2500 CityWest Boulevard 

Suite 750 

Houston, TX 77042 




Amphora ranked 7 th overall in terms of vendor 

perception in CommodityPoint’s 2009 Vendor 

Perception Study. Amphora ranked 8 th in North 

America and 10 th in Europe where they are less well 

known. 

Amphora also ranked as a perceived market leader for 

crude oil (3 rd ), refined products (5 th ) and Agricultural 

commodities (4 th ). 

Founded in 1997, Amphora, Inc. is a global provider of 

software solutions designed and developed for companies 

in the field of commodity trading and risk management. It 

provides the trading community with an enterprise-wide 

ETRM software package. Its products target energy trading, 

logistics and risk management in the global crude oil, 

refined products and energy derivatives marketplace. 

Amphora markets a number of products including: 

Symphony – An end-to-end ETRM solution that 

offers robust functionality and manages clients 

Futures, Exchange Options, OTC Options, Swaps and 

Physicals in a single platform. 

Maestro – A risk management module that can be 

integrated with Symphony. 

Fleetime – A transportation management system 

that manages all various oil products transportation 




phases ranging from the contractual activity to the 

costs finalization. It also manages the operational 

logistics area referred to as maritime transportation. 

MarketConnector - Provides traders and mid/back 

office staff with immediate access to trades concluded 

on the Intercontinental Exchange (ICE), Chicago 

Mercantile Exchange (CME), and New York Mercantile 

Exchange (NYMEX), in a single aggregated view. 

Concluded trade data can then be fed directly into 

various internal and third party risk control systems 

such as Amphora’s flagship products Symphony and 

Maestro for straight-through processing. 

Symphony was engineered to be a complete and worldclass 

transaction management platform suitable for use by 

large and mid-size trading companies. It employs advanced 

technology allowing its clients to accurately evaluate 

trading opportunities and market positions in real-time, 

determine acceptable risk levels, respond to regulatory 

requirements, and improve the overall productivity of its 

trading teams. 

Symphony connects the numerous business functions 

within commodity trading companies into a single system 

that uses one common database. The system supports a 

variety of pricing models, including complex formulas and 

multiple settlement types. It provides accurate position 

reporting and P&L by business unit and can be customized 

to accommodate specific business processes without 

placing unnecessary constraints on the organization. 

Symphony provides a unified risk infrastructure for market 

and credit risk management. Its risk management tools 

enable Risk Managers to evaluate the company’s risk 

position, hedging strategies and market exposures and 

provide detailed and timely information about positions, 

VaR, and portfolios. 

Key features include: 

Trade Capture 

Portfolio Manager 

Scheduling and Distribution 

Contract Generation 

Complex Formula pricing 

Order and Fill Capture 

Global Bulletin Board 

Pricing Application 

TradeSearch and Deal Viewer 

Invoicing and Commercial Accounting 

Credit Viewer 

Portfolio Analysis 

Value at Risk (VaR) 

SOX & FASB Compliance 

Symphony employs a three tier client server, offering 

access via both desktop GUI applications as well as service 

based interfaces (Eg. pricing feeds, real time data update 

notifications, etc). This approach provides the ability to 

secure mission critical data behind firewalls and provide 

access to that data through a middle tier that exposes only 

specified services. Additionally, the service based 

architecture permits customers to build front ends or 

processes that interact and augment the system to meet 

customer specific needs. 

Main Office 

2500 CityWest 

Boulevard 

Suite 750 


+1.713.339.5600 


Chinaoil 

Koch Supply & Trading 

PetroPlus Holdings 

Sinclair Oil 


Rome, Italy 

+39.06.5483.2023 

Pradesh, India 

Website - http://www.amphorainc.com 

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PowerSimm, Version (not specified) 

Ascend Analytics 

1877 Broadway, 

Suite 706 

Boulder, Colorado 8030 



Ascend Analytics have been offering risk tools 

and solutions for some time. It registered on a 

prompted brand recognition basis in 

CommodityPoint’s 2009 Vendor Perception Study. 


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. Its 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. 

Primary Software Uses: 

• Portfolio analysis 

• Asset valuation 

• Hedge optimization 

• Planning & budgeting 

• Capacity expansion 

• Risk & scenario analysis 

Ascend Analytics is a software solutions and services firm 

that has grown steadily for the past decade. It works with 




many of the world's leading energy companies to achieve 

efficient processes and superior decision analysis. Its clients 

are provided with software solutions that reliably capture 

the factors that impact their business operations and 

financial performance. Ascend Analytics provides a 

modular analytical platform to manage decision analysis 

from the next day to the next thirty years. 

Ascend Analytics provides a single analytical platform to 

manage medium, long-term and short term portfolio 

optimization. Energy companies now have the option to 

manage all of their model-based decisions from one 

platform. 

Ascend Analytics software solutions provide analysis across 

the entire time horizon of decisions faced by today’s energy 

companies. Informing good decisions requires getting the 

modeling details right to accurately represent the physical 

and financial dynamics of energy. 

Industries 

Utilities 

Fuels 

Gas Storage 

Hydro Generation 

Renewable Generation 

Retail Energy 

Wholesale Generators 

Ascend Analytics is currently supporting the following job 

functions: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset Valuation 

Capital Allocation 

Cash Flow & Budgets 

Dispatch Optimization 

Energy Planning 

Energy Scheduling 

Financial Planning 

Market Data Analyst 

Portfolio Optimization 

Quantitative Analyst 

Regulatory Planning 

Risk Control 


Structuring Analyst 

System Balancing 

Trade Analyst 

Main Office 

1877 Broadway, 

Suite 706 

Boulder, Colorado 80302 

+1. 303.415.1400 

California Field Office 

1375 Grand Avenue, Suite 202 

Piedmont, CA 94610 

Phone Number: 303.415.1400 


Bozeman Data Center 

101 E Mendenhall Suite A 

Bozeman, Montana 59715 

+ 303.415.1400 


“Energy companies in North America and Europe” 

Website - http://www.ascendanalytics.com 




Aspect ETRM, Version ASP 

Aspect Enterprise Solutions, Ltd 

Castlewood House 

77-91 New Oxford Street 

London WC1A 1DG 



Aspect had a relatively low unprompted brand 

recognition in North America in the CommodityPoint 

2009 Vendor Perception study. They also ranked in the 

lower third of vendors on a prompted name recognition 

basis. 

However, since that study was undertaken, Aspect has 

been rebranded (from OilSpace) and have increased 

their visibility quite considerably and are one of the 

market leaders in SaaS delivery of ETRM software, 

particularly for crude centric market segments. It was 

amongst the top two recognized Saas vendors in 

CommodityPoint’s 2010 Saas Study. 


Aspect was founded in 1999 and was previously known as 

OilSpace. It offers a SaaS (Software as a Service) delivered 

CTRM solution which delivers front to back office 

functionality for most energy commodities. The solution is 

entirely web-based, utilizes a modern SOA architecture and 

OLAP technology. 

The company supplies a number of products including 

AspectDSC, a Web-based information and decision support 

system for traders, which supports a broad basket of 

commodities, TradeFlo, a deal capture system, and 

AspectCTRM, a fully fledged ETRM solution. 




Aspect CTRM includes the following functionality at a highlevel: 

Front Office: 

The AspectCTRM deal capture process handles physical 

and financial trading contracts along with position 

management. 

With customizable screens, traders can tailor their 

screen as desired. 

This coupled with security parameters and workflows 

creates a much bespoke application to fit the 

company’s business processes. 

Middle Office 

Managing and reporting risk exposure 

Real-time profit and loss reporting in trade 

management component 

Back Office 

Financial control and planning module allows creating 

necessary reports on income for any chosen period. 

Accounting functions 

Settlement 

AspectCTRM comprises of a number of functional modules 

including: 

 

 

 

 

 

Trade – manages deal entry through to back-office 

settlement. 

Risk – an energy risk trading system that can be 

provided stand-alone. 

Operations – manages movements, payments and 

costs associated with operating the enterprise and 

interacting with counterparties. It can also be provided 

stand-alone. 

Price Manager – Used to consolidate and support a 

global price forecasting process. 

Inventory Manager – Allows companies to manage 

volume and inventory control against changing 

portfolios and physical movement in real time. 

Use of the Saas deployment model means that all users, 

and all client companies, utilize a single code base and that 

implementations are short and fast while the cost of entry 

and total cost of ownership are significantly lower than 

traditionally licensed solutions. 

Main Office 

Castlewood House 

77-91 New Oxford Street 

London WC1A 1DG 

+44 20 7632 0170 


Singapore: +65 6738 6525 

Moscow: +7 495 925 7245 

USA: +1 212 904 0740 


Trafigura 

TNK-BP 

Masefield 

Noble Resources 

Chemoil 

ITOCHU 

Masoil 

Core Petroleum 

MRS Oil Nigeria 

Petrodiamond 

Hanwa 

Bominflot 

Integral Petroleum 

Select Energy 

Ambrian 

OILlive 

Sage Ghana 

Website 

http://www.aspectenterprise.com 




Brady, Version 2011 

Brady PLC 

281 Cambridge Science Park 

Milton Road 

Cambridge UK CB4 0WE 



Brady ranked 13 th in the 2009 Vendor Perception study 

for unprompted brand recognition. However, it is much 

better know in Europe where it ranked 7 th than in North 

America. Aquarius was recognized by a small number 

of European respondents. 

Brady Aquarius was also ranked as a market leader for 

Base Metals, for integration and cost effectiveness. 

Brady was also perceived to be a market leader in 

Precious Metals and Base Metals. 

VIZ Risk Management is well known in Europe where it 

ranked 13 th in unprompted brand recognition in 

CommodityPoint’s 2009 Vendor Perception Study. 


Brady has more than 25 years of history in serving 

commodity markets including Base, Precious Metals & Raw 

Materials, Energy including Oil, Coal and Gas and Softs. It 

has over 100 customers worldwide, including financial 

institutions, trading companies and mining corporations. 

Brady is a public company and had revenues of just over 

11.1 million GBP for the financial year ending 31/12/2010. 

Brady has acquired a number of other providers in the last 

2-3 years including VIZ Risk Management, Viveo 




Switzerland and ComSoft, expanding its commodities and 

industry sector footprints as well as its global client base. 

Brady offer a choice of trading and risk management 

solutions designed to help producers, consumers, financial 

organizations and trading companies manage all of their 

commodity transactions in an integrated solution - 

including pre-deal analysis, trade capture, risk 

management, foreign exchange, credit risk, logistics, cash 

management, physical operations, back office financials 

and treasury settlement. 

Brady’s solutions include; 

Trinity 

Trinity is a single integrated supply chain and risk 

management solution. It has a comprehensive range of 

features across derivatives, physicals and treasury and is 

capable of handling all stages of a transaction from front to 

back office. 

Opval 

Opval is a fast and flexible option pricing and risk 

management system. It provides a fully integrated suite of 

front to middle office functions from quick and efficient 

pricing of various types of options, through deal entry and 

portfolio management, to risk analysis and reporting. 

Aquarius 

Developed in a live mining, trading and smelting 

organization, Aquarius provides a single solution to 

companies looking to manage their metal assets from raw 

materials at the mine through trading and smelting along 

with associated hedging and risk management. 

Fintrade 

Fintrade is a powerful software solution for organizations 

trading physical softs, oil, gas & coal that provides the 

facility for simple and swift manipulation of typical trading 

transactions. The workflow in Fintrade follows the lifecycle 

of a deal closely, starting with the contractual phase, 

followed by the execution phase and finally 

linking the data to the accounting and financial 

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reporting. 

Elviz 

Brady Elviz is the specialist integrated ETRM system for 

energy, with over a decade of dedicated development and 

focus on the energy market, particularly the electricity, gas, 

oil, coal and emission markets. Brady Elviz combines 

sophisticated trade and risk management functionality with 

flexible, state of the art reporting, data warehousing and 

integration technology. Brady Elviz is easy to install, with 

clearly defined customisation and integration interfaces 

giving it a fast ROI and low total cost of ownership. 

Main Office 

281 Cambridge Science Park 

Milton Road 

Cambridge CB4 0WE 

Tel: +44 (0)1223 479479 


London - Tel: +44 (0)20 7002 1619 

Philadelphia - Tel: +1 610-941-2780 

Paris - Tel: +33 1 45 26 59 37 

Singapore - Tel: +65 6725 6503 

Geneva – Tel: +41 22 8691000 


Aleris 

Asarco 

BGC 

Cotton Distributors Inc 

Dunavant 

HSBC 

Louis Dreyfus 

Commodities Suisse SA 

Malteurop 

Marex Commodities 

Metinvest 

 

 

 

 

 

 

 

 

 

 

 

Website http://www.bradyplc.com 

Mitsubishi 

Novelis Inc. 

Prysmian Group 

Standard Bank 

Sucden Financial 

Toyota Tsusho Metals 

Trafigura 

Rio Tinto Alcan 

Rosbank 

Telf AG 

Xstrata Copper 




Calypso, Version 11.1.04 

Calypso 

595 Market Street, Suite 1800 

San Francisco, 

CA 94105, USA 



Calypso are well known in financial markets and offer 

support for commodities. 


Calypso Technology is a global financial software and 

services company delivering integrated cross-asset 

solutions for trading, risk, processing and control. 

They serve a broad spectrum of customers including sellside 

financial institutions such as banks and prime brokers, 

buy-side firms such as asset managers, hedge 

funds, insurers and corporates, as well as treasury services 

providers including exchanges and service consortiums. 

Founded in 1997, Calypso brought together capital markets 

knowledge from London, Paris and New York with 

technology knowledge from Silicon Valley. 

Today - with 120+ top tier customers (including 8 of the top 

10 global banks), 18,000+ users, 500+ dedicated staff and 

15 offices worldwide - Calypso is well recognized for 

its product innovations and strong customer 

service culture. 

Calypso solutions cover a range of general and specific 

categories. While many customers use Calypso as acrossasset 

front-to-back office system, they are many who are 




more specialized derivatives-only, treasury-only, flow 

trading, desk-level risk, enterprise risk, liquidity 

management, collateral management, central counterparty 

clearing, OTC margining, valuation services, and processing 

services. 

All solutions run on Calypso’s single integrated cross-asset 

platform which incorporates the full complement of 

functional layers from trading activities in the front office, 

to risk management and control in the middle office, 

through to processing and accounting in the back office. 

Solutions 

 

 

 

 

 

 

 

 

 

Cross Asset Front-to-Back 

Derivatives 

Treasury 

Flow Business 


Clearing Member Firms 

Central Clearing 

Valuation Services Platform 

Front Office Decision Support 

Main Office 

2595 Market Street, Suite 1800 

San Francisco, 

CA 94105, USA 

Tel: +1 415 817 2400 


New York - Tel: +1 212 905 0700 

London - Tel: +44 20 7826 2500 

Brighton - Tel: +44 (0) 1273 806 350 

Paris - Tel: +33 1 44 50 13 99 

Frankfurt – Tel: +49 69 920389 0 

Johannesburg – Tel: +27 11 881 5708 

Copenhagen – Tel: +45 33 37 71 79 

Moscow– Tel: +7 495 663 80 63 

Tokyo – Tel: +81 3 5214 1800 

Singapore – Tel: +65 6372 1121 

Sydney – Tel: +61 2 8249 8115 

Mumbai – Tel: +91 22 6681 5600 

Chennai – Tel: +91 44 4347 5350 

Hong Kong – Tel: +852 3478 3796 


Banca Akros 

BNP Paribas 

Busan Bank 

Citi 

Commerzbank 

Credit Agricole 

Credito Agricola ERSTE 

Front Point 

HSBC 

HypoVereinsbank 

Rabobank 

Royal Bank of Scotland 

Record Currency 

Management 

RMB 

Societe generale 

TD Securities 

Industrial Bank of Korea 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ING 

Investec 

LBBW 

LCH Clearnet 

Lukas Bank 

Mizuho 

Master Trust 

National Australia Bank 

Natixis 

Xstrata Copper 

Standard Bank 

Suntrust 

Toyko stock exchange 

group 

Westpac Institutional 

Bank 

The Sumitomo Trust 

and Banking Company 

Website 

http://www.calypso.com 




The Bulldog, Version 3.0 

Comfin Software & Consulting Services Gmbh 

Wollzeile 6-8 

1010 Vienna, Austria 


\ 


Comfin came to CommodityPoint’s attention last year 

as a result of a mention the company got in the 2009 

Vendor Perception study. While they did not rank in 

that study, ComFin does have a significant presence in 

the market for crude oil and products and it has been 

significantly more visible in the market over the last 12- 

months. 


ComFin is a JBC Vienna GmbH company. TheBullDog CTRM 

software solution was first developed in 1999 by PVM 

Vienna. ComFin was created in 2005 to support and market 

the software as a subsidiary of PVM Vienna which was itself 

restructured in 2008 and renamed to JBC Vienna. 

ComFin provides software solutions and consulting services 

to the commodity and energy industries. ComFin’s 

TheBulldog software supports trading, trade 

administration, operations, risk management, back office, 

finance, storage, logistics, and reporting for companies in 

the crude oil, chemical, petrochemical, soft commodity, 

shipping, and refined product industries. It covers both 

physical transactions and paper instruments. 




TheBulldog provides automatic market quote downloads 

from data vendors and exchanges such as Platts, Argus, ICE, 

and NYMEX. 

ComFin offers several software components as follows: 

TheBullDog Oil – A fully fledged CTRM solution that 

incorporates; 

o Deal capture 

o Analysis, operations and administration 

o Inventory management 

o Limits management (trading, credit) 

o Risk management (positions, stress testing, VaR) 

o Control and full audit trails 

o Automatic market data download (Platts, PVM 

Forward Curves, Imarex, etc.) 

o Invoice management 

o Interfaces to 3rd party systems (SAP, Navision, etc.) 

 

TheBullDog Marine - A module that provides the 

functionality required by shipping companies including 

derivatives. 

TheBullDog Agriculture – A module for producers and 

manufacturers of agricultural commodities 

 

TheBullDog Finance – A module that covers the 

treasury function. 

ComFin also offers a variety of consulting services in the 

following areas: 

Integration and interface solutions (e.g. to 3rd party 

systems like SAP, Navision) 

Market data access & data download services 

Correlation and volatility calculations 

Risk management metrics 

Time series analysis 

Hedge accounting and efficiency tests (IAS 39) 

Main Office 

Wollzeile 6-8, 

1010 Vienna, Austria 

+43 1 513 4704 


Singapore +65 682 313 24 


A.P. Moller – Maersk, Denmark 

Basf Intertrade, Switzerland 

Deltagrip Limited, Uk 

Grupa Lotos, Poland 

Petrogal, Portugal 

Petrosa, South Africa 

Rompetrol, Romania 

Sasol Oil, South Africa 

Torm, Denmark 

Litasco, Switzerland 

Enoc, Dubai 

Petrol Ofisi, Turkey 

Teekay Shipping, Canada 

Ptt, Thailand 

Overseas Shipholding Group, Usa 

Gazprom Neft Trading, Austria 

Essar Oil, India 

Vector Energy, Switzerland 

Hindustran Petroleum Corporation, India 

Oando Plc, Nigeria 

Argos Groep, The Netherlands 

Website 

http://www.comfin.net 




Constellation, version (not specified) 

Constellation of Energy Solutions 

123022, Moscow, 

st. 1905 года, д.7 стр.1 

1905, 7 p. 1 

Russia 



Constellation of Energy Solutions came to 

CommodityPoint’s attention in early 2010. Analyst 

coverage has only recently been initiated. 


Constellation of Energy Solutions has its origins going back 

to 2002 and the foundation of the Institute of Energy 

Systems in Russia. It was founded in February 2006 as a 

satnd alone entity however. 

The company developed an Energy Trading software 

solution for Russian manrkets called “Sozvezdie” or 

Constellation. It provides implementation services, 

consulting services for Russian power markets and 

software development services in addition to the product. 

Today, it has around 40 clients and comprises around 40 

staff. It is the main provider of Energy Trading software in 

Russia holding more than 60% of the market including two 

out of three foreign investors in Russian power markets 

and 27% of all power traded is traded using its software. 




Having been developed in relative isolation for Russian 

power markets, Constellation looks a bit ifferent to western 

ETRM solutions and comprises modules for the following 

functions; 

 

 

 

 

 

 

 

 

 

 

 

Data Gathering 

Business Analysis 

Equipment Management 

Marginal Cost Analysis 

Commercial dispatch 

Price Forecasting 

Energy Trading (Deal Capture) 

Bid Formation 

Maintenance Planning 

Data Validation 

Consumption Forecasting 

The Constellation solution combines power trading and 

logistics functionality with operations functionality such as 

dispatch, maitenance planning and load forecasting. It is a 

utility-centric and physical power – oriented solution. 

Main Office 

123022, Moscow, 

st. 1905 года, д.7 стр.1 

1905, 7 p. 1 

Russia 

Tel: - 7 (495) 989-1470 


None 


E.On 

Enel 

OGK-1 

OGK-2 

OGK-4 

TGK-9 

Generating Company 

TGK-11 

JSC Concern Energoatom 

Sibirenego 

Siberian Coal Energy Company 

IES Trading 

TransneftServis C 

Solvin 

Website 

http://www.sozvezdie.net 




enTrader, version 1.6.0.3 

Contigo Ltd 

Blythe Valley Innovation Centre 

Central Boulevard 

Blythe Valley Business Park 

Solihull, West Midlands, UK 

B90 8AJ 


\ 


Contigo is a relative newcomer to the CTRM software 

arena; although this UK-based software and 

consultancy firm has been offering custom 

development for some time. 

In 2009, Contigo began marketing a set of products 

that it had progressively developed via its custom 

software business. It has enjoyed recent success and 

now has several clients for its product. 


Contigo is a leading provider of trading and logistics 

software products for the energy industry. Based in 

the UK, it has developed the 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 was founded by a group of IT experts who had 

worked in the UK energy trading sector. 

The EnTrader product suite includes: 




EnTrader – an energy trading application that supports 

cross-commodity deals for power, coal, oil, gas, and 

biomass. It includes modules for billing and payments, 

service contracts, and connecting to trading exchanges. 

EnVoy – EnVoy supports UK power industry notifications to 

Elexon and National Grid. Management of ECVN, Physical 

Notification (IPNs / FPNs) and Bid-offer data submissions is 

provided. It can be integrated with EnTrader or any other 

ETRM solution. 

EnVoy Interruption - provides UK Gas Shippers with the 

capability to manage the process around bids for 

interruption, and handle all data flows related to 

Interruption Reform. 

EnVision - brings together reporting, online analytical 

processing (OLAP) and data mining capabilities targeted for 

the energy and utility industries. 

EnPrice - a comprehensive costing and pricing engine 

designed for the electricity, gas and dual fuel NHH and HH 

retail markets. 

Main Office 

Blythe Valley Innovation Centre 

Central Boulevard 

Blythe Valley Business Park 

Solihull 

West Midlands 

B90 8AJ 

+44 (0)8458 386848 


Centrica 

EDF 

E.On. UK Trading & Power Technology 

Scotia Gas Networks 

Scottish & Southern Energy 

Wingas UK 

Website 

http://www.contigo.co.uk 

Contigo offers Entrader on a traditionally licensed, hosted 

or SaaS basis. 

Contigo continues to offer a variety of consulting services 

including application development, mathematical modeling 

and optimization, business intelligence and general 

consultancy. 

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GasPro, Version 5 

Data Management Solutions Corp. 

707 Hunters Creek Way 

Hockley, TX 77447 



DMS registered on the 2009 CommodityPoint Vendor 

Perception study for unprompted brand recognition in 

North America only and was 20 th in North America on a 

prompted basis. 

The company is a relatively low key, Houston, Texasbased 

vendor specializing in the North American 

natural gas markets, but has a long history of delivery 

having been founded in 1993. Their client base includes 

producers, gas trading organizations, and LDC/Utilities. 

Their products are primarily delivered in a hosted 

environment. 


GasPro is marketed by Data Management Solutions 

Corporation (DMS). GasPro provides a front-to-back gas 

management system with operational functionality 

designed to assist personnel involved in the process of 

trading, scheduling, tracking, storing, accounting and 

reporting natural gas transactions. Transactional 

information flows in real-time through front, middle and 

back offices. 

GasPro includes a number of modules as follows: 

Source Information - Provides a "Dashboard" 

presentation for the critical components in managing 

transactions. 




 

 

 

 

 

 

 

Physical Market - A set of processes designed to 

manage all gas transactions. 

Financial Market -A solution for managing risk that 

maintains a direct tie to the physical books. 

Controls/Compliance -Preventative, detective and 

corrective Sarbanes-Oxley Compliance. 

Security - Administrator defined user access controls 

from view-only to limited to full rights, as well as by 

screen level 

Advisories – Event, User or Specific driven alerts 

Accounting -Functionality to record, control and 

analyze every transaction. 

Reports - GasPro offers comprehensive reporting tools 

to create everything from ad-hoc reports to industry 

standard reports. 

Special services available include 

Platts, ICE, EDI Nominations, SCADA 

Nightly uploads, extracts, snapshots 

GasPro may also be deployed with the following 

components: 

Legal Entities - A consolidated location for storing all 

information regarding 3rd Parties including corporate 

billing information, contacts, banking information, 

business types, and reference numbers. 

Locations - A single reference location for all 

information pertaining to the pipelines, including 

points, groups/mids/zones, matrices and tariff 

information. 

Contracts - A tool for tracking every type of gas related 

contract (including purchases, sales, GISB/NAESB, 

linked purchases, exchanges, 

 

 

 

transportation, storage, OBA's, and imbalance). Allows 

tracking of MDQ's, demand and commodity charges, 

injection/withdrawal/in-place charges and to set up 

any specialized billing information and notes. 

Categories - A specialized tool to allow for userdefined 

groupings of data that can be used to create 

company specific cost reports. 

Accounts - Allows user-defined, FERC compliant, GL 

accounts for financial reporting (assets, liabilities, 

expenses, revenues and equity) to be created. 

Account Links - Create user-defined linkages to 

determine into which accounts various transactions 

and transaction types will fall. This provides the ability 

to define splits based on LE, contract, point, color, 

type, rate, component, action, service, etc. It also 

provides the ability to split to multiple accounts based 

on percentages. 

GasPro is a hosted Internet delivered system supported by 

DMS’ IT support staff on a 24 X 7 basis. The gas 

management system is offered on a User License basis on 

either an ongoing monthly fee or a one-time fee basis. 

Main Office 

707 Hunters Creek Way 

Hockley, TX 77447 

Tel: 281-516-9435 


None 


"LDCs and gas marketers in North America" 

Website 

http://www.dmshouston.com 




ET3000, ET3000RM, DeltaXE, E!nvestigate 

Delta Energy Solution AG 

Peter Merian-Strasse 90 

CH-4052 Basel 

Switzerland 



Delta Energy Solution registered in the 2009 

CommodityPoint Vendor Perception study in the first to 

mind category by virtue of its position in Europe where 

it ranked 12 th . 


Delta was founded as a public corporation under Swiss law 

in Basel in 1999. The majority of its shares are held by 

members of the Managing Board. The objective of Delta is 

to supply software and render services for the energy 

market. 

Delta Energy Solution AG develops and distributes software 

for the energy industry and offers associated services. 

Delta’s products ET3000® (Energy Trading 3000®) and 

ET3000RM (ET3000 Risk Management), automate most 

transactions commonly performed in the energy sector. 

The system can be configured for all aspects of the power 

industry (grid operation, trade, production, distribution). 

Delta regularly offers new releases taking account of 

topical issues and innovations in the fields of portfolio, 

schedule, distribution and meter management as well as 

energy trading, sales and risk management. 




ET3000 helps users to efficiently carry out ever more 

complex business processes at the trading desk, in 

distribution and in grid operation. ET3000 is specifically 

designed for scheduling and balance management, 

portfolio management, trading, capacity management and 

meter management by energy suppliers. The software can 

be configured for use by (sub-)balance group managers, 

transmission system operators and control block managers. 

ET3000RM offers, for example, standard evaluation 

methods for Value-at-Risk (VaR), simulation-based Profitat-Risk 

(PaR), Mark to Market valuation as well as an 

integrated Hourly Price Forward Curve generator. In 

addition, it supports export/import from and to Excel to 

display time series in a variety of formats, and to import 

diverse market data, such as an external HPFC risk set (PaR) 

from Excel. 

ET3000 includes: 

 

 

 

 

 

A Contract Management module to configure all 

contract types (trading contracts, capacity 

contracts,production and retail) on the basis of 

workflows and enter them with the correct time zones. 

Integrated Capacity Management to manage energy 

positions individual markets and available cross-border 

capacities. 

Customizable Workfolders to align and plan long-term 

activities in markets. Capacities can be pre-nominated. 

A module for planning and scheduling that allows users 

to align and balance the day-ahead market along with a 

position screen to show positions for a specific market. 

Communication services to allow schedule messages to 

be defined and processed for dispatch to the TSO; the 

processing of messages can be performed 

automatically or manually. 

Main Office 

Peter Merian-Strasse 90 

CH-4052 Basel 

Switzerland 

Tel.: +41 (061) 270 84 40 


None 


Citiworks 

E.On 

Enercity 

ewe 

ewz 

LichtBlich 

MVV Energie 

Statkraft 

Swissgrid 

Vattenfall 

Website 

http://www.delta-energy.ch 

Delta offers its product on a traditionally licensed basis and 

can offer SaaS via Cytrix. 




EKA, Version 8 

Eka Software Solutions Pvt Ltd 

16/1 "Wings", 3rd Floor 

Cambridge Road, Ulsoor, Bangalore 560008 

India 



Eka is better known in Europe and Asia/Pacific where it 

was ranked 17 th for unprompted brand recognition in 

CommodityPoint’s 2009 Vendor Perception Study. It 

was ranked as a perceived market leader in Agricultural 

Commodities and Precious and Base metals 

. 

The product was also ranked among the perceived 

market leaders serving the Agricultural and Base 

Metals Commodities segments, its architecture, 

service/support and ASP delivery capabilities. 


Eka was founded in 2004 and is based in India. It started life 

providing TRM solutions in the agricultural commodities 

space and has subsequently migrated to cover metals and 

some energy commodities too. The company employs 210 

staff mainly based in Bangalore but has recently opened 

sales offices in the UK and USA. 

The Eka Commodity Trade & Risk Management (CTRM) 

Solution covers the complete lifecycle of both physical and 

financial commodity contracts. 

EKA.Agriculture provides a single platform for managing 

operations across coffee, cocoa, sugar, cotton, orange 

juice, tea, Grains [Wheat, Soya, Maize, Rice, Barley, etc], 

Feeds, Edible oils, Oilseeds, Livestock, and other Agri-based 




businesses. The solution is intended to meet the needs of 

the different participants in the supply chain, including 

trading houses, elevators, distributors, processors, 

exporters, farmers and importers. 

Eka.Metals provides a solution for managing trade in base 

metals and concentrates. It covers the complete life cycle 

of both physical and financial commodity contracts, 

covering physical trading, derivatives, position 

management, mark to market and P&L, logistics, stocks, 

documentation, finance and reporting. The system 

manages the complete lifecycle of physical and derivative 

trading for all LME and Comex traded base metals 

(Aluminum, Aluminum Alloy, Copper, Zinc, Lead, Nickel and 

Tin). Eka also provides solutions configured for 

Concentrates and Ferro alloys, LME and NYMEX futures in 

steel, and for the metal scrap and recycling industry 

Eka.Energy is a comprehensive trading and risk 

management software solution that offers traders of crude 

oil, refined products, bio-fuels and coal an unmatched 

solution focused to manage the entire trade life-cycle 

including detailed management of logistics operations and 

physical inventory. 

EKA’s CTRM solution is also configured to manage the 

requirements of marketers, consumers and processors in 

the Energy Industry. The scope of this solution covers the 

procurement of raw material, transportation and storage, 

price risk management with futures and options, mark to 

market and P&L calculations, as well as sales and 

distribution of the finished product. Currently, the system 

supports Crude oil, Products, Coal, biofuels and ethanol. 

Main Office 

16/1 "Wings", 3rd Floor, 

Cambridge Road, Ulsoor, 

Bangalore 560008 

India 

+91-80-41715949 


London: +44 208 943 3834 

Connecticut, USA: +1 203 810 4250 

Selected Clients 

AWB 

Garmco 

LouisDreyfus 

Medsofts 

Noble Group 

Remia 

Superior Essex 

Traxys 

Tristao 

Web site 

http://www.ekaplus.com 

Eka offers it software as traditionally licensed and hosted 

solutions. 

As a relatively new entry into CTRM software, Eka has 

taken advantage of newer technologies and architectures 

from which to build its product suite. Eka’s multi-tiered 

architecture is comprised of a front-end user interface 

layer, a middle layer of business logic, a back-end 

persistent (database) layer, and an embedded reporting 

tool. 




EMK3 Upstream, Version 9.1 

EMK3 

400 Mann St. 

Suite 700 

Corpus Christi, TX 78401 



EMK3 supplies software in the producer segment of the 

industry and, according to our research, has some 

degree of prompted brand recognition in North 

America in line with its relatively limited segment and 

geographic coverage. 


EMK3 was founded in 2000 to provide solutions designed 

specifically for oil & gas producers, marketers and first 

purchasers. EMK3's software manages all upstream 

marketing, gathering, and transportation activity from the 

well to the sales points. 

EMK3 offers two application suites designed specifically for 

energy companies that produce, gather, transport, process, 

and market oil, natural gas, and NGLs; EMK3 Upstream – an 

upstream marketing application suite for producers, 

marketers, and first-purchasers and EMK3 Midstream – a 

pipeline operations application suite for gathering and 

transportation system operators. 

EMK3 Upstream is an energy marketing application suite 

for Oil, Gas and NGLs, starting at the wellhead. The EMK3 

Upstream application suite comprises a number of modules 

that can be combined to provide a complete marketing 




application solution suited for small to mid-sized 

independent producers to large integrated oil and gas 

companies. The modules include: 

 

System Administration and Internal Controls – Basic set 

up information for the system. 

EMK3’s software is built on a technology base that 

incorporates XML and web services and is entirely webbased, 

offering simplified deployment and maintenance. 

EMK3's application suites use Microsoft's Windows 2003 

Server for the operating system platform Microsoft's SQL 

Server 2005 as the data repository and database engine. 

 

 

 

Market Data Module - Monitors key oil, gas and NGL 

pricing information for both US and Canadian markets. 

Oil & Gas Supply Module - Stores basic supply point 

information for wells, tanks, and meters. 

Transportation & Gas Control Module – Scheduling and 

nomination management. 

Main Office 

400 Mann St., Suite 700 

Corpus Christi, TX 78401 

+1-361-881-9326 


Houston, Texas: 281-895-8198 

Dallas, Texas (Sales & Support): 972-267-3653 

Contract Administration Module – Contract 

management. 

 

 

 

Revenue Reporting & Analysis Module - Captures all 

data used for revenue and expense calculations and 

provides critical internal controls for information 

management. 

Marketing Activity Module - Tracks all oil and gas 

marketing activity. 

Credit Module - Monitor vital credit activities. 


Linn Energy 

Eni 

Petroleum Development Corp. 

Bill Barrett Corp. 

Anardarko Petroleum 

Kerr-McGee 

Torch Energy 

Website 

http://www.emk3.com 

 

Hedging Module - Accommodates typical hedging 

activity by oil and gas producers. 




EnCompass Energy Suite, Version 6 

Encompass Technologies, Inc. 

#1010 444 5th Ave S.W. 

Calgary, AB T2P 2T8 



EnCompass was equal 13 th in the first to mind category 

in North America in CommodityPoint’s 2009 vendor 

perception study and also ranked in the prompted 

name recognition category. It was ranked among the 

market leaders in Natural Gas, for use by Brokers and 

End User businesses, for implementation and 

integration. 


Established in 1993, EnCompass Technologies Inc. is 

focused on the delivery of energy transaction and risk 

management solutions to the energy trading industry. 

Its product, the EnCompass Energy Suite, is a fully 

integrated multi-commodity and FX transaction 

management system covering the entire transaction lifecycle 

from capture through confirmation, operations, 

settlement and risk management. Beginning with the 

capture of transactions, through confirmations, operations, 

risk management and ending with invoicing, EnCompass 

handles transactions that cover the full spectrum of types 

and commodities. 

 

Operations, risk management, credit management and 

settlement. 




 

 

 

 

 

 

 

 

 

Manages any commodity with hourly, daily or monthly 

delivery 

All units of measure supported within a particular 

commodity (both energy and volume), with 

appropriate conversion factors 

Handles any commodity using delivery profiles (e.g. 

power), and all associated impacts of time zones and 

daylight savings 

Supports any commodity with grades (crude oil, natural 

gas liquids) 

Allows segregated management of multiple legal 

entities from transaction capture to invoicing and risk 

reporting 

Fully multi-currency, with exchange rates managed at 

multiple levels in the system 

Manages all components of commodity risk, including 

FX exposure and interest rates 

A choice of Value at Risk models and custom scenario 

capabilities allow you to measure the risk associated 

with your business under a variety of market 

conditions. 

Complete and detailed P&L explained and back-test 

capabilities provide daily explanations of the change in 

book value by risk factor (e.g. commodity prices, 

exchange rates, interest rates, new deals, deal edits 

etc.) 

Main Office 

#1010 444 5th Ave S.W. 

Calgary, AB T2P 2T8 

Tel - (403) 237-7740 


None 


The majority of EnCompass’s clients are located in North 

America. 

Website 

http://www.encompass-technologies.com 

EnCompass offers its software on a traditional licensed 

basis or annual licensing. 

EnCompass is delivered on a service-oriented architecture 

to ensure flexibility and scalability. 




XDM Suite, Version 1.6 

Energeya LLC 

914 Shaw Circle 

Melbourne FL 32940 USA 



Energeya is a relatively new company that has a strong 

emphasis and position in the Italian energy markets. 

The company has indicated that it is now seeking to 

expand into Europe and North America. 


Energeya was founded in 2008 to provide software 

solutions to world energy markets. It has a number of 

clients in Italy and Europe but is headquartered in North 

America. 

The company's XDM suite of software includes a number of 

modules designed to provide a straight through processing 

solution for gas, power and renewable. 

The XDM suite is comprised of: 

 

 

XDM Core - The base set of infrastructure components 

of all solutions based on XDM Suite. 

XDM Quote - Provides a Formula language for creating 

and executing complex pricing formulas and algorithms 

which can be used to create price and market trend 

analyses. 




 

 

 

 

 

XDM Curve – A solution for time series data 

management including price curves. 

XDM Contract Management – Allows capture of 

contract information. 

XDM Trade Italia - Provides companies who operate on 

the italian electric market with a full set of features to 

support the local contract management processes. 

XDM Trade Europe – Supports contract management 

processes in the areas of portfolio physical balancing 

and energy scheduling/nominations. 

XDM Brokers - Enhances Contract Management 

functionalities in XDM by adding automated 

integration with front-end deal capture systems based 

on Trayport's GlobalVision solution. 

XDM Gas – Extends Contract Management 

functionalityy to support gas wholesalers with a gas 

contract and process management system. 

 

 

 

XDM Settlement – A solution for commodity contract 

evaluation, settlement and transaction management. 

XDM Risk - Provides a set of tools for evaluation of risk 

exposure. 

XDM Forecast - Introduces an innovative approach to 

defining and executing forecasting activities. 

Though a relatively new vendor, Energeya already has a 

number of clients on its platform particularly in Italy. It also 

incorporates a business consulting division that has 

knowledge of local European markets such as the Italian 

energy market and it differentiates itself partly on its local 

market knowledge. Energeya currently serves Italian and 

European major utilities, as well as mid-sized companies. 

Main Office 

914 Shaw Circle 

Melbourne FL 32940 USA 


Via G. Ferrari, 39 

20052 Monza (MB) 

Italy 

Tel. 02.303123637 


Enel S.p.A. 

ERG Power & Gas 

GME 

Assoutilty S.p.A. 

Alpiq 

Ratia Energie 

Burgo Energia S.r.l. 

Website 

http://www.energeya.com 




GASTAR, Version (Not specified) 

ENSYTE Energy Software International, Inc 

770 S. Post Oak Lane, Suite 330 

Houston, TX 77056 USA 



Ensyte is a specialist provider of Oil & Gas solutions 

based in Houston, TX that has been in business since 

1982. The company's products have been implemented 

globally. 


Configured on a common ORACLE or Microsoft SQL Server 

RDBMS, ENSYTE offers the GASTAR and PRISM application 

suites for managing natural gas, liquids and crude oil from the 

production source to the consumption point. GASTAR is the 

mid and downstream solution for gas marketers, gathering 

pipelines, local distribution companies (LDC) and large natural 

gas end users, power generators, co-generation plants, etc. 

PRISM is the producer’s solution for production and revenue 

accounting including natural gas and crude oil sales, netback 

allocations and regulatory reporting. An international version 

also includes component allocations, scheduling and 

optimization of gas supply with contract volume, energy and 

composition terms. 

Business Associates: Counter parties, contacts, alerts, contact 

role based application security and system code tables that 

are tightly integrated for seamless workflow. 

Credit Manger: Credit authorization for sales counter 

parties/contracts with real time transaction updates as deals 

are entered. 




Contract Module: Contracts for Gathering, NAESB Master 

Purchase/Sales, Pipeline Transportation, Storage, Asset 

Management, Physical Exchange (Put/Call), Agent/Choice, 

Agent/Broker, LDC Transportation, Market Trading Services. 

Pipeline Setup: Operated/non-operated pipelines inclusive of 

tariff/rate management, transaction zones, points, pools and 

interconnects, measurement volume, energy and composition, 

SCADA and instrument interfaces. 

Transaction Accounting and GL Interface: Full tracking of 

AP/AR transactions with month end accrual, invoicing, 

reconciliation, GL account summary and rollup. 

Hedge Manager: A hedge management tool for futures and 

options for any commodity and exchange with mark to 

market, gain/loss and the ability to integrate the financial 

book with a physical book 

Physical purchase/sales and exchange deals: Quick deal 

setup, linked Buy/Sell transactions including transportation for 

margin disclosure, Index pricing with provider interface, 

NAESB confirmations, linked pathing to calculate all delivered 

costs for city gate, pipeline pool WACOG and Storage 

inventory values. 

Gas Scheduling: NAESB compliant scheduling screens with 

integration to EDI for pipeline transportation and customer 

EBB for operated pipelines, LDC and gathering, imbalance 

management, actual and scheduled variance. 

Allocations: Allocation of delivered volumes and energy to 

sources using ‘keep whole’, ‘fill first’, ‘fill equal’ and directed 

allocation procedures. Transportation costs may also be 

allocated to assign direct costs to sources. Comprehensive 

allocation algorithms for oil and gas with component volumes 

carried for gas allocations. 

Division of interest: Well and Lease ownership profiles for 

working and revenue interest parties. 

Production Management: Full field, reservoir and well 

management modules addressing all aspects of standard 

production operations, including water, steam and CO2 floods. 

Measurement Data: Interface to various electronic data 

sources and OSISoft real-time database for tracking SCADA 

and flow control computer output for real-time monitoring of 

gas and liquid flow in high volume installations. 

The GASTAR and PRISM highlights provide a broad 

overview of the functionality available within the integrated 

data model and application programs. Semi-custom version of 

these application programs have been installed for clients in 

the United States, Canada, South America, Indonesia, 

Malaysia, Vietnam, United Kingdom, Norway and Nigeria. 

Main Office 

770 S. Post Oak Lane, Suite 330 

Houston, TX 77056 USA 

+1 713-622-2875 


None 


Not provided. 

Website 

http://www.ensyte.com 

Well Netback Contracts: Unique contract structure for 

handling purchase or sale netback volumes and energy 

allocations with associated costs and revenue. Gas and oil 

settlement calculations, including state severance tax 

reporting. 




Dycotrade, Version (not specified) 

HGH 

Stroombaan 6-8 

1181 VX Amstelveen 

The Netherlands 



CommodityPoint only recently initiated 

coverage of this vendor. 


HiGH Business Consultancy began developing software 

based on Microsoft Dynamics AX in 1997. It was established 

as an independent software vendor in 2009. HiGH Software 

is responsible for the development and sale of 

the DynaRent and DycoTrade industry solutions, both 

based on Microsoft Dynamics AX. 

HGH has been present in the IT market for 20 years. 20 

years ago they appeared on the market as Het Glazen Huis. 

For the last 10 years they have been operating under the 

name HGH in the dynamic and fast-moving world of 

Microsoft Dynamics AX. 

In the course of the past years HGH has successfully 

implemented Microsoft Dynamics AX solution at multiple 

firms within different industries. HGH is an experienced and 

reliable organization possessing knowledge of the market, 

specialized in industry-specific enterprise solutions and 

employing motivated and driven consultants. 

In combination with the optimization that is only possible 

with the advanced support of Microsoft Dynamics, their 




ERP Solutions enable fast and easy management. This 

means that 

Trading, 

Inventory management, 

Transport and Logistics, 

Vendor Managed Inventory 

and Multi-site management, are all possible. 

Microsoft Dynamics allows for enhanced ERP functionality. 

Combined with the industry-specific functionality added by 

HGH, this gives a complete ready-to-use solution for the 

management of business processes. 

Through the years, HGH have become very experienced in 

implementing solutions for customers worldwide. 

Whenever availability and/or support are required from a 

local Dynamics AX partner, HGH can provide them through 

its international partner network. HGH’s partners provide 

local support, for example, configuring of country-specific 

functionalities and/or requirements within a specific 

language area. 

Main Office 

Stroombaan 6-8, 

1181 VX Amstelveen 


+31 (0)20 - 640 3413 


Astronaut 28 

3824 MJ Amersfoort 


+31 (0)33 - 450 8760 


Not provided. 

Website 

http://www.hgh.nl 




Hyper Rig, Version (not specified) 

Hyper Rig Ltd. 

37, Colborn St. 

Bow, London, UK 



Hyper Rig is a relatively new company in start-up 

mode, delivering new technology to the market place 

for risk aggregation. Hyper Rig is a supplement to 

CTRM software. 

CommodityPoint has covered Hyper Rig in a white 

paper issued in 2009 - Breaking Down the Barriers to 

Holistic Risk Management. 


Hyper Rig was founded in 2005 to address the growing 

need for high performance, high quality risk reporting. Its 

solution is not necessarily a CTRM solution but one that can 

and does complement CTRM solutions to provide risk 

aggregation, integration and performance. Hyper Rig Ltd 

provides real time, multi-asset risk management solutions 

to financial companies seeking to proactively manage their 

risk and optimize their trading strategies. 

Hyper Rig is a risk management software solution that 

allows financial service and commodity trading companies 

to proactively manage their market, credit and liquidity risk 

exposure in real time. Designed to be deployed quickly and 

inexpensively, Hyper Rig permits clients to run hundreds of 

millions of risk calculations in minutes instead of hours or 

even days by solving key three problems: data integration, 

data quality and performance. 




Risk aggregation – Provides the ability to see and 

understand their aggregated risk exposures across the 

organization in real time. Hyper Rig is designed to manage 

risk data challenges including multiple data sources, 

different data formats, huge data sets and fragile 

interconnections. It integrates seamlessly with existing 

legacy systems and manages all the workflow and data 

quality issues. Hyper Rig does not aim to replace existing 

cross-asset front- to back-office solutions but to 

complement them by quickly integrating to provide 

complete transparency across systems. Hyper Rigs’ risk 

monitor tool allows users to dynamically drill down to trade 

level and slice and dice across any dimension (counterparty 

risk, credit risk, liquidity risk, market risk, issuer etc) in realtime 

to analyze any outliers or discrepancies. 

Trading Optimization - Hyper Rig provides a range of 

trading strategy optimization decision tools such as pretrade 

simulations to calculate the potential effect on 

positions and P&L from any given trade and ensure a 

correctly hedged portfolio in real time. 

Real-time Risk Monitoring – Hyper Rig provides the ability 

to continuously monitor in real-time, on demand or end of 

day so that CRO’s can run a complete system reconciliation 

to identify exceptions across multiple systems, books and 

check trading limits. 

Asset Counterparty - Hyper Rig can aggregate OTC 

exposures across systems and business lines to perform the 

complex full blown Monte Carlo risk simulations for very 

large vanilla and exotics trading books quickly (in a matter 

of seconds and not hours) enabling institutions to compute 

and monitor risk limits on a pre-trade basis. 

Stress Test - With Hyper Rig, users can stress test any risk 

factor or combination of risk factors (any variable whose 

value will affect the valuation of the book such as interest 

rate, index, oil price etc.) and assess in real-time the impact 

of any market event. 

Hyper Rig utilizes patent pending technologies to perform 

stochastic risk calculates faster and to allow integration 

quickly. 

Main Office 

37, Colborn St. 

Bow, London, UK 

+44 789 059 0944 


India 


BushCo Natural Resources 

Navitas Resources 

Website 

http://www.hyperrig.net 




iOPT, version 6 

IRM (An OpenLink Company) 

Wienerbergstr. 31-39 

A-1120 Vienna 



IRM is an OLF company and as such it was included 

under OLF in the 2009 Vendor Perception study – 

please see OLF listing for more details. 


IRM began commercial operations in 1999 with 11 

employees. The company quickly established itself as a 

leading solution provider in Europe with more than 60 

clients and a staff of over 120. It was acquired by OLF in 

2007. 

It markets the iOPT Suite which includes iOPT_COMMONS, 

iOPT_PRO, iOPT_OPT and iOPT_TRADE as well as 

iOPT_SALES. 

iOPT_COMMONS combines a set of functionalities available 

in each of the four large system applications. The business 

connector is the basis on which all business process 

fundamentals are parameterized. iOPT_COMMONS 

controlls and supports 

 

 

Central management of master data and business 

model information 

Process automation, monitoring and alarms 




 

 

 

Flexible time series management and formula 

management 

Sophisticated reporting system 

Standardized interfaces for smooth integration into the 

enterprise infrastructure 

Companies trading in energy or producing / converting 

energy can use iOPT_OPT’s optimization models to 

maximize revenues and minimize costs. 

 

 

The main emphases are put on efficient utilization 

planning and optimum use of physical and financial 

portfolio assets, hedging against investment risks and 

maintenance scheduling, profitability analyses of 

portfolios as well as sensitivity analyses for system 

parameters such as market prices. 

iOPT's OPTIMIZATION SCENARIO MANAGEMENT (OSM) 

offers an integrated system framework to handle 

several scenarios of input data including their 

comparison. It is used for what-if analyses, stress 

testing, price simulations, … 

The iOPT_PRO forecasting application enables the 

estimation of developments of the (gross) load, price and 

inflow forecasting parameters with different models and 

methods support planning horizons from the next few 

hours up to several years. 

iOPT_SALES provides optimal support for wholesale 

distribution and the handling of complex multi-commodity 

requests. iOPT_SALES covers process support in sales 

trading and transfer pricing, contract management for 

multi-commodity structures and scenario comparison and 

contribution margin accounting. 

iOPT_TRADE is the trading and portfolio management 

system of the iOPT family. By fully supporting all front-, 

middle-, and back-office functions, it covers the complete 

value chain of enterprises. iOPT_TRADE includes contract 

registration and handling in different markets. Integrated 

interfaces to information services and power exchanges 

permit prompt and secure trading, fully supported by a 

powerful portfolio and cross-commodity risk management 

system. Back-office and schedule management functions 

prepare and provide any necessary reports in accordance 

with international standards and applicable regulations. 

Main Office 

IRM Intergriertes 

Ressourcen 

Management GmbH 

Wienerbergstr 31 – 39 

A-1120 Vienna 

Tel: +43 1 81 130-0 


See OLF listing 


 

 

 

 

 

AXPO 

CURRENTA 

Eni Power 

RheinEnergie Trading GmbH 

Shell Energy 

 

Website: 

http://www.irm.at 




iTrade, Version 2 

iRely 

344 New Albany RD 

Moorestown, NJ 08057 



iRely’s focus on Ags means that CommodityPoint’s past 

energy centric research has not previously registered the 

company. 

We expect to complete research in 2010 on non-energy 

commodity TRM vendor perceptions that will allow us to 

initiate effective coverage. 


iRely specializes in Commodity Trading and Risk 

Management Solutions for Agricultural commodities like 

coffee, sugar, cocoa, grains, feeds, cotton, spices, tea, 

blended and packaged food products. iRely consists of 

125+ co-workers globally with locations in USA and India. 

The company expects to start European operations this 

year. 

With its recent acquisition of Summit software in the US, 

iRely added over 350 customers specializing in software for 

grains elevators and co-operatives, processors, exporters, 

bio-fuel processors, risk managers and distributors. 




iRely covers following high level functionality for 

agricultural commodities: 

• Contract Management 

• Futures Management (Price Fixing, Hedging, 

Discretionary Futures) 

• Allocations 

• Position Management 

• Risk Management 

• Mark to Market 

• Traffic/Logistics Management 

• Inventory Management 

• Warehouse Management 

• Blend Management 

• Quality Management 

• Traceability 

• Claims Management 

• Sampling and Approval 

• Currency Management 

• Costing 

• Finance Management 

• Alerts and Reminders 

• Extensive reporting with drill down capabilities. 

Main Office 

344 New Albany Rd 

Moorestown, NJ 08057 


Fort Wayne, IN, USA: 1.800.433.5724 

Bangalore India: +91.80.41122584 

Cochin India: +91.484.4043982 


• TATA COFFEE LTD 

• Suiker Exports N.V. 

• Eight O'Clock Coffee 

• Bernhard Benecke Coffee GmbH 

• BLASER TRADING AG 

• Harris Freeman & Co. LP 

• J.Th. Douqué's Koffie B.V 

• Equatorial Traders Ltd 

• CTCS Group 

• Gabesco Italia 

• List & Beisler GmbH 

• Maximus Coffee Group, LP 

• Lansing Trade Group, LLC 

• B4GRAIN 

Website 

http://www.irely.com 




iRISK, Version (not specified) 

iRisk 

Tordenskioldsgate 6B 

N-0160 OSLO 

Norway 



iRisk ranked only in Europe on a first to mind basis in 

CommodityPoint’s 2009 Vendor Perception study where 

it was rated 12 th along with several other companies.. 

Coverage of iRisk was initiated in 2009 by 

CommodityPoint. 


iRisk was founded in 2003 to offer risk management 

software and consultancy services to trading organizations. 

It’s software solution – iRISK Manager – is a portfolio 

system designed to allow users to measure and control 

risks and exposures using a variety of methodologies. 

iRISK Manager handles multiple commodities and 

associated derivatives to enable users to perform: 

 

 

 

Value at Risk analysis; 

Scenario building and stress testing; 

Exposure monitoring including hedge position, 

derivative and net exposure. 




iRISK Manager also includes coverage of: 

 

 

 

 

 

A range of derivatives such as futures, forward, A 

range of derivatives such as futures, forward, 

contracts; 

Portfolio reporting and tracking; 

Book and portfolio organization; 

Tracking of trading and hedging strategies; 

Complete audit trail. 

iRisk also provides a data management tool – iRISK 

Analyzer - as well as risk management consulting services. 

Main Office 

Tordenskioldsgate 6B 

N-0160 OSLO 

Norway 

+47 95 70 48 13 

Other Office Locations 

Moscow 


JB Ugland Shipping 

Motia 

Rexam 

Website 

http://www.irisk.no 




ContraXcentral, Version 4 

JustCommodity Software Solutions 

22 North Canal Road #03-02 

Singapore 048834 



CommodityPoint initiated coverage of JustCommodity 

in 2009. 


Singapore-based JustCommodity provides a CTRM solution; 

ContraXcentral, with particular emphasis on food and 

agricultural commodities. 

ContraXcentral is a contract management and execution 

software suite, designed to support the needs of 

commodity trading houses. ContraXcentral Palm Oil is built 

with expert Palm Oil domain knowledge, incorporating 

current industry practices and regulations including rules 

from PORAM, MEOMA and FOSFA. The ContraXcentral 

framework is configurable and customizable to suit the 

needs of individual companies. The solution includes: 

Operational Efficiency 

Contract Execution 

Buy/Sell, Forward/Spot Contract Execution 

Document Automation 


Delivery/Collection orders 

International Shipping documents 

Automated MPOA/MPOB/PORAM trade reporting 




Trade Confirmation 

Audit Compliance and Control 

User access control 

Workflow approval management 

Audit and change logs 

Control Risk and Exposure 


Credit Risk Exposure 

Counterparty Sales and Purchase limits 

Market and Material risk exposure 

Value at Risk 

Pre-Deal Analytics 

Trading and Position Management 

Strings, Circles and Washouts 

Overall Group trading activities 

Mark to Market with “live” market prices 

Futures and Derivatives Management 

Margin management 

Convert contracts from Futures to Physical 

Material Hedging strategies 

Settlement alerts and reminders 

Position exposure reports 

Co-ordinate Production and Distribution 

Mill Allocation and Fulfillment 

Dispatch and Collection 

Ocean Voyage Dispatch/Receivables (FOB/CIF) 

Freight Management 

Inventory and Production Management 

Stock Management - drill down reporting by product > 

region >mill. 

Production Planning 

Maximize Plant efficiency through Balance to Sell and 

Materials to cover 

Reports 

Empower Business Intelligence 

Management Dashboard 

Group realised and unrealised Profit and Loss 

Trade by trade analysis 

Trader limit management 

Counterparty exposure management 

Overall stock position management 

Enhance Financial Control 

Financial and Treasury Management 

Accounts Receivable and Accounts Payable 

Financial Reports 

Invoice, Credit/Debit Note and Settlement 

Documentation Generation 

Main Office 

22 North Canal Road #03-02 

Singapore 048834 

+65 6372-4842 


None 


Asian Agri 

CTP Holdings 

Felcr Berhad 

IOI Group 

Sime Darby 

Tropical Oil Products 

Unimills, BV 

Website 

http://www.JustCommodity.com 

JustCommodity offers its product traditionally licensed and 

also hosted. A SaaS offering is planned for late 2010. 

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KYOS PRM, Version2. 4 

KYOS Energy Consulting 

Nieuwe Gracht 49 

2011 ND Haarlem 




CommodityPoint has only recently initiated 

coverage of KYOS. 


KYOS offers specialized advice on trading and risk 

management in energy markets. Their expert team has 

years of experience in quantitative modeling and advisory 

services in commodity markets. Their solutions are 

developed to support decision making, investment 

proposals and risk calculations. They have a broad 

customer base including the major players in the 

commodity markets. KYOS has a clear focus on the 

following areas: 

Products 

KYOS applies sophisticated financial 

engineering 

techniques to energy market cases. A strong theoretical 

background is combined with practical solutions to solve 

day-to-day problems. The offer tailor-made solutions next 

to their standardized models 

Consulting 

KYOS has years of experience in advisory services on 

commodities and commodity related activities. With their 




global focus and broad client base, KYOS has a very clear 

picture of 'best practices' within the industry 

Training 

KYOS organizes numerous workshops, trainings and 

seminars throughout the year. In-depth knowledge on 

energy markets, risk management experience, knowledge 

of the latest concepts and techniques combined with real 

life examples make our courses extremely useful 

for commodity and trading professionals 

KYOS uses financial engineering techniques in energy 

markets. A strong theoretical background is combined with 

practical solutions to solve day-to-day problems. They use 

advanced simulation techniques to incorporate real life 

complexity of market dynamics in useful results. 

KYOS develops standardized first-class tools. Basis for these 

models is a strong theoretical background with a user 

friendly interface. This ensures that customers can use 

KYOS tools in an effective way with actual day-to-day 

problems. These models are tested extensively and used 

throughout the energy industry. The tools are also useful in 

benchmarking results from other (in-house) models. 

Their portfolio of standardized models consists of: 

 

 

 

 

 

 

 

 

KyStore: Storage Valuation Model 

KySwing: Swing Option Valuation Model 

KyPlant: Power Generation & Valuation 

KySim: Forward and Spot Price Simulation Model 

KyCurve: Forward Curve Builder 

KyGasPortfolio: Optimize Gas Portfolio 

KyPowerFundamentals: Expected Power Price 

KyWind: Wind Energy Toolkit 

Over the years they have built numerous solutions, tailored 

to the specific needs of market participants. A strong 

theoretical background is used for practical solutions, 

which can directly be implemented in day-to-day business. 

KYOS often use simulations, as they allow for a flexible way 

to analyze a large number of variables. The results may 

include Value-at-Risk, Earnings-at-Risk, Potential Future 

Exposure (for credit risk) and optimized hedge strategies 

KYOS has core competencies in the following areas: 

Price modeling 

Fundamental price modeling 

Power plant investments 

Load modeling 

Risk calculations 

Value-at-Risk, stress tests, hedge statistics 

Main Office 

Nieuwe Gracht 49 

2011 ND Haarlem 


+31 (0)23 551 02 21 


Vattenfall 

E.ON 

ESBI 

GasTerra 

Enel 

Nuon 

Eneco 

Econgas 

Google 

Worldbank 

European Commission 

Electrabel 

Statoil 

Statkraft 

SPE 

Nidera 

Delta Energy 

NMa 

Taqa 

BKW 

RWE 

PointCarbon 

CEZ 

E.ON Ruhrgas 

Continental Gas Storage 

Essent 

Website 

http://www.kyos.com 




Lacima Analytics, Version (not specified) 

Lacima Group 

1 Berkeley Street 

London 

W1J 8DJ 

UK 



Lacima Group have some level of brand recognition in 

CommodityPoint’s 2009 Vendor Perception Study but it 

has traditionally been viewed as a specialist risk vendor 

as opposed to a mainstream ETRM platform. 

Lacima was also viewed as a perceived market leader 

for market risk. 


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: 

Main Office 

1 Berkeley Street 

London 

W1J 8DJ 

UK 

Tel. +44 (0)20 340 22173 


Houston - Tel. +1 713 353 3949 

Sydney - Tel. +61 (2) 9275 8818 


AGL 

Alinta 

Capital Power 

Centrica 

Gazprom 

Loy Yang Marketing 

Macquarie Bank 

Macquarie Generation 

National Grid 

RWE 

SNCF 

Stanwell 

Website 

http://www.lacimagroup.com 

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 optimise 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 cash-flow market and creditbased 

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 cash-flow-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. 




Murex MX.3, Version (not specified) 

Murex S.A.S. 

8 rue Bellini 

75782 Paris cedex 16 

France 



Murex ranked 11 th on unprompted brand recognition in 

our 2009 Vendor Perception Survey and is marginally 

better known in Europe than North America according 

to that survey. 

It was also ranked as a perceived market leader in 

Crude Oil, Coal, Base and Precious Metals, 

Environmental Commodities, Freight Rates, Weather, 

Financial Transaction Management, and Market Risk 

as well as in the Banking segment, Brokers segment, 

Fund segment, Base metals segment and for support, 

architecture and integration. 


Murex is a provider of trading & risk management solutions 

for multiple asset classes with more than 150 clients 

globally. Its MX.3 platform is also utilized by commodity 

trading firms for both financial and physical transactions 

across a range of commodities. 

The MX.3 commodities module is designed to manage price 

and delivery risks in commodity trading operations. In 

addition to interactive portfolio analysis, MX.3 provides 

global risk and limits management and full processing of 

transactions. 

MX.3 includes functionality in several areas as follows: 




 

 

 

Trading - features the Structured Trade Builder (STB), a 

pricing and structuring framework covering all 

products. Each product can be associated to valuation 

models selected from the Murex analytics library 

(MACS), or from proprietary models integrated by 

clients. 

Portfolio management functions cover scenario 

analysis and hedging. 


o MX Risk Manager: An enterprise-wide risk 

management solution providing risk management 

tools for the management and control of Credit Risk, 

Market Risk and Liquidity Risk. 

o A Compliance & Constraints Server for pre-trade and 

post-trade compliance on a wide variety of rule 

types. 

o MX Collateral Manager: A Margining & Collateral 

Management solution for cross-product collateral 

management and margin trading. 

Processing and Back Office – Includes organization and 

book structures, settlements and confirmations and 

work flows. 

Main Office 

8 rue Bellini 

75782 Paris cedex 16 

France 

Tel: +331 44 05 32 00 

E-mail: energy@murex.com 

Other Offices 

Not provided 

Representative Customers 

Not Provided 

Website 

http://www.murex.com 

Murex offers other software modules that can be added on 

including MX Asset Manager and Asset Manager. 

The MX.3 platform utilizes a distributed n-tier architecture 

resulting founded on a fault-tolerant infrastructure. It 

implements a layer of generic business components upon 

which specific applications are built and provides 

accessibility equally through either an efficient rich client or 

through language-independent XML-based APIs. 

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Pomax, Version 9 

Navita Systems AS 

P.O. Box 154, NO-1751 

Halden, Norway 



Navita was ranked 9 th overall in CommodityPoint’s 

Vendor Perception study on an unprompted basis. It is 

better known in Europe where it was ranked 5 th on the 

same basis and 11 th in North America. Navita was also 

ranked as a perceived market leader for Natural Gas and 

Electric Power. 


Navita and its POMAX product have their origins in the 

creation of NordPool in 1988 and the Institutt for 

Energiteknikk (IFE) in Halden, Norway. Navita was started 

in 2003 as a result of a management buyout of assets from 

the OM Group. Navita’s POMAX 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. 

With its origins in supporting NordPool markets, Navita is 

strong in Scandinavian markets. Over the last few years, it 

has begun to expand into other European areas gaining 

clients and also has a number of clients in North America. 

The company has made several acquisitions over the last 

few years including most recently Edinburgh-based AESL, 

Ltd. It has also set up a number of partnerships with 




various firms to tackle new and existing markets such as 

North America and Russia. 

POMAX is built using Microsoft tools on an Oracle database 

and .NET architecture. 

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 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 standalone solution, 

or 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 midoffice 

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. 

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Main Office 

P.O. Box 154, NO-1751 Halden, 

Norway (Visiting address: Storgt 7, Halden) 

+47 69 70 96 00 


Oslo: +47 69 70 96 00 

Stockholm: +46 8 566 300 60 

London: +44 207 469 2530 

Edinburgh: +44 131 226 5566 

Pasadena: +1 626 535 9888 

Mississauga: (905) 361-9838 


Agder Energi AS 

BHP Billiton Plc 

Bizkaia Energia 

Bizz Energy 

Bruce Power L.P 

Clarkson Fund 

Management Ltd 

Constellation Energy 

EdF Trading Ltd 

Norsk Hydro 

IMAREX ASA 

Interkraft Capital 

Management 

International Power plc 

Website 

http://www.navita.com 

 

 

 

 

 

 

 

 

 

 

Ivaco Rolling Mills LP 

N.V. Nuon 

Navios Maritime 

Holdings Inc. 

RBS Sempra 

Commodities 

Sacramento Municipal 

Utility District 

Statkraft 

Statoilhydro ASA 

Welsh Power 

W. Australia Indp. 

Market Operator 

Westpac Banking 

Corporation 

Navita offer POMAX on a traditional license and hosted 

basis. 




RevenueManager, Version 8 

Nexant 

101 2 nd ST STE 1000 

San Francisco 

CA 94105-3651 

USA 



CommodityPoint has only recently initiated 

coverage of Nexant. 


Nexant is a provider of intelligent grid software and clean 

energy solutions—pioneering, developing, and advancing 

electric power grid and alternative energy technologies and 

services. 

Since their inception in 2000, they have completed over 

2,500 assignments in more than 100 countries, developing 

a thorough understanding of many of the complex issues 

facing public and private sector participants in the energy 

industry. Their clients include Fortune 500 companies, 

utilities, transmission and distribution system operators, 

petroleum and chemical majors, financial institutions, 

government agencies, and development banks. 

In 2008, Red Herring—the global technology business 

magazine—recognized Nexant as one of the top 100 

privately-held companies in North America, based on their 

technology innovation, quality of management, breadth of 

partners and customers, and depth of financial backing. 




Nexant is headquartered in San Francisco, California and 

has 30 corporate, representative, and project offices 

located throughout the United States, Europe, the Middle 

East, Africa, and Asia. Their shareholders include TeleSoft 

Partners, Oak Investment Partners, The Beacon Group, 

Intel Capital, R&K Wadhwani Trust, Nth Power, Morgan 

Stanley Global Energy Group, and Frog and Peach—as well 

as Nexant management and staff. 

Their detailed understanding of the physical behavior and 

constraints of the power system is embedded in their grid 

and market operations software. They offer an integrated 

line of software solutions that address all facets of energy 

markets, from centralized wholesale markets to 

independent energy retailers and aggregators. The growing 

trends towards dynamic pricing and demand side 

management are emphasized. 

 

For large-scale system operators such as ISOs, RTOs, 

and TSOs, Nexant provides software solutions both to 

manage wholesale markets and to control transmission 

networks in real time. 

Main Office 

101 2nd st STE 1000 

San Francisco 

CA 94105-3651 

USA 

Tel: +1 415 369 100 


United States 

Atlanta: +1 678 954 8156 

Boston: +1 781 372 5000 

Colorado: +1 303 402 2480 

Arizona: +1 480 345 7600 

Iowa: +1 515 528 8010 

California: +1 650 645 7700 

Houston: +1 713 982 5550 

Florida: +1 904 683 1625 

Los Angeles: +1 714 524 4401 

Wisconsin: +1 608 824 1220 

Tennessee: +1 615 750 5078 

Oregon: +1 503 219 2444 

Raleigh: +1 404 803 0553 

Sacramento: +1 916 478 0055 

Utah : +1 801 639 5600 

Washington: +1 202 974 0600 

New York: +1 914 609 0300 

 

 

 

For utilities, they provide EMS grid operation software 

as above, and customer management software 

solutions. 

For retailers, they offer RevenueManager, the worldleading 

software platform for energy retailing, which 

offers complete support over customer lifecycles in a 

deregulated energy environment. 

For power producers, they provide advanced portfolio 

risk management software solutions. 

International 

Netherlands: + 31 (0) 36 5397130 

Bahrain: +973 1750 2962 

Bangkok: +662 793 4600 

Frankfurt: +49 069 7593 8289 

London: +44 20 7950 1600 

Representative clients: 

Not provided 

Website 

http://www.nexant.com 

Shanghai: +86 136 9328 3880 

Beijing: +86 10 5166 6778 

Seoul: +82 31 717 3597 

Tokyo: + 81 3 3237 3383 




webTrader Enterprise, Version 7 

Open Access Technology International, Inc. 

2300 Berkshire Ln N, Maildrop F 

Minneapolis, Minnesota 55441-3606 



OATI placed number seven in name recognition for 

ETRM vendors and number 4 for North American power 

transaction management in CommodityPoint's 2009 

ETRM Software Perceptions Study. 

The firm was also the named as the leading vendor 

in SaaS delivery of ETRM software in CommodityPoint's 

July 2010 study, Alternative Delivery Mechanisms for 

CTRM Software. 


In 1995, OATI was one of pioneers of the ASP model in the 

North American energy industry. OATI continues to provide 

software solutions to meet the needs of the North 

American energy industry. More than 650 companies utilize 

OATI applications for energy trading and transmission. 

OATI’s product, Webtrader, is a front-to-back-office energy 

trading risk management solution, providing financial and 

physical trading for use throughout North America. It 

provides trading entities with a set of functionality for 

electric power, natural gas and emissions including: 




Front Office 

Physical power trading 

Gas Trading 

Financial trading 

RTO Market support 

Templates for fast trade capture 

Real-time position reporting 

Formula-based pricing 

 

 

 

 

 

 

It additionally offers compatible solutions for Plant 

Management including: 

Fuel costs 

O&M costs and schedules 

Monitor and project future emissions 

Long term service agreement costs 

Complex energy schedules 

After-the-fact Accounting 

Middle Office 

Daily and monthly checkout capabilities, summaries 

and reports 

Bookouts and bookout report summaries 

Email-based counterparty confirmation capabilities 

Transportation Management 

Gas Logistics and Nominations 

Plant and Meter Management 

Gas Accounting and Settlements 

Back Office 

RTO Shadow Settlements 

Accounting tools 

Third-party counterparty settlement 

Accounting locks 

Billing and invoicing 

Receivables aging summary 


A variety of analytical models 

Credit risk 

Portfolio Analysis 

E-tagging and support via webTag and several other tools 

specifically designed for North American electric power 

markets. 

Main Office 

2300 Berkshire Ln N, Maildrop F 

Minneapolis, Minnesota 55441-3606 

763-201-2000 


Texas 

California 


First Wind Energy, LLC 

KCP&L 

Website 

http://www.oati.com 

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OASES, Version (not specfied) 

Open Link Financials, Inc. 

1502 RXR Plaza 

15th Floor - West Tower 

Uniondale, NY 11556-1502 


NOTE: OLF's refused to disclose details of its current installed database 


Open Link ranked 2 nd overall in CommodityPoint’s 2009 

Vendor Perceptions study for first to mind brand 

recognition – 3 rd in North America and 1 st in Europe. It 

is also perceived as the market leader, according to our 

study, in Europe and North America. 

OLF was also perceived as a market leader in the 

following areas; crude oil, natural gas, electric power, 

coal, NGLs, LNG, Refined Products, Ags and metals, 

financial transaction management, market risk, credit 

risk, utilities, generation, oil & gas, refining & 

petrochemical, energy merchants, retailers, banks and 

funds, and many other categories. 


OpenLink offers solutions for trading & risk management 

into three industries; finance, agrculture and energy. Its 

energy platform is called Endur which is a front- through 

back-office solution for trading, risk management and 

operations needs in various commodity markets. Built on 

OpenLink's NGX Framework, Endur is a comprehensive 

solution serving markets in electricity, natural gas and 

natural gas liquids, crude oil and refined products, precious 

and base metals, coal, weather derivatives, emissions, 

bandwidth, soft commodities, and foreign exchange. 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 – OLF 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 requirements. 

OLF also owns a number of other companies in the TRM 

software space including; 

 

 

 

dbsSMARTsoft - specializes in the development of 

Commodity Management, Merchandising and Grain 

Accounting software. 

IRM – Offers solutions tailored to the requirements of 

deregulated markets and support the operative 

business as well as strategic planning. See the listing in 

this Sourcebook. 

MCG – A software solutions and services firm. 

Main Office 




+1 516 227 6600 


Apache 

Austin Energy 

Bridgeline Holdings 

Calyon Financial 

Centrica 

Coral Energy 

D-Energia 


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 

Energy Transfer 

Hess 

Shell 

Statoil 

Petrobras 

Platinum Partners 

Vattenfall Europe Trading 

Website 

http://www.olf.com 

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TRMTracker, version (not specified) 

Pioneer Solutions, LLC 






CommodityPoint initiated coverage of Pioneer in 2010. 


Pioneer Solutions is a full-service solutions provider in the 

financial, environmental and regulatory compliance 

areas. Its staff has been advising and providing solutions in 

these areas for over ten years. 

Its TRMTracker software is an end-to-end energy and 

commodity trading risk management tool designed to 

support the entire life cycle of trading. It provides straightthrough-processing 

of deal capture, risk management, 

scheduling, settlement and accounting in a single platform. 

The solution effectively supports price, credit and 

operational risks. 

Front Office Support 

TRMTracker is a comprehensive trading tool that supports 

multi-commodity and energy products. Front Office staff 

can capture simple to complex transactions quickly and 

easily within the system. Often repeated tasks are 

streamlined using pre-populated fields. Supported products 




include Natural Gas, Oil, Electricity, Metal, Treasury and 

others. TRMTracker is designed to support new products 

and trade types with ease. 

TRMTracker supports financial and physical products and 

provides integrated physical scheduling and delivery 

functionalities. Front Office staff can use TRMTracker to 

plan, schedule, deliver and manage physical transactions. 

Middle Office Support 

Risk Managers can manage Price, Credit, Operational, 

Financial and Regulatory risks from a single TRMTracker 

platform. Risk Managers can easily verify and confirm 

transactions. TRMTracker keeps a full audit trail on the 

confirmation status of each transaction. 

TRMTracker supports price curves by integrating with 

external pricing feeds. Alternatively, users can maintain 

prices within TRMTracker or import prices from files. Risk 

Managers can perform MTM analysis from different price 

curve sources. Limit management is also provided. Multiple 

trader and credit limits can be defined and monitored. 

Examples include position, tenor, counterparty, VaR and 

others. 

Risk Managers can analyze Value-at-Risk (VaR) of several 

portfolios using different VaR techniques. Furthermore, 

Risk Managers can perform what-if analysis and stress 

testing on portfolios. 

TRMTracker provides a solution for credit risk analysis and 

management. Credit analysts can prepare integrated credit 

exposure and reserve reporting with ease. Advanced credit 

analysis can be performed with default and integrated VaR. 

Back Office Support 

TRMTracker provides comprehensive settlement and 

accounting functionalities. Contract Administrators can 

maintain all agreements with simple to complex charge 

types. The Settlement process uses these agreements and 

transaction data to calculate estimated and final 

settlement. Invoices can be created based on templates 

and tracked within TRMTracker. 

TRMTracker supports Accrual, Inventory and Derivative 

Accounting. Back Office staff can prepare estimated and 

final accounting entries. TRMTracker supports several 

Derivative Accounting standards (i.e. FAS133, IAS39, 

AASB139). 

Main Office 

6000 Greenwood Plaza Blvd, Suite 115 

Greenwood Village, CO 80111 

Tel: 303-758-3780 


London - Tel: +44(0)20 7887 7870 

Nepal - Tel: 977-1-4672708 


Not provided but has 14 clients. 

Website 

http://www.pioneersolutionsglobal.com 

Advertisement 




SAS for ETRM, Version 9 

SAS and RiskAdvisory (A Division of SAS) 

Suite 970, Gulf Canada Square 

401 9 Avenue SW 

Calgary, Alberta 

Canada, T2P 3C5 



SAS and RiskAdvisory ranked 11 th overall in terms of first 

to mind brand recognition in CommodityPoint’s 2009 

Vendor Perception Study (10 th in North America and 18 th 

in Europe). It also ranked as a perceived market leader 

for financial transaction management, credit risk, and 

for cost effectiveness. 


RiskAdvisory, a division of SAS, provides energy trading risk 

management solutions including SAS BookRunner which 

offers commodity capture, analytics, modeling and 

reporting capabilities, delivered in an integrated 

framework. RiskAdvisory was founded in Calgary, Canada, 

in 1995 and was acquired by SAS in 2003. BookRunner has 

been combined with a number of SAS analytical tools. 

SAS BookRunner is a front-to-back-office solution that 

includes deal capture, data integration, predictive analytics, 

compliance reporting, and a full suite of modeling tools. 

The modular solution provides organizations with the 

capability to proactively capture, analyze and simulate 

market and credit risks associated with energy price 

volatility, through an integrated energy trading risk 

management (ETRM) framework supported by SAS’s 




integrated data framework and superior business analytics, 

and support services. 

BookRunner provides the following functionality: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade capture 

Pricing 

Valuation 

Exposure quantification 

Position datastore 

Contract management 

Confirmations 

Trading and risk management workflows 

Settlements 

Asset modeling (production, refining, generation, 

distribution, transmission, pipelines, storage and any 

associated emissions) 

Invoice billing 

Hedge accounting 

Counterparty management 

Credit, collateral and margining management 

Limits monitoring 

Risk analytics, modeling, & reporting 

Simulation engine 

Sensitivity analysis and stress testing 

SAS RiskAdvisory also markets the SAS BookRunner 

analytics Workbench to provide analysts with a graphical 

tool to run analytics and build credit and market risk 

models in a centralized and controlled environment, SAS 

BookRunner Advanced Analytics to help model and assess 

market and credit risk in a company-specific framework, 

SAS RiskDimensions to measure and monitor risk metrics 

associated with physical or financial energy assets and 

contracts, and the SAS Operational Risk suite of tools. 

Main Office 

Suite 970, Gulf Canada Square 

401 9 Avenue SW 

Calgary, Alberta 

Canada, T2P 3C5 

(403) 263-7475 


North Carolina: (919) 677-8000 


AG Energy 

Dominion 

EnCana 

EnMax 

SaskEnergy 

Xcel Energy 

Website 

http://www.riskadvisory.com 




PetroMan, Version 11.20 

Sisu Group, Inc. 

8252 South Harvard Avenue Suite 157, 

Tulsa , OK, 74137 



Sisu Group, Inc. is a small specialist vendor that has not 

so far ranked on CommodityPoint’s surveys. 


Sisu Group, Inc. has been in business since 1993 

serving clients that range from midrange privately held 

companies to large publicly held corporations. It specializes 

in Energy Supply and Trading solutions. 

Its product PetroMan® is an integrated Enterprise 

Transaction and Risk Management system for the Energy 

Industry primarily for trading Refined Petroleum and NGL ( 

Natural Gas Liquids ). It covers bulk pipeline trading, risk 

management, pricing, scheduling, invoicing, interfacing to 

financial/ERP systems, and inventory. PetroMan® also 

includes an optional comprehensive Rack Marketing 

module. 

The product supports the following functionality: 

Capture of Cash, 

Futures and Option Deals, 

Confirmation Letter, 

Broker Statement Reconciliation, 

Position Management, 




Invoice and Purchase Statement, 

Pipeline Scheduling, 

Inventory Management, 

Price and Credit Risk Management, 

Hedge Management. 

Profit & Loss Statement, 

Performance Management, 

Audit Trail, 

Security, etc. 

Rack Marketing. 

The Petroleum Rack Marketing module in PetroMan 

automates all aspect of rack marketing thru EDI (electronic 

data interfaces) in a completely paperless fashion. Bill of 

Lading transmissions through DTN, TopTech or direct 

connect. Rack Price calculations and posting, invoicing and 

EFT notification are sent through PetroMan’s extensive 

distribution module and thru DTN and VANs. PetroMan 

automatically calculates all federal, state and local motor 

fuel taxes. 

Main Office 

8252 South Harvard Avenue Suite 157, 

Tulsa , OK, 74137 

Tel: +1-918-495-1364 


None 


QuikTrip Corp. 

Plains Marketing L.P. 

Noble Petro Inc. (Noble Group) 

Coffeyville Resources 

Petrocom Energy Group 

Website 

http://www.sisugrp.com 

Sisu Group, Inc. offers PetroMan on a traditional licensed 

or SaaS basis. 




SoftSmiths TMS, Version 5 

SoftSmiths, Inc. 

10696 Haddington 

Suite 102 

Houston, TX 77043-284 



SoftSmiths ranked 13 th in North America in terms of 

first to mind brand recognition in CommodityPoint’s 

2009 Vendor Perception study and are mostly known in 

North America. 

They are recognized as a market leader for electric 

power, financial transaction management, credit risk, 

utilities, service & support, meeting regional 

requirements, implementation, reporting and 

integration. 


SoftSmiths helps energy marketers sell, purchase, trade 

and deliver energy by integrating and delivering tailored 

energy transaction management systems for Utilities, 

Municipals, Investor Owned Utilities, LDCs, Power and Gas 

Marketers, Generators, Producers, and Pipeline companies. 

The company's range of products includes solutions for 

power and gas management, transmission service 

management, market interfaces and electronic tagging. 

SoftSmiths Power is targeted at Load Serving Entities, 

Purchasing Selling Entities and Municipal Utilities. 

SoftSmiths Gas is targeted at Natural Gas Marketers, LDC, 




Utilities and Pipeline companies. These power and gas 

management products feature the following high-level 

functionality: 

Front Office 

Load Forecasting 

Resource Management 

Real-Time and Term Trading 

Multi-Commodity Deal Capture 

Net Position, ‘What-If’ Impact Analysis 

Volume and Mark-to-Market Reporting 

Power & Gas Scheduling 

Transmission Reservation Management 

NERC Electronic Tagging 

Gas storage management 

Transport management 

Risk management 

Middle Office 

Operational and resource constraints 

Calculated Cost Associated with Non-compliance 

Controls and Monitoring 

NAESB Compliant 

Nominations 

Pipeline Imbalances 

Back Office 

Settlement 

Invoicing 

Payment Tracking 

Reporting 


Confirmations 

SoftSmiths utilizes a “Subscribe and Publish” architecture in 

a multi-tiered client server environment to allow users to 

request information and receive updates dynamically. It 

utilizes the Oracle DBMS. 

Main Office 

10696 Haddington 

Suite 102 

Houston, TX 77043-2847 

+1 713.626.9184 


None 


Abacus Resources Energy 

APNA Energy 

Bonneville Power administration 

DPI Energy 

Indianapolis Power & Light 

Grant County PUD 

Mega Energy 

Northern Indiana Public Service 

Our Energy 

Texas Power 

True Electric 

Website 

http://www.softsmiths.com 

SoftSmiths offers this product on a traditionally licensed, 

hosted or SaaS basis. 




RightAngle, Version S11 

Solarc, Inc. 

9701 Richmond Avenue, Suite 250 




Solarc was 5 th overall in the first to mind category in 

CommodityPoint’s 2009 Vendor Perception study (5 th in 

North America and 6 th in Europe). It is also perceived as 

an overall market leader. 

SolArc is perceived as a market leader for Crude Oil, 

Coal, NGL, LNG and Refined Products functionality as 

well as for Oil & Gas Producers, Refiners, and End 

Users. It is also perceived as a market leader for 

Architecture, Service & Support, Meeting Regional 

Requirements, Reporting and Integration. 


SolArc was founded in 1991 launching its RightAngle 

product in 1994. RightAngle is an integrated software 

solution for commodity procurement, tracking and risk 

management across a range of industries including energy, 

food and beverage, investment banking and transportation. 

Targeting energy companies dealing in petroleum, NGLs, 

natural gas and coal to investment banking, transportation 

and food and beverage companies, SolArc RightAngle 

provides functionality ranging from deal capture and 

scheduling to operational accounting and risk 

management, as well as reporting. RightAngle is a complete 




front to back office CTRM solution that also includes a 

number of add on modules: 

 

 

Integrated marketing and scheduling 

Accrual accounting and actualization 

RiskCenter – Provides traders with information about their 

tactical activities such as volumetric positions for spot and 

forward months, valued and partially valued deals, profit 

and loss analysis and P&L shift analysis. Correlation and 

variance/covariance tools are provided to analyze worstcase 

scenarios. 

LogisticsCenter – Provides logistical functionality including, 

for example, the ability to take incoming fuel tickets or bill 

of lading data and book them into actuals, matched against 

the appropriate purchase/sale contract, and priced 

automatically. 

LeaseCenter – Provides additional functionality for firms 

that purchase crude oil at multiple leases and use 

commercial software and/or legacy royalty systems to 

manage lease movements and pricing. 

CreditCenter - Allows credit and treasury departments to 

set company credit policies as standard across their 

organizations and to track and enforce these policies across 

all system activity. 

Additionally, the SolArc Natural Gas solution, targeting 

Producers to End Users, offers the following functionality; 

 

 

 

 

 

 

 

 

Production planning 

Contract administration 

Gas and production accounting 

Gas marketing and gas control 

Processing plant and gathering operations 

Gathering and wellhead allocation 

Detailed contracts capture 

Plant PVR and residue model 

SolArc also offers the SolArc Developer Kit to help users to 

customize or extend their RightAngle installation. 

Main Office 

9701 Richmond Avenue, Suite 250 


Phone: 713-260-5100 


Dallas - Tel: 214-987-8900 

Tulsa – Tel: 918-594-7320 

London – Tel: +44 203 170 7855 

Singapore - Tel: +65 67352522 


Chevron 

ConocoPhillips 

Constellation Energy 

Tyson Foods 

Union Pacific Railroad 

Southwest Airlines 

Virgin Atlantic 

Merrill Lynch 

JP Morgan 

Barclay's Capital 

Website 

http://www.solarc.com 

Advertisement 




RiskPrime, Version 6.X 

Spectrum-Prime Solutions, LP 

24 E. Greenway Plaza, Suite 1180 




Spectrum-Prime has some limited unprompted brand 

recognition in North America according to 

CommodityPoint’s 2009 Vendor Perception study as it 

is a US-focused and relatively new vendor. 


Houston-based Spectrum-Prime Solutions, LP offers 

consulting, software and custom software development 

services in the commodity and risk management area. Its 

emphasis is on risk management and it offers a suite of 

software products around that theme. The company was 

founded in 2003 by Bill Fraser and Frank Li who were both 

previously with Reliant Energy. 

Its products are built on the .Net framework and can be 

fully integrated with other major CTRM applications. The 

products include: 

CreditPrime - A credit risk management and administration 

system that offers functionality including: 

The ability to establish internally consistent credit 

limits with advanced underwriting capabilities 

Determine net credit exposure in a multi-commodity, 

multi-entity, contractual netting environment 




 

 

Provides a shadow model for unrated entities 

Provides full credit administration functions 

RiskPrime - An integrated transaction capture and risk 

management platform that includes: 

 

 

 

Deal capture 

Security and audit trail features 

Ability to cover many physical and financial products 

Supply Management System - Manages supply vs. 

projected commodity demand and includes: 

Main Office 

24 E. Greenway Plaza, Suite 1180 


Tel- 1-713-589-6850 


None 


None Provided 

Website 

http://www.spectrumprime.com 

 

 

 

Import of load forecasts from multiple sources 

Transaction capture 

Comparison of supply and demand positions 




Aligne, Version 3.0.x and Prior 


1331 Lamar Street, Suite 950 

Houston, Texas 77010 



SunGard Energy is a well known supplier of CTRM 

software. In CommodityPoint’s 2009 Vendor Perception 

survey it ranked 4 th overall in unprompted brand 

recognition (4 th in North America, 2 nd in Europe). 

It is also viewed as an overall market leader (3 rd ) and a 

market leader for crude oil, natural gas, electric power, 

coal, and metals coverage, for financial transaction 

management, market risk, and credit risk, for coverage 

across all industry sectors, for its architecture, service & 

support, ASP delivery, ability to meet regional 

requirements, implementation, reporting and cost 

effectiveness. 


SunGard Energy and Commodities is a division of SunGard, 

a company with more than 25-years of history of providing 

financial software solutions. This division provides a variety 

of software solutions targeting energy and broader 

commodities including Aligne. 

SunGard has pursued an acquisition strategy acquiring 

multiple vendors including Caminus and others in the 

process building one of the largest installed bases among 

CTRM vendors. It has offered a number of products over 




the years including notably ZaiNet and ACES, many of 

which are still utilized by its clients. Its latest product, 

Aligne, a modular multi-commoditysoftware solution suite 

that integrates trading, risk/control, credit, fuels 

procurement, emissions compliance, back-office, 

treasury/finance and senior management information. It 

utilizes an integration framework to move data between 

functional components and facilitate integration both 

within the suite and between the suite and a customer’s 

other software systems. 

Aligne provides front-, middle- and back-office capabilities 

for commodity transactions. Components may be 

combined to support business requirements specific to 

utilities, traders and producer/marketers, LDCs, pipelines, 

storage operators, midstream gas companies, and large 

industrial consumers. It also offers real-time alerts, 

messaging and dashboards. 

Aligne includes the following capabilities: 

Support for trading for energy commodities, weather, 

emissions, heat, freight, metals and derivatives 

Ability to capture physical and financial instruments for 

multiple commodities 

Support for both long-term and real-time trading and 

scheduling 

Ability to perform straight-through processing from 

deal capture to scheduling 

Ability to manage A/R, A/P and all economic aspects of 

a deal including brokerage/third party fees 

Ability to calculate market-to-market positions in realtime 

across organizations 

Ability to meet current and future regulatory 

requirements, such as those imposed by FAS 133 

Ability to aggregate and analyze historical and interval 

market data from multiple sources 

Aligne is offered in various configurations specifically 

targeting: 

 

 

 

 

Energy financial traders 

Energy physical traders and marketers 

LDC’s, Pipelines and Midstream companies 

Utilities. 

Aligne is built on SunGard’s Advanced Integration Platform 

is comprised of 4 major components: an Enterprise Service 

Bus (ESB), a common data model for energy, shared 

services, and a reference data database. Additionally, the 

framework provides the environment for a domain data 

mart and “adapters” for integrating applications on the 

framework. 

SunGard also offers the Entegrate Application Suite and 

was recently merged with SunGard Kiodex (see separate 

listing for Kiodex). 

Main Office 

1331 Lamar Street 

Suite 950 


USA 

+1 713 210 8000 


Ameren 

Atmos 

EDF 

Fortum 

Iberdrola Renewables 

Macquarie Generation 

Tata Power Trading 

Website 

http://www.sungard.com/energy 


London: +44 (0) 20 8081 2000 

India: +91 20 6624 8000 

Singapore: +65 6416 9790 




Kiodex, Version (not specified) 


1331 Lamar Street, Suite 950 

Houston, Texas 77010 



SunGard Kiodex was not well known on an unprompted 

basis in the CommodityPoint Vendor Perception survey. 

It did have high prompted brand recognition however, 

where it was 5 th overall in North America and 3 rd in 

Europe. It is also perceived as an overall market leader. 

It was also perceived as being among the market 

leaders for Market Risk, in the hedge fund, agricultural 

producers and end user industry segments and for ASP 

delivery. 


SunGard Energy is a division of SunGard, a company with 

more than 25-years of history of providing financial 

software solutions. It’s SunGard Energy and Commodities 

division provides a variety of software solutions targeting 

energy and broader commodities including the Kiodex Risk 

Workbench. 

The Kiodex Risk Workbench (KRW) is a commodities risk 

management solution delivered via an ASP model. It 

Incorporates deal capture, proprietary valuation models, 

risk reports and independent market data to help manage 

risk. The Kiodex Risk Workbench includes modules for 

management reporting, documentation, and at-risk 

reporting. 




The Kiodex Risk Workbench provides the ability to query 

and configure data for reporting purposes, features 

modules for management, documentation and at-risk 

reporting and aids in the process of confirming, reconciling, 

and tracking positions. 

Kiodex also offers Kiodex Real Time to provide real-time 

trade capture, mark-to-market and risk management for 

commodities. Captures futures, options and cleared trades 

instantly from multiple exchanges. It delivers view of markto-market 

valuation of positions using real-time market 

prices and settlements as well as providing views of option 

positions, prices and Greeks based upon live movements in 

the underlying contract. 

Main Office 

1331 Lamar Street 

Suite 950 


USA 

+1 713 210 8000 


London: +44 (0) 20 8081 2000 

India: +91 20 6624 8000 

Singapore: +65 6416 9790 


Ameren 

Bayer AG 

Etihad Airlines and other global and regional airlines 

R. J. O’Brien 

Website 

http://www.sungard.com/energy 




TRADEPAQ: TRM, Version 4.1 

TRADEPAQ TRM llc. 

150 White Plains Road, Suite 301 

Tarrytown, NY 10591 



TRADEPAQ has its origins in metals trading and risk 

management only recently moving into Energy and as 

a result it was not represented in the 2009 Vendor 

Perception survey performed by CommodityPoint. 

However, CommodityPoint expects it to rank highly in 

the 2010 Non Energy Commodity Vendor Perception 

study. 


TRADEPAQ TRM LLC is a global provider of supply chain 

execution, trade and risk management software for 

commodity organizations who produce, trade, consume or 

distribute physical commodities. Its flagship 

product, TRADEPAQ®:TRM (Trade and Risk Management) is 

a Commodity Trade & Risk Management (CTRM) software 

solution for companies who want to better manage their 

financial and physical supply chains and control their risk. 

TRADEPAQ:TRM may be installed as licensed software or 

delivered as a Software as a Service (SaaS) solution. They 

provide global turnkey implementation services to fit 

specific business including implementation services, change 

management, custom programming, and 24x7 global 

support. Their modular design enables implementation of 

one or all of their CTRM building blocks. 




For a completely integrated system, TRADEPAQ TRM 

provides its own GAAP / IFRS compliant Financial 

Accounting and Hedge Compliance software enabling use 

of TRM as a primary accounting system. If there is already 

a financial package, TRADEPAQ:TRM virtually eliminates 

the inherent risks of complex integrations through its 

flexible design and open database architecture and 

integration tools. 

Clients ultimately choose TRADEPAQ:TRM to better 

manage the three TRM pillars for success: Control, Growth 

and Visibility. They uniquely offer a functionally rich set of 

CTRM capabilities enabling TRADEPAQ:TRM to be the ONLY 

system required to run a complete business. Add to that 

TRM’s comprehensive Risk management and analytical 

trader tools for a real competitive advantage for business. 

TRADEPAQ is part of a private multi-company software 

group founded in 1978. Headquartered in New York City, 

TRADEPAQ operates with local offices throughout Europe, 

Asia/Pacific, and North & South America. TRADEPAQ has 

hundreds of sites installed around the globe. Annual sales 

continue to grow year after year pushing the company’s 

continuing profitability into its fourth decade. 

TRADEPAQ:TRM focuses on the needs of Traders, 

Producers, Consumers and Distributors of physical 

commodities serving clients in many markets including: 

 

Agricultural Commodities 

o Grains, Seeds & Legumes 

o Coffee, Cocoa 

o Edible Oils 

o Sugar, Cotton, Rice 

o Many others (Dairy, Meat, etc.) 

 

 

Metals 

o Raw Materials & Scrap 

o Smelters & Refineries 

o Refined (LME) & Precious Metals 

o Ferro Alloys & Minor Metals 

o Semi-Finished Products (Steel, Aluminium) 

o Carbon & Stainless Steel 

Chemicals & Energy 

o Chemical Producers & Distributors 

o Plastics 

TradePaq TRM also supports work flow via the TRADEPAQ: 

TRM Workbench Designer. The software is developed on 

Service Oriented architecture. 

Main Office 

150 White Plains Road, Suite 301 

Tarrytown, NY 10591 

USA 

+1 914 332 9174 


Netherlands: +31 341-556166 

India: +91 22 6712 6821 

Columbia: +571 6 356760 


Arcelor Stainless USA 

Norilsk Nickel 

Viterra 

United Company Rusal 

Coex Coffee 

ArcelorMittal 

ELG 

Website 

http://www.tradepaqtrm.com 




TransRisk, Version 2 

TransGraph Consulting 

301 Riverside Avenue 

Westport, CT USA 06880 



CommodityPoint initiated coverage of TransGraph 

in 2010. 


TransGraph Consulting private Limited was started in 

2003 to focus on consulting in areas such as 

commodity price forecasting and risk management. 

TransRisk is the company’s web-based market risk 

management solution which provides manufacturing, 

processing and trading companies with a customizable 

and stable commodity and currency risk management 

solution. Based on @Risk framework, a widely 

accepted global standard for measuring and 

decomposing risk, TransRisk, a decision-enabling 

Business Intelligence tool helps measure and manage 

risk. It calculates net exposures based on the business 

process and allows users to have single accurate, view 

of exposures, mark-to-market P&L and risk across the 

organization, thereby bettering the synchronization of 

business strategies. 




TransRisk includes; 

Exposure Analysis : Customized net exposure engine 

to calculate net exposure based on your business 

process. 

Risk Measurement : Measure Risk based on Value at 

Risk (VaR) Framework using Monte-Carlo Simulation, 

Historical Simulation or Parametric (Variance 

Covariance) methodologies. 

Risk Analysis : Decompose risk to drill-down into 

position-wise risk and analyze it from multiple 

dimensions. 

Risk Simulation :Simulate various risk calculation and 

exposure parameters to generate Stress-testing and 

what-if scenarios. 

Reports and Graphical Analysis : Highly flexible 

reporting framework and OLAP (OnLine Analytical 

Processing) tool allows you to prepare any report and 

save the format for future use. 

Strategy Cockpit : Bird’s eye-view of the most useful 

reports for senior management. 

TransRisk is a web-based Solution, delivered on the 

SaaS (Software-as-a-Service) Model or Installation 

model. 

Main Office 

#6-3-655/2/1 

AP Civil Supplies Bhaven Lane 

Somajiguda 

Hyperabad 

India, 500082 

Tel: - +91 40 306 8 5000 


None 


TrasnGraph has 5 clients currently for its TransRisk 

product. 

Website 

http://www.transgraph.com 

Configurability : Configure custom settings for risk 

calculation and import / create own price series. 

Alerts and Limits :Define internal limits exposures, 

P&Ls and Risks on traders, commodities, trading desks, 

positions, markets, etc. and get system generated 

alerts on limit breaches. 

Utility of VaR : Use TransGraph’s Innovative “Imputed 

Risk Model” for applying VaR numbers to assess the 

true health of the portfolio. 




Commodity XL, Version (not specified) 

Triple Point Technology, Inc. 





Triple Point ranked #1 for unprompted brand 

recognition in CommodityPoint’s 2009 Vendor 

Perception survey. It was also ranked #1 in North 

America and #3 in Europe. It was perceived as an 

overall market leader (#2) in that survey. 

Triple Point is also perceived as a market leader for 

crude oil, natural gas, electric power, coal, NGL, 

LNG, Refined products, Ags, and Metals, as well as 

a market leader for financial transaction 

management, market risk, and credit risk. It is also 

viewed as a market leader in serving Utilities, Oil & 

Gas, Refining & Petrochemical, merchants, 

retailers, banks and end users as well as for 

architecture, service & support, ASP delivery, 

reporting and meeting regional requirements. 


Triple Point was founded in 1993 and today offers a 

trading and risk management solutions for commodities 

including power, oil, gas, coal, metals, agricultural 

products, freight and bio-fuels. Triple Point’s Commodity 

XL provides front-to-back office functionality for the 

supply, trading, marketing and movement of commodities 

on a single platform. 

The Commodity XL suite of solutions from Triple Point 

Technology is a trading and risk management system that 




works across multiple commodities, in real-time from the 

front- through the back-office. It utilizes a standardized, 

component-based architecture. The architecture enables 

the control of data granularity down to the month, day, 

hour or sub-hour and allows the plugging in of additional 

commodities on demand with no changes to the core 

platform. 

Different configurations of the product are available for 

specific purposes or modules can be combined to provide 

a single platform, multi-commodity solution. 

Preconfigured solutions include: 

Agricultural Commodities 

Bio-fuels 

Chartering & Vessel 

Operations 

Coal 

Emissions 

 

 

 

 

 

 

Freight 

Metals 

Natural Gas 

Oil 

Power 

Banks 

Additional modules are also optionally provided including: 

Credit Risk - measures, manages and mitigates the risk 

arising from counterparty default and addresses the 

entire credit risk process with a full range of credit 

analysis and operational tools in 3 key areas: exposure, 

collateral and counterparty management. 

Fair Value Disclosure – a module for FAS 157 and IFRS 7 

compliance. It provides the tools and framework to 

define, measure and manage fair value levels and meet 

all disclosure requirements 

Hedge Accounting - ensures compliance with FAS 133 

and IAS 39 requirements and other country hedge 

accounting standards. 

Management Dashboard - mines trading, risk and 

supply chain data to provide analysis to key decisionmakers. 

Main Office 



+1.203.291.7979 


ABB Grain 

Astra Oil 

Cargill OT 

Duke Energy 

EDF Trading 

Essent Trading 

Glencore Grain 

Hess Corporation 

Morgan Stanley 

Nidera 

Peabody Energy 

Website 

http://www.tpt.com 


Parsippany: +1.973.244.1661 

Houston: +1.713.334.9339 

London: +44 (0)20.7065.7650 

Sao Paulo: +55.11.3568.2422 

Vienna: +43 18 9030 4090 

Pune: +91.20.2582.1010 

Singapore: +65.6832.5940 

Chennai: +91.44.4217.7982 

Geneva: +41 (0)21.825.5656 

Cape Town: +27 21.883.8060 

Plains Exploration & 

Production 

Scottish Power 

State Oil Company of 

Azerbaijan Republic 

Trafigura 

TransCanada 

TVA 

UBS 

Washington Gas 

Wingas 

XChange - provides real-time, straight-through processing 

(STP) from exchange trade execution to all Commodity XL 

functions 

Triple Point also offer hosted/SaaS-based version of its 

software and, via, Commodity SL, a fully SAP integrated 

version of the software on the SAP platform. The SAP 

solution is offered for power, oil, gas, coal, metals, 

agricultural products, bio-fuels and freight. 




TRM (aka Monaco), Version 5 

Ventyx 

3301 Windy Ridge Parkway 

Suite 200 

Atlanta, GA 30339 



Ventyx was ranked 5 th on unprompted brand 

recognition in CommodityPoint’s 2009 Vendor 

Perception study and was also ranked as an overall 

market leader (5 th ). 

It was also ranked as a perceived market leader for 

natural gas, electric power, and coal as well as, 

Utilities, Generation, and retailers. It was also 

among the perceived market leaders for 

architecture, and integration. 


Ventyx is a business solutions provider to global 

energy, utility, communications, and other assetintensive 

organizations. It offers a broad range of 

solutions, including: 

 

 

 

 

 

 

Asset management 

Mobile workforce management 

Customer care 

Energy trading and risk management 

Energy operations 

Energy analytics 




The Ventyx TRM solution is designed to addresses the 

needs of asset centric electricity and gas utilities 

providing integrated front, middle and back office 

functionality with straight through processing with a 

focus on managing trading transactions and risk 

exposure for complex assets. Ventyx's Trading and Risk 

Management (TRM) solution, allows organizations to 

measure and monitor the risks associated with 

commodity positions resulting from operations, 

including natural positions (such as load and 

generation) and positions resulting from bilateral 

agreements. 

TRM provides an integrated front-, middle-, and backoffice 

solution that captures physical, financial, and 

asset transactions across all energy commodities. In 

addition, it offers: 

straight-through processing 

Thin client structure 

Real-time credit and trading limits monitoring 

Convergence of mark-to-market projections to 

actual results 

Advanced valuation algorithms, including Monte 

Carlo and custom proprietary algorithms 

It also includes: 

FRONT OFFICE 

Multi-commodity Transaction Capture 

Forward Market Assumption Capture 

Closed-Form and Monte Carlo Valuation 

Forward Position and Value Analysis 

Scheduling &Pathing 

MIDDLE OFFICE 

Contract Administration 

Confirmation Generation and Tracking 


Forward Cash Flow, Risk Analysis, and Advanced 

Risk Analytics 

BACK OFFICE & OPERATIONS 

Counterparty Checkout 

MTM / Actual Convergence 

FAS-133 Compliance 

Management Reporting. 

TRM is browser based and uses XML as the data 

transfer mechanism between tiers. 

Main Office 

3301 Windy Ridge 

Pkwy 

Suite 200 

Atlanta, GA 30339 

770-952-8444 


Enercity 

Energi E2 

United Energy Trading 

Website 

http://www.ventyx.com 


Boulder: 720-240-5500 

Pittsburgh: 412-471-6800 

Columbus: 614-486-6711 

Richmond: 604-207-6000 

Houston: 1-713-243-7160 

Sacramento: 916-569-0985 

Kansas City: 816-880-4656 

Australia: +61 7 3839 2662 

Tokyo: +81-3-5275-2634 

Woking, UK: +44-1483- 

722777 

Montigny-le-Bretonneux, 

France: +33-13930-1717 

Centurian, RSA: +27 12 665 

3600 

Ventyx offers its product on a traditional licensed basis 

or as a hosted solution. SaaS may be offered in the 

future. 




IMOS, Version 6 

Veson Nautical 

162 Columbus Avenue 

Boston, MA 02116 

USA 



CommodityPoint has only recently 

initiated coverage of Veson Nautical. 


Nearly thirty years ago, an early software pioneer, 

Michael Veson, saw an opportunity to deliver 

customized software solutions to the commercial 

maritime industry. He founded Veson Inc. and 

created the first automated port-to-port distance 

tables, used in early voyage-estimating 

applications. His Distance Calculation Engine is 

included with the Fairplay World Shipping 

Encyclopedia and is now used by thousands of 

people around the world. 




Over the next two decades, Michael built a base 

of loyal enterprise customers, trail-blazed best 

practices in the industry, and developed a 

reputation for integrity and innovation. 

In 2003 Michael turned the reins of the company 

over to his son, John, who added “Nautical” to the 

name and greatly expanded the company’s 

services to the international maritime community. 

John shares his father’s high standards, passion 

for innovation, and dedication to solving complex 

problems. He has applied his industry and 

software expertise to completely transform the 

company’s product line, broaden its partner 

network, and build a talented team of 

professionals. 

Today’s Veson Nautical continues to evolve and 

innovate to meet the changing needs of the 

commercial maritime industry, with its newest 

release of IMOS 6 and new Web services 

offering, Veslink. Veson Nautical’s commitment to 

the highest quality products and services, 

proactive customer service, and rewarding 

careers for its team members have all contributed 

to the company’s growth and success. In 2007, 

Veson Nautical was one of only three companies 

in New England to receive the “Peak Performance 

Award for Extraordinary Growth” from Citizens 

Bank. 

Veson Nautical's products and services support leading 

maritime organizations in six continents. 

Main Office 

Veson Nautical Corporation 

162 Columbus Avenue 

Boston, MA 02116 USA 

Tel: +1 617.723.2727 

Other locations 

Greece: +30.694.854.2780 

Norway: +47.4689.0524 

Netherlands: +31.6.112.88.99.1 

Singapore: + 65.6225.4881 


Alcoa 

Alycon Shipping 

Argenmar Segmar 

AWB 

Bertlilng 

Carbofer 

ConocoPhillips 

KOCH 

Website 

http://www.veson.com 

Hyproc 

DOLE 

Thoresen Thai Agencies 

Unitedd bulk carriers 

Hellespont 

Mini container Pool 

Neste Oil 

Petronas 




ETLM, Version 5 

WellPoint Systems, Inc 

Suite 2000, 500 - 4th Avenue SW, 

Calgary, AB Canada T2P 2V6 



CommodityPoint commenced coverage of WellPoint 

Systems in 2010. 


Founded in 1997, WellPoint Systems is a provider of 

enterprise applications and related services for 

managing business in the global energy sector. Its 

diverse product line reaches across boundaries from 

upstream to mid-stream – all targeting oil and gas 

companies globally. 

ETLM enables multi-commodity deals, forecasting, 

scheduling, nominations and contract settlement – in 

multiple languages and currencies. Business processes 

supported within ENB include: 

 

 

 

 

 

 

 

 

 

 

Production forecasting 

Aggregation of field supply 

Production from producer owned properties 

Production from marketed properties 

Purchased Volumes 

Transfer or exchange volumes 

Storage and inventory 

Nominations 

Scheduling 

Actualizing 




Settlement – generating all source documents and 

related journal entries 

Invoicing 

Facility charge invoice 

Producer statements 

Net back statements 

Net out statements 

Payments 

Financial reports 

Credit analysis to control approval of pending deals 

and contracts 

Inventory valuation 

Role based analysis and reporting with 

customizable metrics and display options (charts, 

graphs, grids, etc.) 

Alerts with web based notification options 

Document management 

Currency conversion 

Unit of measure conversions 

Import/export template for all source data files 

Workflow 

The product also supports: 

 

 

 

 

Import daily or monthly pricing data from 

published bulletins, indices or company specific 

price schedules 

Import transactional detail, volume availability, 

actuals and financial information from 

spreadsheets with full validation 

Capture transactions in any currency or unit of 

measure and utilize embedded conversions for 

accurate financial reporting, invoicing and 

payment 

Utilize LIFO, FIFO, weighted average valuation 

methods for inventory valuation 

Use daily, average, monthly exchange rates or spot 

rates for currency conversion 

Retain all historical data, denominated in any 

number of currencies, for comparative reporting 

Trace every transaction to its source document 

Evaluate variances between historical production 

and current month availability to assist in 

transactional decision making 

Understand your daily contractual, inventory, 

imbalance commitments 

Prepare accurate settlement documents and 

ensure timely journaling 

Main Office 

Suite 2000, 500 - 4th Avenue SW Calgary, AB Canada 

T2P 2V6 

Tel: +1 403 444-3900 


Denver – Tel -+1 303 987-2238 

Houston – Tel - +1 713 850-1812 

Livingston, NJ – Tel - +1 973 992-8000 

Tampa – Tel - Phone: +1 813 282-0330 

Tunis – Tel - +216 71 862 787 

Pretoria - +27 12 345 4720 


WellPoint currently has 2 clients for this product. 

Website 

http://www.wellpointsystems.com 




Phoenix ETRM, Version 4 

Woodlands Solutions, LLC 

594 Sawdust Road, Suite 174 

The Woodlands, TX 77380 



Phoenix is a relatively new entrant into the CTRM 

marketplace, having been founded in 2008, and has 

only within the last year begun signing new customers 

to their product. 


Woodlands Solutions is a specialist CTRM vendor currently 

focused in the gas marketing market segment. Their 

product, Phoenix ETRM has been designed to provide 

improved operational efficiency, manage exposures, and 

demonstrably improve control over operations. 

Phoenix ETRM provides gas marketers with the 

functionality they need to automate and standardize their 

operations, including: 

Contract Administration including descriptive 

information (e.g. legal name, DUNS number, etc), 

processing information (e.g. company level credit and 

invoice netting rules, trading restrictions, credit 

violation notification parameters, etc), as well as an 

unlimited number of addresses, bank accounts (to 

support the invoicing processes), employees, parent 

relationships. Also provides for 




Deal Capture, including: physical deals (e.g. fixed, 

exchange, etc), financial deals (e.g. futures, swaps, etc), 

assets (e.g. storage, transport, etc), and forecasts 

(multi-layered load forecasts, production forecasts, etc) 

Confirmation Management, allowing clients to 

standardize and automate the process of validating 

deal terms, including both an internal validation 

process in which the trader (or the trader’s designate) 

is required to confirm the terms of the deal as well as 

an external, user-defined confirmation process 

Market Data Management automates collection and 

storage of market data 

Valuation utilizing a single valuation engine providing 

accurate valuations while ensuring the convergence of 

forward mark-to-market projections with actual 

results. 

Position Management enables each user to define 

multiple simple or complex views of positions within 

the portfolio (or subset of the portfolio) so that each 

user can filter and group the data to meet their 

respective needs. Users can filter and group position 

data over virtually any attribute 

Risk Analysis allows users to measure and monitor the 

risk inherent in their portfolio(s) or any subset of the 

portfolio. Users can view positions and sensitivities in 

multiple dimensions including, Mark to Market, 

Discounted Mark to Market, Physical Exposure, Cash 

Flow, Delta, Discounted Delta, Gamma, Vega, Theta, 

and Rho. 

Scheduling supporting multiple transport agreements 

with external name tracking; multiple fuel matrices 

(point to point, zone to zone, etc) with deal level 

control over automatic updates of losses and charges; 

capacity release; automatic unit of measure 

conversions across volume, weight, and energy units of 

 

 

 

measure; and automatic time zone adjustments for 

transported volumes 


Settlement 

Standard and Custom Reporting 

New features available with Version 4 include: a simple to 

use Monte Carlo Value at Risk engine including correlation 

and simulation engines, several new deal types, quick deal 

capture, auditing, custom defined fields, limit violation 

email notification, stress testing, and more. 

Phoenix ETRM is a standards based application built using 

the Microsoft technologies (including WCF, WPF, and C#) 

and features an n-tier, work-flow enabled, service oriented 

architecture (SOA) with an integrated distributed 

processing engine. The architecture’s modular design 

provides flexibility when deploying the application (using 

HTTP, TCP/IP, Named Pipes, etc. Additionally clients can 

alter the mix of hardware supporting the application at any 

time and facilitating system growth with the organization. 

Main Office 

594 Sawdust Road, Suite 174 

The Woodlands, TX 77380 


None Provided 

Website 

http://www.woodlandssolutions.com 

Phoenix ETRM is offered on a traditionally licensed and a 

hosted basis. 




References & Other Useful Resources 

References 

CommodityPoint - ETRM Vendor Perception Study Report, May 2009 

Useful Resources 

Vasey, Gary M and Reames, Patrick : Trends in Energy Trading, Transaction and Risk Management 

Software – 2009 – 2010, 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 – 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.aspListID=30 




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 

analysts, Dr. Gary Vasey and Patrick Reames, bring years of practical experience to their roles. 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 

Dr. Gary M. Vasey, Managing Director 

International Business Center 

Prikop 4 

602 00 Brno 

Czech Republic 

Tel: +42 0 533 433 658 

info@commodity-point.com 




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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