CommodityPoint CTRM Software Sourcebook 2012 by Commodity Point

CTRM Software September, 2012

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Table of Contents Introduction to the CommodityPoint CTRM Software Sourcebook .................................................. 6 Important Disclaimer ........................................................................................................................ 7 How CommodityPoint Can Help Your Selection Process ................................................................... 9 What Is Commodity Trading, Transaction and Risk Management Software? ................................. 10 Front-Office Applications ............................................................................................................ 12 Electronic Trading .................................................................................................................... 12 Deal Capture ........................................................................................................................... 12 Real-time Trade Capture.......................................................................................................... 13 Trader Analytics....................................................................................................................... 13 Position Keeping ...................................................................................................................... 13 Scheduling Applications .............................................................................................................. 14 Pre-Scheduling and Scheduling ................................................................................................ 14 eTagging & ISO/RTO Interfacing .............................................................................................. 14 Middle-Office Applications ......................................................................................................... 14 Risk Management .................................................................................................................... 14 Credit Management ................................................................................................................ 15 Back-Office Applications ............................................................................................................. 16 Contract Management............................................................................................................. 16 Settlement & Invoicing ............................................................................................................ 16 Hedge Accounting ................................................................................................................... 16 Other CTRM Functions ................................................................................................................ 16 Requirements Dictated By Assets and Location .......................................................................... 17 Summary .................................................................................................................................... 17 Product and Vendor Listing ............................................................................................................ 19 Abacus Solutions, Inc. Saturn Version 3.0 ...................................................................................................................... 21 Agiboo Agiblocks .................................................................................................................................... 23 Allegro Development, Inc. Allegro ........................................................................................................................................ 25 Amphora, Inc. Symphony ................................................................................................................................... 27 Ascend Analytics, Inc. PowerSimm ................................................................................................................................ 29 Aspect Enterprise Solutions AspectCTRM ............................................................................................................................... 31 Brady PLC Brady 2011 ................................................................................................................................. 33 Comfin Software Gmbh

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

The Bulldog & Comcore .............................................................................................................. 35 Contigo Ltd enTrader ..................................................................................................................................... 37 Delta Energy Solutions AG Delta XE, ET3000......................................................................................................................... 39 Eka Software Solutions Pvt Ltd EKA CTRM Version 8 ................................................................................................................... 41 Encompass Technologies, Inc EnCompass Energy Suite ............................................................................................................. 43 Energeya LLC XDM Suite ................................................................................................................................... 45 ENSYTE Energy Software International GASTAR ...................................................................................................................................... 47 Entero Entero ONE ................................................................................................................................. 49 Enuit Enstep ......................................................................................................................................... 51 Generation 10 Ltd. G10 Commodity Manager .......................................................................................................... 53 HGH Dycotrade ................................................................................................................................... 55 IPESOFT Ltd. D2000 SELT ................................................................................................................................. 57 iRely iTrade ......................................................................................................................................... 59 IRM (An OpenLink Company) iOpt Version 6 ............................................................................................................................. 61 JustCommodity Software Solutions ContraXcentral ........................................................................................................................... 63 Lacima Group Lacima Analytics Version V6 ....................................................................................................... 65 LOGAVIV WPRIOP/CleaX ........................................................................................................................... 67 Murex S.A.S. MX.3 ........................................................................................................................................... 69 Open Access Technology International, Inc. webTrader Enterprise Version 7.0............................................................................................... 71 OpenLink Endur .......................................................................................................................................... 73 Pioneer Solutions, LLC TRMTracker ................................................................................................................................ 75 SAS and RiskAdvisory (A Division of SAS) SAS BookRunner Version 12 ........................................................................................................ 77 Sisu Group, Inc. PetroMan Version 11.4.0 ............................................................................................................ 79 Softsmiths Inc. SoftSmiths TMS .......................................................................................................................... 81 Solarc, Inc. RightAngle Version S11 .............................................................................................................. 83

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

SunGard Energy and Commodities Aligne ......................................................................................................................................... 85 Kiodex......................................................................................................................................... 87 TRADEPAQ TRM LLC TRADEPAQ TRM Version 4.1 ............................................................................................................................ 89 TransGraph Consulting Pvt. Ltd. TransRisk .................................................................................................................................... 91 Triple Point Technology, Inc. Commodity XL Version 7.12 ........................................................................................................ 93 Ventyx Monaco ...................................................................................................................................... 95 Woodlands Solutions, LLC Phoenix ETRM............................................................................................................................. 97 References & Other Useful Resources ............................................................................................ 99 References .................................................................................................................................. 99 Useful Resources ......................................................................................................................... 99 About CommodityPoint ................................................................................................................ 100 About UtiliPoint速 International, Inc. ............................................................................................ 101

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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 vendors' products at the time of going to print. CommodityPoint strongly advises users of this document to verify with the vendors the information contained within and undertake requisite due diligence when selecting software. Additionally, CommodityPoint analysts are available to assist or provide additional input on an advisory basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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

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

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Pre-selection workshop – CommodityPoint educates the core selection team on the market, vendors, implementation experience and more to better prepare you for the experience

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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 preames@utilipoint.com or mtredway@utilipoint.com.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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 physical and financial 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 and 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 companyâ&#x20AC;&#x2122;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 â&#x20AC;&#x2DC;energyâ&#x20AC;&#x2122; 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. As such, CommodityPoint has adopted the CTRM market identifier as this software is increasingly likely to cater for commodity trading generally and not just energy commodities. CommodityPoint analysis also demonstrates that there are also significant new areas of functionality required by asset-heavy users of CTRM 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

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

simplified comparison of "traditional" CTRM with our view of the emerging need for an asset centric CTRM solution. With the emergence of commodities as an asset class, the increase in the trend to trade energy-related and other commodities, the CTRM software space is both broadening in scope as new niches emerge such as that discussed above for more asset-heavy oriented traders. Indeed, the CTRM 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

Up to the Trade

Moving and Accounting for the Commodity

Deal Capture

Pre-scheduling / Scheduling / Logistics

Position Keeping

Physical Settlement and Invoicing

Trader Analytics

Volume Management

Market/Data Analysis

Reporting

Risk Analytics

Market Communication

Risk Reporting

NOMS / Confirmations

Counterparty Credit

Asset Management

Trade Settlement and Invoicing

Dispatch

Data Mining

Asset Optimization

Trading and Risk Controls

Multi-model Transportation

“Traders and Speculators”

“Asset heavy users”

Although CTRM software functional coverage can be difficult to define, another way to look at it is to consider the types of companies that utilize CTRM software as follows: •

Hedge Funds trading commodities

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Investment banks trading commodities

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Energy merchants trading commodities

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Multinational oil companies trading commodities

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Producers selling their production

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Utilities 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

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook •

Metals and other raw materials miners

•

Food processing companies

Given the list of different segments of the industry that utilize 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 a 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

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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 updated 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 –

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

For marketers with both wholesale and retail operations, credit management is a much more complex proposition. If utilizing a CTRM systemâ&#x20AC;&#x2122;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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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 â&#x20AC;&#x153;outsidersâ&#x20AC;? 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

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

SATURN, Version 3.0

Abacus Solutions, Inc.

24704 Voorhees Drive Los Altos Hills, California 94022 USA

Markets / Geographies Served

CommodityPoint Research Highlights In CommodityPoint’s April 2012 Vendor Perception th Study, Abacus ranked 14 amongst named vendors for Perceived Leadership for Unprompted Brand Recognition in Europe. Although not listed as a CTRM category leader in the April 2012 Study, Abacus has maintained its level of Vendor Awareness from 2009 to 2012.

Company / Product Information Abacus Solutions Inc. is the developer of SATURN, a webbased integrated enterprise E/CTRM 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 Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook • • • • • • • •

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, California 94022 USA Other Locations New York 1-646-360-1247 California 1-650-941-1728 London +44 20 3384 2676 Representative Clients • Scottish Power • PSEG • Texas Retail Energy Website www.abacussolutionsinc.com Licensing Abacus Solutions offers its software on a traditional licensed basis, on a Saas basis or hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Agiblocks, Version (Not specified) Agiboo

Guamstraat 8 1339 NB Almere The Netherlands

Markets / Geographies Served

CommodityPoint Research Highlights Agiboo is a very recent entrant to the CTRM market for software solutions. As such, CommodityPoint does not currently have industry perception data for the company. However, CommodityPoint anticipates that Agiboo will become a more visible technology vendor in the coming years. Recently opening offices in Singapore, Agiboo has increased its staff to 20 professionals.

Company / Product Information Founded in 2009, Agiboo is a professional organization delivering cost effective software solutions and professional consultancy services to the international commodity trading industry (both producers and traders). Agiblocks offers a clarifying dashboard from where one may choose to manage contracts, view positions and generate custom reports for any commodity trade. Physical versatility is provided by enabling an end user the ability to control trading activities Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

anytime, anywhere as Agiblocks is available for PC, tablet and mobile phone. The Agiboo solution is provided through a modulated format which they appropriately refer to as “Blocks”. Primary Data Management Blocks include: • Internal Companies • Counterparties • Relations • Users • Roles • Master Data • Sales Contracts • Purchase Contracts • Invoicing • Forex • Futures • Value at Risk • Commodity • Shipments • Position • Dashboard • Market to Market • Profit and Loss

Agiboo recognizes that there are various standardized CTRM and ETRM packages available from industry vendors which may not manage all aspects of a customer’s activities, or may not address all challenges. Agiboo provides customers the ability to develop customized software solutions to manage commodity trade activities and risks. They can also develop partial solutions and integrate these solutions in a customer’s current CTRM / ETRM system and thereby strengthening commodity trade and risk management. Main Office Guamstraat 8 1339 NB Almere The Netherlands +31 0 36 52 13131 Representative Clients • Neumann Kaffee Gruppe • Hotlett Sugar • Interfood Website www.agiboo.com

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Allegro, Version 8

Allegro Development, Inc. 1445 Ross Avenue, Suite 2200 Dallas, Texas 75202 USA

Markets / Geographies Served

CommodityPoint Research Highlights Allegro is one of the top five vendors in the CTRM software market according to the April 2012 CommodityPoint Vendor Perception Study. It ranked 3rd in named vendors for Brand Recognition in Europe and 2nd in North America. In Perceived Overall Market Leadership, Allegro placed well in Europe and North rd America with rankings of 3 in both markets. rd Allegro ranked 3 in named vendors for Perceived Leadership for energy commodities and crude trading, nd 2 in natural gas, coal trading, freight rates and shipping, 4th in electric power and agricultural trading solutions. rd Allegro also ranked 3 in SaaS or hosted delivery st solutions, and 1 in Perceived Leadership for Overall Architecture.

Company / Product Information Allegro is a global provider of energy trading and risk management software for power and gas utilities, refiners, producers, traders, and commodity consumers. For 27 years, Allegro has committed itself to advanced architecture, unique development and deployment approaches, and innovative products that closely align with customer business objectives. Allegroâ&#x20AC;&#x2122;s deployment enables rapid achievement of business objectives with phased implementations and minimal risk. The companyâ&#x20AC;&#x2122;s Collaborative Development Program allows Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

customers to participate in an iterative, market-driven development process. Allegro solutions help companies: •

•

• • •

Improve Position Analysis and Valuation - Make better business decisions with accurate and instantaneous views of positions and valuation Improve Trader Productivity - Streamline and automate trade processes to reduce the risk and cost of dual-entry and manual processes to allow maximum attention to profitable opportunities Manage Market Price Exposure - Mitigate exposure to volatile market prices with effective hedging and real-time updates, comprehensive metrics, and simulation Manage Counterparty Exposure - Mitigate exposure with credit and collateral management, and a flexible credit scoring process Manage Liquidity Exposure - Manage cash and capital adequacy with efficiency Achieve Hedge Accounting Compliance - Manage compliance with accuracy and confidence

Allegro 8 Technology Allegro’s latest generation of solutions are powered by grid computing to manage numerically intensive processes, leverage a Service Oriented Architecture for integration and connectivity flexibility, and use Standardized Integration Components to capture market behavior and leverage enterprise platforms. Grid Computing - Allegro solutions use grid computing to manage numerically intensive processes such as real-time valuation and optimization. Grid computing allows for P&L, VaR, MtM, exposure and other metrics to be continuously updated. As data points change, such as physical quantity, price or volatility, calculations occur automatically and the new information is instantly distributed across the enterprise. Interactive Trading Environment - Allegro 8’s Interactive Trading Environment (ITE) enables traders and marketers to view existing positions and to dynamically optimize them based upon real-time connectivity to more than 22 commodity exchanges as well as streaming pricing data. Profit & Loss, Value at Risk (VaR), Mark to Market (MtM), exposure and

other metrics are continuously updated. Optimized scenarios are ranked and allow the user to quickly identify the most profitable outcomes. Optimal scenarios can be transformed into strategies with a single click. Strategies consist of actual and hypothetical legs, and can be dynamically simulated to view affects of price movements, volatility and other variables.

Service Oriented Architecture and Standardized Integration Components - Allegro’s Service Oriented Architecture allows customers to select only the components and functionalities they need, while simplifying deployment and enabling companies to quickly expand into new markets. Web Services further enhance the SOA, allowing customers to integrate external systems and data sources directly into the Allegro platform. Allegro’s architecture also uses a standardized integration component platform for flexible integration with existing platforms and with partnerdeveloped components that provide direct connectivity to sources like Platts, Logical Information Machines (“LIM”), and commodity exchanges. As a result, Allegro’s solutions are readily implemented and expanded. Main Office 1445 Ross Avenue Suite 2200 Dallas, Texas 75202 USA 1-214-237-8000 1-888-239-6850

Other Locations Houston 1-713-650-6877 Calgary 1-403-705-4171 London +44 (0) 20 7382 4310 Zurich +41 (0) 44.2299 020 Singapore +65 6236 5730 Sydney +65 2 9238 6291

Representative Clients • Capital Power • Koch Minerals • National Grid • Saudi Aramco • SourceGas • Southwest Airlines • SUEK • Ameren Website www.allegrodev.com

Licensing

Allegro offers its software on a traditional licensed basis, on a SaaS basis or hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Symphony / Affinity, (Version not specified) Amphora, Inc.

10370 Richmond Avenue Suite 300 Houston, Texas 77042 USA

Markets / Geographies Served

CommodityPoint Research Highlights In CommodityPointâ&#x20AC;&#x2122;s April 2012 Vendor Perception th Study, Amphora placed 9 in named vendors for Unprompted Vendor Recognition. Their level of Vendor Awareness has remained almost unchanged since the 2009 Vendor Perception Study. It should be noted that Amphoraâ&#x20AC;&#x2122;s solutions have virtually equal Unprompted Brand Recognition in Europe and North America, ranking 9th in North America and 10th in Europe. Amphora ranked 7th in named vendors for Perceived Leadership in solutions for crude and crude products, th th 5 in freight rates, and 6 in shipping.

Company / Product Information Founded in 1997, Amphora, Inc. is a leading global provider of software solutions designed and developed for companies in the field of commodity trading and risk management. Since their inception, their main goal has been to provide the trading community with the most userfriendly, enterprise-wide software package available. Amphora continues to launch new products that address customers' needs and adjust to dynamic market demands. Amphora is a leading provider of energy trading, logistics and risk management solutions. It services the global crude oil, refined products and energy derivatives marketplace.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Symphony, Amphora’s ETRM solution, has a deep liquid hydrocarbon functionality, deal capture through settlement, straight-through processing and real-time position/profit and loss (P&L) management capabilities. Symphony provides accuracy and a deep level of P&L attribution. The System provides scenario modeling of the full life cycle of complex trades. Symphony has robust audit and control capabilities and features a highly intuitive, efficient and user-configurable interface, fast back-end performance and powerful visualization capabilities. Symphony’s architecture allows it to be rapidly and easily integrated to any third-party system.

Singapore, Malaysia; and Hyderabad, India, for 24/7 ‘follow-the-sun’ support. Amphora appeals to a broad client base, including integrated oil companies, merchant traders, refiners and marketers, utility companies and financial services companies such as hedge funds and banks.

In May of 2012 Amphora acquired the Affinity suite from Societe Generale. With the Affinity suite, which is based on the original Symphony source code, Amphora has now extended their solution offerings to include Gas and Power. Affinity has a well proven track record as a high quality platform for the trading, scheduling and settlement of gas and power instruments. The software also provides users with advanced risk and reporting features.

Other Locations Singapore +65 6533 8763 Switzerland +41 41 729 5400

Amphora is headquartered in Houston, Texas, with support and development centers located in Zug, Switzerland;

Main Office 10370 Richmond Avenue Suite 300 Houston, Texas 77042 USA 1-713-339-5600

Representative Clients • Mercuria • Noble Americas • Eni Trading Website www.amphorainc.com

Licensing

Amphora offers its software on a traditional licensed basis or hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

PowerSimm, (Version not specified) Ascend Analytics

1877 Broadway, Suite 706 Boulder, Colorado 80302 USA

Markets / Geographies Served

CommodityPoint Research Highlights Although not listed as an E/CTRM market leader in CommodityPoint’s April 2012 Vendor Perception Study, Ascend Analytics was ranked on a Prompted Brand Recognition basis in the 2009 Vendor Perception Study and is widely considered to be a leader in risk analysis and optimization around assets.

Company / Product Information 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 Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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. PowerSimm 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. PowerSimm simulates the key elements of complex energy portfolios including thermal, renewable, hydro and storage assets; outages, transmission and operational constraints; risk measures such as CFaR, CaR and VaR; and credit risk and potential future exposures. Industries • Utilities • Fuels • Gas Storage • Hydro Generation • Renewable Generation • Retail Energy • Wholesale Generators Capabilities • Weather and Load Simulation • Spot and Forward Price Generation • Complex Contract Modeling • Hedge Analysis and Design • Renewable Energy and DSM Modeling • Improved Risk Analysis

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 • Risk Management • Structuring Analyst • System Balancing • Trade Analyst Main Office 1877 Broadway, Suite 706 Boulder, Colorado 80302 USA 1-303-415-1400 Other Locations Montana 1-303-415-1400 California 1-303-415-1400 Representative Clients None provided Website www.ascendanalytics.com

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

AspectCTRM, Version "ASP" Aspect Enterprise Solutions, Ltd Castlewood House 77-91 New Oxford Street London WC1A 1DG

Markets / Geographies Served

CommodityPoint Research Highlights Although the seeing relatively low vendor awareness in the 2009 Vendor Perception Study, Aspect has been rebranded (from OILspace) and has increased their visibility considerably. In CommodityPointâ&#x20AC;&#x2122;s April 2012 Vendor Perception Study, it was shown that Aspect has significantly increased its Unprompted Vendor Awareness during the period from 2009 to 2012. Aspect ranked 2nd in the April 2012 Study in named vendors for SaaS or hosted delivery solutions for CTRM software.

Company / Product Information Aspect offers a SaaS delivered CTRM solution which delivers front to back office functionality for most energy commodities. The solution is entirely web-base and utilizes a modern SOA architecture and OLAP technology. AspectDSC, a Web-based information and decision support system for traders, supports a broad basket of commodities such as AspectCTRM Lite Edition, a deal capture system, and AspectCTRM and fully fledged CTRM solution. Aspect CTRM includes the following functionality:

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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 management component

trade

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 clients utilize a single code base, implementations are short and fast and 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 Other Locations Singapore +65 6738 6525 Moscow +7 495 925 7245 Chicago 1-847-866-8689 Kuala Lumpur +603 2776 6805 Representative Clients • Trafigura • TNK-BP • Masefield • Noble Resources • Chemoil • ITOCHU • Masoil • Core Petroleum • MRS Oil Nigeria • Petrodiamond • Hanwa • Bominflot • Integral Petroleum • Select Energy • Ambrian • OiLive • Sage Ghana Website www.aspectenterprise.com

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Brady, Version 2011 Brady PLC

281 Cambridge Science Park Milton Road Cambridge UK CB4 0WE

Markets / Geographies Served

CommodityPoint Research Highlights In February 2012 Brady announced the acquisition of Navita and Syseca. Given the timing, results from those acquisitions are not included in the market responses in the April 2012 Vendor Perception Study. In CommodityPointâ&#x20AC;&#x2122;s April 2012 Vendor Perception Study, Brady ranked 1st in named vendors for Perceived Leadership in the Base Metals and Precious Metals categories. Brady has more than doubled its Unprompted Vendor Awareness between 2009 and 2012. CommodityPoint anticipates the company will see increased market awareness as the result of the Navita acquisition and their new ranking as a top 5 vendor of CTRM products based on company revenues.

Company / Product Information 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 currently has 244 customers worldwide. Brady is a publicly traded company and had revenues of just over 19.2 million GBP for the 2011 financial year.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Brady has acquired a number of other providers in the last 2-3 years including VIZ Risk Management, Viveo Switzerland, ComSoft, and most recently Navita and Syseca, expanding its commodities and industry sector footprints as well as its global client base. Brady offers a choice of trading and risk management solutions designed to help 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 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 customization 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 +44 (0) 1223 479479 Other Locations London Philadelphia Paris Singapore Geneva

+44 (0) 20 7002 1619 1-610-941-2780 +33 1 4526 5937 +65 6725 6503 +41 22 869 1000

Representative Clients • Aleris • HSBC • Malteurop

• • •

Standard Bank Trafigura Xstrata Copper

Website www.bradyplc.com

Licensing

Brady PLC offers its software on a traditional licensed basis or hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

TheBulldog & Comcore ComFin Software Gmbh Wollzeile 6-8 1010 Vienna, Austria

Markets / Geographies Served \

CommodityPoint Research Highlights Best known in Europe, ComFin users participated at a higher rate than other vendors for deployed systems in use, relative to their number of installs, verses their competition in CommodityPoint's April 2012 Vendor Perception Study. According to the April 2012 Study, ComFin has dramatically increased its Unprompted Vendor Awareness in the CTRM software marketplace from 2009 to 2012.

Company / Product Information ComFin's TheBulldog CTRM software solution was first developed in 1999 by PVM Vienna. ComFin was created in 2005 to support and market this software. ComFinâ&#x20AC;&#x2122;s 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. ComFin provides automatic market quote downloads from data vendors and exchanges such as Platts, Argus, ICE, and NYMEX.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

ComFin offers several software components as follows: •

TheBulldog and its successor Comcore – CTRM solutions that incorporate: 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 Freight o Interfaces to 3rd party systems (SAP, Navision, ICE, etc.)

• Functionality readily adoptable to Agriculture

Main Office Wollzeile 6-8, 1010 Vienna, Austria +43 1 513 4704 Representative Clients • Litasco • PetroSA • Unipec • Galp Energia • Petrogal, Portugal • Vector Energy • Essar Oil Website www.comfin.net

ComFin offers 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)

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

enTrader, (Version not specified) Contigo Ltd

Blythe Valley Innovation Centre Central Boulevard Blythe Valley Business Park Solihull, West Midlands, UK B90 8AJ

Markets / Geographies Served

CommodityPoint Research Highlights CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study revealed that Contigo received numerous mentions as being one of the most recognized providers of CTRM software solutions. Contigo ranked 6th in named vendors for Perceived Leadership in solutions for natural gas trading, 5th for electric power trading, agricultural trading, shipping, and SaaS or hosted solutions, and 4th for coal trading. Of all the vendors participating in the April 2012 Study, Contigo showed the highest growth rate in Unprompted Vendor Awareness from 2009 to 2012.

Company / Product Information Contigo is a leading provider of trading and logistics software products for the energy industry. Based in the UK, it has developed the innovative and flexible enTrader Suite of products that deliver significant business value and early ROI to its customers.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

The enTrader suite was designed from first principles to provide a more flexible and innovative solution for today’s complex energy markets. With an emphasis on ease-of-use, ease-of implementation and cost effectiveness, enTrader delivers the information and functionality needed across all trading business functions. The enTrader suite is a “next generation” energy retail portfolio management and fuel logistics solution. It has been built using the latest technologies and development approaches to meet the Software as a Service (SAAS) application delivery model. It is equally well suited to being deployed on a customer’s own infrastructure or accessed via “the Cloud”. The enTrader suite provides a highly flexible solution to managing today’s complex and changing commercial environments within the energy industry. Contigo launched the enTrader software suite in 2009. Since then it has acquired significant market share in its initial target market of the UK energy industry. Contigo's clients include RWE, E.ON, British Gas Business, First Utility DRAX, Barking Power, OVO energy, Gas de France, Wingas and others. enTrader has succeeded in application areas where other ‘more established’ ETRM platforms have been deemed to be suboptimal; impractical, inflexible and costly in terms of both resources and fees. The product’s obvious competitive advantages include reduced "total life time cost", rapid implementation and ROI, ease of use, flexibility and extensibility - these are all factors in enTrader’s selection.

Contigo’s enTrader suite consists of applications for: • • • • •

Cross-commodity energy trading and portfolio management Full supply chain and power station fuel logistics including fuel stock accounting and environmental reporting Accurate energy pricing quotations UItra-industry communication Market data analysis and reporting

Main Office Blythe Valley Innovation Centre Central Boulevard Blythe Valley Business Park Solihull West Midlands B90 8AJ +44 (0) 8458 386848 Representative Clients • Barking Power • Centrica • Drax • E.ON • First Utility • RWE • OVO Energy • Bord Gais Energy Website www.contigoenergy.com

Licensing

Contigo offers its software on a traditional licensed basis, on a SaaS basis or hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

DeltaXE, (Version not specified) ET3000, (Version not specified)

Delta Energy Solution AG Peter Merian-Strasse 90 CH-4052 Basel Switzerland

Markets / Geographies Served

CommodityPoint Research Highlights Although not appearing as an E/CTRM market leader in CommodityPoint’s April 2012 Vendor Perception Study, it did register in the 2009 CommodityPoint Vendor Perception Study in the "First To Mind" category by virtue of its position in Europe where it ranked 12th at that time.

Company / Product Information Delta‘s focus is to support traders in contract management, scheduling and nomination, energy and capacity disposition, capacity management and balancing with its new standard software DeltaXE® (eXchange Energy). The very highlight is the scheduling/nomination and balancing functionality which covers more than 20 European markets (internal and cross border) up to now. DeltaXE® is configurable for different commodities such as power and gas and for different roles such as balancing group responsibilities, network carriers and control block responsibilities. DeltaXE® replaces the well established software ET3000, which is in use at many satisfied customers throughout Europe. Some of them, for example

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Alpiq and Repower have used it for more than 10 years for their scheduling business. Some advantages for customers using DeltaXE are: - Modular Structure A number of business applications use the same common system infrastructure, in which third party applications can be integrated. - Intuitive User Interface The use of the system is easy and similar across the modules. The presentation of the results is as graphically and numerically and the application context can be stored and reused. - Unlimited Use No limits in terms of time zones, calendars, commodities, frontiers. A service bus is the interface to the outside world. - Time-to-Market Data can be preconfigured for future market changes and then be activated time-point sharp. Business applications can be created by the customer with freely usable and customizable filters and calculations. - Business Processes A process engine is used for configuring business rules. - State of the Art Architecture The 3-tier architecture was realized with the open programming standard Java. The data is persisted in a scalable, high-performance database. - Scalable Security and Availability The safety concepts can be adapted to the respective company specifications. A role-concept simplifies administration. Transactions are logged auditable. Highavailability concepts guarantee reliability. Communication is secured by signatures and encryption.

- Flexibility Java provides open interfaces and easier integration of third party software. - Productivity Productivity introduction architecture, customer is money.

can be of the flexible getting

increased dramatically with the Java platform (e.g. component functions). This means that the new functionality faster for less

- Quality High quality of delivered releases as testing for procedural as well as business process level is done automatically. Main Office Peter Merian-Strasse 90 CH-4052 Basel Switzerland +41 (061) 270 84 40 Other Locations Germany +49 511 235 32 35 Representative Clients • Alpiq • Energiedienst • Statkraft Markets Website www.delta-energy.ch

Licensing

Delta Energy offers its software on a traditional licensed basis or on a SaaS basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

EKA, Version 8

Eka Software Solutions Pvt Ltd

Vrindavan Tech Village, Phase II, Aster Building 2A, East Tower, Devarabeesanahalli, Outer Ring Road, Bangalore 560 037 India

Markets / Geographies Served

CommodityPoint Research Highlights CommodityPoint’s April 2012 CTRM Vendor Perception Study saw Eka emerge, for the first time, into the upper echelon of Vendor Awareness in the CTRM software market, with its Unprompted Vendor Awareness almost tripling from 2009 to 2012. While Eka Software Solutions’ client base is virtually equal in Europe and North America, its Brand Recognition is highest in North America, ranking 11th in named vendors for Unprompted Brand Recognition. Eka ranked 3rd in named vendors for Perceived Leadership in agricultural trading and ranked 4th for SaaS or hosted delivery solutions.

Company / Product Information Eka is derived from the word “EKAM”, which means ‘unified’ or ‘integrated’ in Sanskrit, the ancient Indian language. It signifies its organizational intent to provide a single-platform solution for managing trade and risk across commodities, industry verticals and business segments. Eka employs over 220 professionals that cater to clients

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

across a cross-section of commodities, segments and sizes from offices in Australia, India, UK and North America. Products Overview Eka.Agriculture addresses the needs of different participants in the commodity supply chain, from origination, trading, exporting through to processing, across grain, coffee, cotton, sugar and other commodities. Eka.Metals is a comprehensive product specifically designed to handle requirements of trading in base metals, concentrates, ferro-alloys, steel, secondary/scrap, precious metals and other raw materials. Eka.Mining & Smelting gives the commercial department of miners and smelters a comprehensive solution to manage their concentrates requirements, including TC’s, RC’s, payable metal, penalties, assay rules, assay exchange, umpire rules, settlement, blending and tolling. Eka.Metal Processor assists risk managers to identify, measure and manage any mismatch in the metal pricing between their incoming raw materials and their outgoing end products. Eka.Energy is a specialized solution for traders of crude oil, refined products, bio-fuels and coal, with an unmatched solution focused to manage the entire trade lifecycle including detailed management of logistics operations and physical invent. Eka.Analytics, released in July 2012 is CTRM platform agnostics and can be used as add-on module with Eka CTRM or can be integrated with third party CTRM solutions, spreadsheets and order management systems. Eka.Analytics would be accessible both on web and native mobile applications like smart-phones and tablets. Eka.Analytics has the capability to mine, analyze and generate real time insights that could easily be customized for both strategic decision making by C-level executives, traders and risk managers for tactical purposes.

In August 2012 announced the release of a commodity sourcing and processing solution for Consumer Product Group (CPG) firms. According to Eka's website, the solution would enhance a company's ability manage the volatilities of commodity markets by rationalizing their input costs and proactively managing their commodity sourcing and processing operations. For Consumer Product companies, volatility in input and energy costs, ever-increasing competition, stringent government regulations, health concerns and the rise of new markets are but some of the challenges affecting the strategic landscape, business performance and profitability. These challenges are forcing CPG companies to look beyond the traditional long term supply contracts with fixed prices for procurement of raw materials and look at new methodologies for hedging price volatility and securing physical supply. Eka’s platform for CPG companies would help them face these challenges by managing demand aggregation, physical & financial trading, scheduling & logistics, hedging strategies and provide them with greater control over raw material procurement. Eka’s solution provides sophisticated functionality to handle processing & logistics, capacity & sales planning, risk management, compliance and business intelligence. Main Office Vrindavan Tech Village, Phase II, Aster Building 2A, East Tower, Devarabeesanahalli, Outer Ring Road, Bangalore 560 037 India +91 80 4081 9200 Other Locations United Kingdom +44 208 973 2683 Connecticut, USA 1-203-810-4250 Sydney, Australia +61 0 4479 77831 Representative Clients • Tata Corus • GrainCorp • Superior Essex • Louis Dreyfus • Noble Group • Boliden Website www.ekaplus.com

Licensing

Eka offers its software on a traditional licensed basis, on a SaaS basis or hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

EnCompass Energy Suite, (Version not specified)

Encompass Technologies, Inc. #730 734 7th Ave S.W. Calgary, Alberta T2P 3P8

Markets / Geographies Served

CommodityPoint Research Highlights EnCompass received numerous mentions in Overall Market Awareness in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study. In North America, Encompass software users participated at a higher rate than other vendors for deployed systems in use, relative to their number of installs verses their competition, than any other vendor. Virtually quadrupling its Unprompted Vendor Awareness since 2009, Encompass is emerging, for the first time, into the upper echelon of CTRM solution providers. Encompass ranked 7th in named vendors for Perceived Leadership in crude trading, 4th in natural gas, 6th in electric power trading, 6th in agricultural trading, and 8th in overall architecture.

Company / Product Information Established in 1993, EnCompass Technologies Inc. is focused on the delivery of energy transaction and risk management solutions to the energy trading industry.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

The EnCompass Energy Suite is a fully integrated physical and financial ETRM platform. From inception the system has been designed to simplify the complex nature of both physical and financial trading while providing advanced processing and risk management capabilities. Developed initially by EnCompass Technologies in conjunction with one of North America's leading power and natural gas trading firms, it was designed as a single platform to support multiple commodities, transaction types, currencies and unit of measures for the entire life cycle of complex physical and financial transactions. EnCompass' focus is on providing an exceptional ETRM platform utilizing current technology and supporting clients with outstanding service. The system provides clients with the ability to manage the commodity trading and operations from automated trade loads to settlement with complete control and audit over all the activities in the trade life cycle. The full range of risk metrics apply to all transaction types including complex physical structures on best available quantities without the requirement for 'modeling' the transaction. Advanced capabilities such as day-over-day PnL explained by risk factor and deal activity, VaR, FX and interest rate exposure all are 'out of the box'. The EnCompass Energy Suite is a fully integrated energy transaction and risk management system that covers all aspects of the energy transaction life-cycle. 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. • •

Covers the complete life cycle of a transaction from transaction capture through confirmations, 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

Main Office #730 734 7th Ave S.W. Calgary, Alberta T2P 3P8 1-403-237-7740 Other Locations None Representative Clients • TD Bank Capital Markets • EDF North America • Sask Energy Website www.encompass-technologies.com Licensing EnCompass offers its software on a traditional licensed basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

XDM Suite, (Version not specified) Energeya LLC

914 Shaw Circle Melbourne, Florida 32940 USA

Markets / Geographies Served

CommodityPoint Research Highlights Energeya is a relatively new company that has a strong emphasis and position in the Italian energy markets. In CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, it was shown that Energeya has significantly increased its Unprompted Vendor Awareness since 2009. Energeya ranked 13th in named vendors for Unprompted Brand Recognition in European markets.

Company / Product Information Energeya addresses the business and process requirements of energy companies with a proven methodology and with the knowledge of the local market regulations. Energeya guarantees its clients a quick and efficient time-to-market solution in complete compliance with each company's existing and evolving market strategy. Understanding and control of a clientâ&#x20AC;&#x2122;s market requirements is provided by Energeya's Business Consulting practice. Moreover, Energeya recognizes the business partnerships with best-of-breed trading and energy consulting companies. Such partnerships provide Energeya

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

with the further insight and competence on the different local markets which are key differentiators in the construction and evolution of the relationship with its clients. By covering the entire Energy Management value chain, Energeya can both support regulatory changes from a technological standpoint and grant a cross redesign of vertical processes to support IT solutions. Energeya's solutions are conceived with the knowledge that each company requires its own rules and process flows to support the business. Energeya's Rules Engine is natively embedded in all modules of the product suite. Standardized libraries of algorithms and models provide the start up elements for the personalization and adaptation of the solution to the client's business needs. Energeya’s XDM Suite is designed to support the physical and financial aspects of the business, managing straightthrough processing from pre-deal to deal capture to deal execution to settlement, risk management and analytical modeling. » Power is the most complex commodity to be fully supported by an ETRM solution (incredibly large data volumes, mixed interval-lengths, real-time physical position balancing, settlement involving both financial and physical rules etc.). Embedding the complexity of Power in the native design of the product provides maximum flexibility and effectiveness in dealing with other commodities. » Gas Supply management involves specific processes and data structures, such as complex formulas, contractual constraints and the capability to evaluate logistic value chain costs in an effective way. Embedding specific processes, such as Gas Supply management, in the native design provides the capability to manage effectively not only a gas portfolio but a mixed (multi-commodity) portfolio.

» Model: “From Contracts to Trade Positions: Curves (or Time Series) "- The underlying atomic unit of information. » Energeya’s model for managing Time Series allows mapping any sort of profile or vector-based commodity data. » Using configurable trade templates, Energeya can easily map all types of deals, physical positions, financial positions, fees, internal deals, etc. » Consistency: “A value proposition growth in time on the same platform”. » A uniform technology, architecture and approach. » Significant organic growth without third party product acquisitions. Main Office 914 Shaw Circle Melbourne, Florida 32940 USA Other Locations Via G. Ferrari, 39 20052 Monza (MB) +02 3 0312 3637 Representative Clients • EGL Italia • Enel GEM • Enel Green Power • GasTerra • Exergia Website www.energeya.com Licensing Energeya offers its software on a traditional licensed basis, on a SaaS basis and as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

GASTAR, (Version not specified)

ENSYTE Energy Software International, Inc 770 S. Post Oak Lane, Suite 330 Houston, Texas 77056 USA

Markets / Geographies Served

CommodityPoint Research Highlights ENSYTE is a specialist provider of Oil & Gas technology solutions based in Houston, TX and has been in business since 1982. The company's non-CTRM products have been implemented globally. In CommodityPoint’s April 2012 CTRM Vendor Perception Study, it was shown that ENSYTE has significantly increased its Unprompted Vendor Awareness from 2009 to 2012.

Company / Product Information 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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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

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 Division of interest: Well and Lease ownership profiles for working and revenue interest parties

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

Production Management: Full field, reservoir and well management modules addressing all aspects of standard production operations, including water, steam and CO2 floods

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

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

Transaction Accounting and GL Interface: Full tracking of AP/AR transactions with month end accrual, invoicing, reconciliation, GL account summary and rollup

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.

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

Main Office 770 S. Post Oak Lane, Suite 330 Houston, Texas 77056 USA 1-713-622-2875 Other Locations None Representative Clients Not provided Website www.ensyte.com

Licensing Ensyte offers its software on a traditional licensed basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Entero ONE, (Version not specified) Entero Corporation

500, 1040 – 7 Avenue SW Calgary, Alberta T2P 3G9

Markets / Geographies Served

CommodityPoint Research Highlights Entero markets its CTRM software solutions primarily in North America to oil and gas producers of all sizes and has recently released new trading capabilities in its Entero ONE product. This edition of the CommodityPoint SourceBook will be first listing for Entero.

Company / Product Information Entero (originally OmniVision Management Systems, Inc.) was founded in 1994 with a goal to develop a new type of enterprise system that could evolve with rapidly changing business and technological environments. By 2002, Entero, Inc. was formed to service the U.S. marketplace and the software solution evTM was marketed across North America. In 2008 Entero Corporation officially launched the Entero® ONE™ platform which unified energy industry data and business processes and brought key Entero systems onto a shared platform. By this time one third of Canada’s top 100 oil and gas companies were using Entero business software solutions and Entero reached 1,000 end users.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

The company’s latest product, Entero® ONE™ (E1), is dramatically different than systems originally developed for specific functions and markets using the traditional top down design methodology. Entero ONE was designed from the bottom up using highly abstract and generic data objects that can be configured to support any commodity, in any currency, in any unit of measure, for virtually any business scenario. This is an innovative new solution that delivers accurate and timely information in a single platform, without separate functional modules, so companies can model their physical, contractual, and logical business infrastructure once, and then support all operational and accounting requirements from this single source of data. Managing all data within one system minimizes the need for the systems integration and ongoing maintenance typically associated with software of this nature. It also eliminates duplicated, fragmented, and conflicting data, and delivers information clarity, accuracy, and timeliness. Entero ONE currently provides functionality for the following: • • • • • • • • • • • • • •

Contract management Complex formula prices Scheduling, logistics and fleet management Inventory valuation (Activity Based Costing) Profitability reporting Mark to market reporting Taxes and invoicing Accounts payable and receivables General ledger and consolidated financial accounting Plant allocations Production, revenue & royalty accounting Midstream fees and accounting Fixed asset accounting Joint venture accounting

Key Benefits: • Flexible business modeling tool supporting multicommodity deal capture through multi-mode logistics to invoicing and accounting, on a single platform that minimizes IT, communication, and system reconciliation costs • Specialized functionality supporting highly complex industry scenarios including management of components of raw gas and gas liquids supporting automation of previously manual processes • Sophisticated inventory management and valuation capability, providing accurate profitability analysis at any level of detail • Integrated role based security and client definable workflows facilitate more structured processes and support SOX compliancy • Embedded report wizard and generic data provider concept delivers the ability for users to create or modify their own reports and simplifies interface development • Continually enhanced system that enables growth opportunities Main Office 500, 1040 – 7 Avenue SW Calgary, Alberta T2P 3G9 1-403-261-1820 Other Locations None Website www.entero.com Licensing Entero offers this product on a traditional licensed basis, on a SaaS basis, as a hosted solution, or on a monthly lease.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Enstep, (Version not specified) Enuit, LLC

4002 Bay Shore Drive Missouri City, Texas 77459 USA

Markets / Geographies Served

CommodityPoint Research Highlights Enuit is a relatively new entrant to the market for E/CTRM software solutions, having completed several implementations of their core product Enstep within the last 2 years.

Company / Product Information The principals of Enuit have over 50 years of combined experience in the energy trading industry. They have led the development of many information software packages, some of which are still used to run energy trading companies around the world. Enuits founders truly believe in staying on the cutting edge with the best development tools and latest technology that will help our customers stay competitive. The Product Spreadsheet-style or form-style deal entry • • • • •

Enter deals quickly using templates Handles both daily volumes and prices as well as date range based volumes and prices Decomposes risk using user-defined rules Transfers risk automatically with Inter-book trades Captures miscellaneous deal fees

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Pathing and scheduling • Replaces pathing spreadsheets generally used today in most commodity trading organizations • Maintains pre-determined scheduling paths, just like pathing spreadsheets used by NG schedulers today • Records Upstream and Downstream contracts, and even allows multiple upstream or downstream contracts with volume allocations • Displays Pipeline balances by pipeline and zone, including and excluding scheduled shipments • Generates nominations automatically in all three nomination formats: Pathed, Non-pathed, and Pathednon-threaded • Actualizes nominations to pipeline statements Transportation Contract and Tariff data Management • Handles summer and winter tariff rates matrices and user-defined charges, fees, and fuel loss rates • Stores Contract, zone-based, and point-to-point-based MDQs, rates, and fees • Facilitates firm contract release management Inventory (Storage) Contract Management • Captures and uses storage ratchets to create injection and withdrawal schedules automatically • Maintains inventory value using FIFO, LIFO, or weighted average inventory costing methodology Producer Services and NG Processing Contract management • Manages processing agreements with NG Processors and Producers • Forecasts, schedules, and settles all revenues, costs, and calculating factors embedded in processing agreements • Reconciles pipeline and processor settlement reports

Additional Features • Addition of new types of deals without programming a single line of code • Analyze risk and independent analysis “play” area using private curves, “what-if” scenarios, and several different Value at Risk methods • Implement trading and position limits • Manage counterparty credit using personal credit scoring methodology • Generate billing statements and assigns general ledgers codes automatically for general ledger interfaces • Calculate netback prices for production marketing business units and create distribution networks to ease scheduling • Bolt Enstep on to your existing technological infrastructure to extend its capabilities and functionality Main Office

Enuit Corporation 1001 Texas Avenue Suite 405 Phone: 281-456-3690 Other Locations None

Representative Clients • Arch Energy Resources • MXEnergy (Now Constellation) • TexlaEnergy • Texon LP Website www.enuit.com Licensing Enuit offers its software on a traditional licensed basis, on a SaaS basis and as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

G10 Commodity Manager, (Version not specified)

Generation 10 Ltd. Highpoint, Level One 34 Highfield Street Liverpool, L3 6AA UK

Markets / Geographies Served

CommodityPoint Research Highlights Generation 10 markets its CTRM solutions primarily in Europe and South America in the Agricultural Commodities market. This edition of the CommodityPoint SourceBook will be first listing for Generation 10.

Company / Product Information Generation 10 has served many of the leading cotton trading firms for the past 12 years. In 2010, G10 invested heavily in an overhaul to take advantage of new technology and acquired experience to make a future-ready, configurable multi-commodity supply chain management suite of modules. This is already showing a competitive advantage over other offerings in the market. They are now in a period of rapid expansion as they enter other commodity sectors. G10â&#x20AC;&#x2122;s Commodity Manager solution offers complete physical risk management and supply chain optimization tools. In addition to the essentials; position, M2M, cash flow, credit limits, costing controls, inventory, execution, G10 sees the future success of a commodity trading Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

company in how it optimizes its supply chain, based on sound information gathering, processing, measurement, analysis and dissemination. G10’s web-based platform enables the integration of the supply chain, improving customer service and supplier selection, adding value throughout the process. Visualization: A library of dashboard widgets, configurable by user role provide the transparency and insight required for informed decision making at every level. Bottlenecks and limits are preempted before they become expensive problems. Dragand-drop, drill-down functionality pinpoints the cause, dispelling rumor and conjecture. Accessible from the desktop, laptop and most kinds of mobile smart device, Commodity Manager brings disparate, geographically scattered data and people together on one secure collaborative platform. G10’s Commodity Manager is a suite of modular components that are configurable to any type of physically traded commodity that is shipped in containers, break-bulk or tank – out of the box. Built on a proprietary rapidapplication framework, Commodity Manager is one of a number of applications that G10 deliver. Others include; big data analysis, freight forwarding, automated laboratory management, quality assurance, marine insurance, round trial management, warehousing.

Security, roles and permissions, business processes and workflows can all be configured in the user front-end, helping to ensure it will adapt to evolving business needs without getting into the code. Intuitive and comprehensive in design, Commodity Manager is used to help train people in the business of commodities. In such a specialist area where an experienced, available workforce is a scarce commodity, Commodity Manager helps new recruits contribute to the bottom line faster. Corporate governance tools, templates, checks and balances ensure accuracy of data from origin all the way up to the management reports. Scalable implementations without the often punitively high implementation fees and lead times. G10’s Commodity Manager is accessible to SMEs as well as multi-national, multi-commodity, multi-currency companies. Main Office Highpoint, Level One 34 Highfield Street Liverpool, L3 6AA UK +44 151 709 0005 Other Locations Brazil +55 65 9624 2877 Representative Clients • ECOM • ICAC • ICA • Libero • Plexus • USDA Website www.generation10.net

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

DycoTrade, (Version not specified) HGH

Stroombaan 6-8 1181 VX Amstelveen The Netherlands

Markets / Geographies Served

CommodityPoint Research Highlights DycoTrade was initially designed to provide capability for the Netherlands' energy markets and, given its limited geographic and commodity coverage, has not regularly appeared in market responses to CommodityPoint's research.

Company / Product Information HGH as developer of DycoTrade has been active for more than 10 years as a business consultant in ICT. They develop branch-specific solutions based on Microsoft Dynamics AX, such as DycoTrade. In HGHâ&#x20AC;&#x2122;s activities they look literally and figuratively across the borders. Together with international partners, they strive for a full-cover network in the Netherlands and the rest of the world. The certification of DycoTrade by Microsoft gives HGH relations and partners the assurance that the solution meets the same quality standards that Microsoft applies to its own products. Thanks to growth of the customer base, HGH can quickly add new functionality. This solution takes into account all facets of national and international trading processes and link work flows. A client can have real-time insight into what is happening with just a single push of the button; such as an open position

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

compared to the actual margin, the closed position against the margin, cash flow and history achieved. And because the solution is completely integrated, clients can rely on one truth. LOGISTICS PROCESSES DycoTrade contains extended support for the logistics operation. In this way a client can track various purchase and sales contracts in one shipment or transport order and have a week planning with on demand status. Thanks to route templates completed in advance, a client can have financial insight into costs for freight, customs, commission for agents and storage. DycoTrade provides all the lay-outs and reports that a logistics department requires. A client can have information whenever needed about the stock position, reserved, location, quality, packaging and value of the goods. RISK FUNCTIONALITY A client can hedge the outstanding physical contracts against Future contracts using the Risk functionality. For this, clients can when desired, choose for specific exchanges. Clients can also quickly retrieve current information about covered and open positions. Dycotrade Contains: • Physical contracts • Commission contracts • Futures and Options contracts • Currency contracts • Goods positions • Currency positions • Dynamic fields functionality (tracking specific characteristics per article or group)

• Extended contract screens • Calculations contracts and demands • Intercompany relations • Intercompany trade • Logistics and shipping • Product specifications • Revaluation / Mark to Market • Extensive reporting possibilities • Integrated ERP functionality such as Finance, CRM, Production, Warehouse Management and Logistic operations Main Office Stroombaan 6-8, 1181 VX Amstelveen The Netherlands +31 (0)20 640 3413 Other Locations Astronaut 28 3824 MJ Amersfoort The Netherlands +31 (0)33 450 8760 Representative Clients • Meelunie BV • Steelex A/S • Tradin/Sunopta • Marvesa BV Website www.hgh.nl Licensing HGH offers its software on a traditional licensed basis, on a SaaS basis and as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

D2000 SELT, (Version not specified) IPESOFT Ltd.

Bytcicka 2, 010 01 Zilina, Solovenska Repubilka

Markets / Geographies Served

CommodityPoint Research Highlights IPESOFT markets its E/CTRM software solutions primarily in the European markets for power and natural gas producers and distribution system operators. This edition of the CommodityPoint SourceBook will be first listing for IPESOFT.

Company / Product Information IPESOFT SELT is a multifunctional energy commodity trading software solution with the comprehensive support of related activities. The software supports electricity, heating, gas and emissions trading. It is a comprehensive E/CTRM software solution with analysis support, energy stock market access, predictions, mapping and contact management. It provides full support for financial operations, comprehensive management of cash flows and risk minimization support. IPESOFT SELT is designed for vendors, providers, dealers, energy wholesale customers as well as self-sustaining manufacturers. It offers an optimized solution which sufficiently covers the particular needs of customers according to their individual requests. It is designed to consider the demands of business and manufacturing Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

enterprises outside the energy sector during optimization of financial processes.

the

IPESOFT SELT is a solution founded on its own real-time IPESOFT D2000® technology. It contains prediction modules, implements long-term experience from a wide range of successful installations, develops continuously and is supplemented with new functions. With its continual development, IPESOFT SELT ensures current monitoring of market and legislative changes as well as alternating conditions on the European liberalized energy market and also enables the integration of new features into the system. IPESOFT SELT Basic Modules It is the set of modules providing communication with external platforms. They provide an interface for collecting and processing energy market stock data, for communication with broker platforms, collection, processing and recording of weather development data. Simultaneously, they enable the creation of balances, perform calculations of possible positions for financial/stock market products, and provide the option to create reports or modify existing ones. They support data Exchange with ERP (Enterprise Resource Planning) systems. IPESOFT SELT Risk Management Modules The set of modules providing the operations of risk management – generating and visualization of spot, forward and FFP (Firm Fixed Price) curves for individual markets, defining and monitoring of contract and summary position limits and evaluation of transactions, business position, and business and credit risks. They also enable the measurement of undesired change in business Mark to Market positions and support the generation of Value at Risk reports. They support monitoring of business partners' credit exposition based on registered contracts and agreed payment schemes and they also support the production of Cash Flow reports for all contracts.

IPESOFT SELT Cash and Finance Modules It contains advanced monitoring modules of treasury and credit operations, supports linkage to billing, the cash flow of direct and indirect business activities, credit calculation, account linkage; it enables the setting of limits for various operation types, records contracts covering overhead expenses, supports cash flow calculation, expenses summary, structural planning and monitoring of expenses, records all entered credit card transactions – all of this in real time. The cash flow manager module centrally manages financial operations and represents the central interface linking individual, logical parts of the system. The system contains modules for direct communication with banks, not only for bank transaction and operation processing but also for entering bank orders. IPESOFT SELT Document Management Module This module enables advanced and detailed document management. Main Office

Bytcicka 2, 010 01 Zilina, Solovenska Repubilka Other Locations Czech Republic

+420 597 305 938

Representative Clients • ENEL – Slovenske elektrarne • Slovnaft • CEZ • RWE • GGE Website www.ipesoft.sk Licensing IPESOFT offers its software on a traditional licensed basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

iTrade, (Version not specified) iRely

4242 Flagstaff Cove Fort Wayne, Indiana 46815 USA

Markets / Geographies Served

CommodityPoint Research Highlights iRely’s received mention in the Unprompted Name Recognition" category in CommodityPoint's 2010 NonEnergy CTRM Vendor Perception Study and ranked in the fourth quartile in Prompted Name Recognition. The company did not appear in the 2012 CTRM Vendor Perception Study.

Company / Product Information iRely is a global provider of software for the physical commodity ecosystem serving organizations that handle origination, trading, manufacturing and distribution of commodities. iRely consists of 175+ co-workers globally with locations in USA, Europe and India. Over 450 customers in 15 countries run their commodity business on iRely software. iRely covers the following high level functionality for commodities: • Contract Management • Futures Management • Allocations • Enterprise Risk Management • Traffic/Logistics Management • Inventory Management Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook • • • • • • • • • • •

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

iRely’s clientele consists of leading commodity based corporations in the following industries: • • • • • • • • •

Processors Grain Terminals and Elevators Merchandisers Agribusiness and Petroleum Cooperatives Feed manufacturers Commodity Traders Food manufacturers Biofuel manufacturers Petroleum distributors Convenience Stores

Main Office 4242 Flagstaff Cove Fort Wayne, Indiana 46815 USA Other Locations Fort Wayne, Indiana USA New Jersey, USA Bangalore, India Philippines United Kingdom

1-800-433-5724 1-856-780-9150 +91 80 4112 2584 +63 2757 1886 +44 12 0286 3839

Representative Clients • Cevital spa • SOPEX Group • C. Steinweg Handelsveem B.V. • Tata Coffee Ltd • Webcor SA • Blaser Trading Ag • Agrana Sugar Trading • Energy Comercial Importadora e Exportadora Ltda Website www.irely.com Licensing iRely offers its software on a traditional licensed basis and as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

iOPT, Version 6

IRM (An OpenLink Company)

Wienerbergstr 31-39 A-1120 Vienna

Markets / Geographies Served

CommodityPoint Research Highlights IRM is an OpenLink Financial company and as such Research Highlights were included with OpenLink in the April 2012 CTRM Vendor Perception Study. Please refer to the OpenLink Endur Research Highlights in this SourceBook for additional information.

Company / Product Information 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 controls and supports: â&#x20AC;˘

Central management of master data and business model information

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CTRM Vendor and Product Sourcebook • • • •

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, and price simulations.

The iOPT_PRO forecasting application enables estimation of developments of the (gross) load, price inflow forecasting parameters with different models methods support planning horizons from the next hours up to several years.

the and and few

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 +43 1 81 130 0 Other Locations See OLF listing Representative Clients • AXPO • CURRENTA • Eni Power • RheinEnergie Trading GmbH • Shell Energy Website www.irm.at

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.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

ContraXCTRM, (Version not specified) JustCommodity Software Solutions 315 Alexandra Road #05-02 Singapore 159944

Markets / Geographies Served

CommodityPoint Research Highlights Although not noted in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, JustCommodity was indeed highly ranked in several categories in CommodityPoint's 2010 Non-Energy CTRM Vendor Perception Study. In the 2010 Study, JustCommodity ranked 7th in named vendors for Prompted Name Recognition, 2nd in Perceived Leadership in softs and bulk commodities, 2nd in contract management, 3rd in financial trading, risk management and reporting, and 4th in Overall Named Market Leadership and supply chain.

Company / Product Information 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: Copyright 2012 UtiliPoint International, Inc.

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CTRM Vendor and Product Sourcebook

Operational Efficiency • Contract Execution • Buy/Sell, Forward/Spot Contract Execution • Document Automation • Contract Management • 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 • Risk Management • 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

Empower Business Intelligence • Management Dashboard • Group realized and unrealized 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 315 Alexandra Road #05-02 Singapore 159944 +65 6602 6363 Other Locations None Representative Clients • IFFCO • Cargill • R1 International • PTT Green Energy • Sime Darby • Unimills BV

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

Website www.JustCommodity.com Licensing JustCommodity offers its product on a traditional licensed basis and as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Lacima Analytics, Version V6 Lacima

1 Berkeley Street London W1J 8DJ UK

Markets / Geographies Served

CommodityPoint Research Highlights Lacima has traditionally been viewed as a specialist Risk Management and Analytics solutions provider as opposed to a mainstream E/CTRM platform. Indeed Lacima places great emphasis on working directly alongside mainstream E/CTRM software to enhance their Risk Analytics information. Lacima is viewed as a perceived market leader for market risk. However, due to its specialized market focus, it is not often noted in market responses to CommodityPointâ&#x20AC;&#x2122;s global CTRM market research.

Company / Product Information Lacima is a specialist provider of software dedicated to valuation, optimization and risk management for global energy and commodities markets. Its solutions help its clients to maximize profit potential and make more informed decisions by providing tools that yield more accurate valuations, hedging and risk exposure analysis for portfolios of financial contracts and physical assets. Clients include structuring, valuation and risk teams in vertically integrated energy companies with physical assets,

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CTRM Vendor and Product Sourcebook

energy retailers, financial institutions and large energy consumers from Europe, North America and Australasia. Lacima Analytics Lacima’s flagship application, Lacima Analytics, handles the full range of simple to sophisticated models and asset types. The application is developed and implemented in energy analytics, offering an excellent level of expertise and personalized support. Lacima Analytics is designed to work seamlessly with other systems, resulting in quick implementation without the need to replace any existing deal capture systems and databases. 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. Furthermore, its flexible, open framework architecture supports existing inhouse teams by enabling clients to easily incorporate their own internally developed intellectual property. Overview of software suites Lacima Analytics comprises three primary suites offering a full range of valuation, optimization and risk management capabilities across portfolios of financial contracts and physical assets in a single consistent environment. Valuation and Optimization Suite Structure, value and hedge portfolios that include standard financial contracts as well as swing, storage, pipeline and generation assets, taking into account their operational flexibility and wide-ranging constraints, with the ability to jointly optimize financial contracts and physical assets. Risk Management Suite Calculate and report a comprehensive range of risk metrics, taking into consideration the unique behavior of energy prices, the complexities of financial hedge contracts as well as physical asset constraints. All key market and creditbased metrics available including: mark-to-market, delta value-at-risk (VaR), historic simulation VaR, Monte-Carlo VaR, potential future exposure, earnings-at-risk, revenueat-risk and cash flow-at-risk.

Portfolio Management Suite Combine complex portfolios of physical assets and financial contracts to enhance value and profit potential. Lacima offer solutions for portfolio hedge optimization, gas network optimization, hydro dispatch, hybrid modeling and cargo shipping. Main Office 1 Berkeley Street London W1J 8DJ UK +44 (0) 20 340 22173 Other Locations Houston 1-713-353-3949 Sydney +61 (2) 9275 8818 Representative Clients • SSE • Centrica • Gazprom • National Grid • Noble • Puget Sound

Website www.lacimagroup.com Licensing Lacima offers its product on a traditional licensed basis.

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CTRM Vendor and Product Sourcebook

WPRIOP/CleaX, (Version not specified) LOGAVIV

14 Place Georges Pompidou 93167, NOISY LE GRAND Cedex France

Markets / Geographies Served

CommodityPoint Research Highlights LOGAVIV markets its CTRM solutions primarily in Europe for the Agricultural Commodities market and given its limited geographic and commodity coverage, the company does not regularly appear in CommodityPoint market research responses.

Company / Product Information LOGAVIV started developing CTRM solutions as soon as the first NYSE-EURONEXT commodities contracts emerged. WPRIOP allows a user to manage and monitor a complete trading portfolio composed of physical and derivative contracts including Futures, Swaps, Structured Products, Options and Basis contracts. It integrates a mark-to-market valuation system, synthetic or detailed dashboard capabilities, and graphical and reporting functions. Initially developed for agricultural commodities markets but always focused on risk management, the software is fully suitable to trading and financial department for any kind of commodity This includes oil, gas, electricity, steel, metal, softs and even currencies. Copyright 2012 UtiliPoint International, Inc.

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CTRM Vendor and Product Sourcebook

In order to adapt to each company’s risk management framework, the software configuration and settings may be personalized without any computer programming skills. The LOGAVIV risk management solution is now composed of two different elements interconnected. These are WPRIOP and CleaX. The main purpose of WPRIOP is to help traders to make a trading decision, and provide impact data on their portfolio, as well as any hypothetical action on it. In a different interface, CleaX; operators have the opportunity to control and validate their portfolio, capture trades directly from the clearer, and estimate treasury risk thanks to an integrated SPAN calculation capacity. In accordance with end user needs, each solution (WPRIOP/CleaX) can be used independently or together. To address any double-entry issues, users also have the possibility to connect WPRIOP to their main information system.

Main Office 14 Place Georges Pompidou 93167, NOISY LE GRAND Cedex France +33 1 5399 1919 Other Locations France +33 1 5399 1919 Representative Clients • Malteurop • Axereal • Tereos Syral

Website www.logaviv.com

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

MX.3, (Version not specified) Murex S.A.S.

8 rue Bellini 75782 Paris Cedex 16 France

Markets / Geographies Served

CommodityPoint Research Highlights In CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, Murex received numerous mentions as being one of the more recognized providers of software solutions in CTRM. In the April 2012 Study, Murex ranked 8th in named vendors for Perceived Leadership for Unprompted Brand Recognition in European markets. It ranked 2nd in named vendors for Perceived Leadership in precious metals trading and 6th in Base Metals trading solutions. According to participant responses in the April 2012 Study, Murex has almost doubled its Unprompted Vendor Awareness from 2009 to 2012.

Company / Product Information For more than two decades, Murex has been providing trading and risk management solutions to Energy, commodities and capital markets clients. With more than 200 clients and 36 000 users, Murex is one of the major players in this market. Murex employs over 1600 staff in 10 offices and support centers worldwide.

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CTRM Vendor and Product Sourcebook

The MX.3 platform provides an integrated trading, risk management and straight through processing solution for commodity and energy businesses. It covers all commodity categories both physical and financial. At Murex, the trade workflow starts before the transaction is captured. • Order management and distribution: Internal and external communication for automated and negotiated trading allowing for web distribution to customers, intranet distribution to sales forces and traders. • Pre- and post-trade position analysis and compliance: Set of decision tools including what-if analysis with full risk decomposition including hedge equivalents. Market, credit and operational limits pre-deal checks for compliance following the latest regulatory developments. • Front office: Deal capture support with real-time pricing & structuring tools. Strategy builder, archiving, draft deals, pre-deal limit and risk previews. Live trade blotters and fast trade entry from existing positions. Trade capture interfaces from a number of electronic platforms or inhouse systems. • Middle Office: Strong curves construction catering for quality and location spreads. Detailed display output by trade or position including position contribution reports. Scenario based simulations and live risk matrices. Comprehensive set of compliance and control tools. Real time profit and loss calculation and detailed PL variation explanation. A reporting hub allowing live and batch production, integration into corporate reporting tools or direct display and distribution of detailed and consolidated reports.

• Processing and operations: ”best known” volume, inventory management, capacity trades, cross border operations. Exception based validation workflows with document generation and matching. Real-time payment processing, and a multi-entity, multi-currency accounting engine.

The MX3 platform is built on modern service oriented architecture with a generic business layer on top of middleware and workflow layers that allow the exchange of data between components or with external systems through XML web services. The MX3 platform is horizontally and vertically scalable with additional features such as smart grid computing and optimized calculations. The platform is fully multi-entity and can be deployed either in an enterprise or SaaS model. In addition, Murex developed a project delivery methodology named MXpress™ aiming at accelerating time to market and substantially reducing project risk by the use of a pre-configuration approach to static and market data, catalogue of best-practices processes and out-of-the-box functionalities. Main Office 8 rue Bellini 75782 Paris Cedex 16 France +33 1 4405 3200

Other Locations New York, USA Sao Paulo, Brazil Singapore Beijing, China Tokyo, Japan Beirut, Lebanon Dublin, Ireland Seoul, South Korea Paris, France

Website www.murex.com Representative Clients • Alpiq • Statkraft • BP • Scotiabank Licensing Murex S.A.S. offer’s its software on a traditional licensed basis, on a SaaS basis and as a hosted solution.

• Enterprise wide risk: complete set of analytics and validation workflow for VaR, PaR, back- and stress testing monitored through a control cockpit.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

webTrader Enterprise, Version 7.0

Open Access Technology International, Inc. 3660 Technology Drive NE Minneapolis, Minnesota 55418 USA

Markets / Geographies Served

CommodityPoint Research Highlights OATI has been highly ranked in previous CommodityPoint research studies in the power trading category for software solutions. According to results from the April 2012 CTRM Vendor Perception Study, market awareness of the company's products has decreased somewhat from 2009 to 2012.

Company / Product Information OATI has been providing system critical and trade-related solutions to the energy industry for more than sixteen years. OATI is currently one of the leading software providers to the energy industry with more than 1,200 customers across numerous functional areas and throughout North America. OATI continues to provide innovative solutions to the energy industry to meet challenges in energy scheduling, trading, risk management, transmission and congestion management, Smart Grid, and compliance monitoring. OATI webTrader, webRisk, and webSettlementPro comprise the OATI CTRM solution which provides a complete and integrated commodity trading and risk management solution. It offers a single point of entry for data and fully integrated interfaces to support the Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

transaction management process for energy markets, including strategy assessment, e-Tagging, scheduling, OASIS management, deal management, mid-office confirmations, risk analytics, credit analysis, market settlements, hedge effectiveness, and reporting. The CTRM solution provides trading in the bilateral market, RTO/ISO markets, financial markets and EDI connectivity to gas pipelines. The CTRM solution maintains Real-Time positions via reports and displays, as well as back-office settlements for counterparty settlements, RTO/ISO, ICE, and Gas Settlements. OATI solutions have a complete audit trail that captures user entries within the system. OATI webTrader provides reporting capabilities for all aspects of the CTRM solution, including risk, scheduling, accounting, checkouts, and user configurable reports. OATI webTrader is a NAESB-compliant system that manages the operations of gas transportation and trading operations. The solution also supports gas pools and storage, and includes configurable rate matrixes. The solution provides a real-time assessment of physical and financial positions, as well as generation of invoices and remittance letters electronically that can be sent directly to counterparties from the system. webRisk, the OATI Risk Solution is a fully integrated market and credit risk system built on a common platform that approaches risk from an energy perspective. webRisk offers a price mean reverting model with a seasonality function while using actual forward market quotes to build accurate energy based forward price curves. This cutting edge forward curve builder is the key to accurate mark-tomarket functionality that is utilized for market and credit risk reporting. The system will support a wide variety of user defined time buckets, including daily, weekly, monthly, quarterly, and annual time buckets. System users will receive real time limit warnings from the market and credit risk monitoring system which will provide increase response for violations and greater system transparency.

OATI webSettlementPro transforms traditional ISO/RTO settlement capabilities to address the needs of real time settlements and profit and loss information. This system provides multi-version shadow settlements to support the accounting and audit requirements to meet the multiple settlement periods of each of the markets. The system calculates/estimates missing or after the fact market charges and allocates charges to individual transactions, trader and trading book. This functionality provides trading operations with real time P&L and shadow settlement information. This solution is fully integrated with CTRM Solution and supports settlements in all of the North American Markets. Main Office 3660 Technology Drive NE Minneapolis, Minnesota 55418 USA 1-763-201-2000 Other Locations Texas California Representative Clients • American Electric Power • Ameren • Manitoba Hydro • Tucson Electric • WE Energies • DTE Energy Trading Website www.oati.com Licensing OATI offers its software on a traditional licensed basis and on a SaaS basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Endur, Version (Not specfied) OpenLink

1502 RXR Plaza 15th Floor - West Tower Uniondale, New York 11556-1502 USA

Markets / Geographies Served

NOTE 1 : NOTE 2:

OpenLink has declined to disclose industry segment detail for its current installed base. OpenLink has opted to submit its Regional Install Base inclusive for all of its acquired Business Units.

CommodityPoint Research Highlights A review of CommodityPointâ&#x20AC;&#x2122;s 2012 CTRM Vendor Perception Study will quickly show that OpenLink is at, or near the top of almost all categories for Perceived Leadership. Ranked 1st for the categories of energy commodities overall, natural gas and power; 3rd for precious metals, and crude and crude product; and 2nd for agricultural commodities, base metals, freight rates, and shipping. Indeed, the only category it did not place in the top three was coal trading solutions. OpenLink acquired Solarc, another market leader in various categories, in November 2011. Research highlights related to Solarc are in the RightAngle listing in this version of the SourceBook.

Company / Product Information OpenLinkâ&#x20AC;&#x2122;s ETRM/CTRM (Endur) and Agribusiness (dbcSMARTsoft) Solutions are for Commodity and Energy Companies as well as Financial Institutions who are actively involved in cross-commodity/asset trading and need frontCopyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

to-back office support for national and international operations. Trading & Risk Management Trading: Endur offers real-time trade, position and cash flow analyses, and limit monitoring, for all relevant physical and financial assets (including hedging). Over-the-counter (OTC) derivatives coverage, extensive model library and seamless interface to third-party pricing services ensure superior trading decisions. Risk Management: Real-time integrated market, counterparty credit, volumetric and physical risk monitoring and management let organizations assess risk with clarity and manage it more effectively. OpenLink supports modeling of market structures, provides sophisticated pricing models, and allows for calculating volatilities and correlations. Back Office: Automates tasks including collateral management, confirmations, tax calculation, reconciliations, payments/invoices and documentation management. OpenLink can reduce operational risk and costs. Accounting: Integrated enterprise-wide solution enables user-defined posting rules and automatic ledger entry that is reconciled with trading desk and scheduler numbers. Traders, schedulers and risk managers become accountingaware and the analysis and monitoring of hedge effectiveness and the corresponding hedge accounting. Logistics & Scheduling pMotion, for the North American Power Market. Allows users to create and manage physical schedules, book-outs and provides interfacing to eTagging and market connectivity solutions. ESS , for the European Power Market. Provides support for balancing, nomination/notification management and market communication/connectivity for the European markets. gMotion, for the international Gas Market. Supports the different pipeline scheduling and balancing regimes in America and Europe and allows the effective management of all assets including flexible contracts, storage, capacities, etc. cMotion, scheduling and shipment solution for liquid and bulk commodities including Crude Oil, refined products, Coal, LNG, NGLs, etc. Supported modes of transportation include Vessels, Barges, Rail, Truck, Pipelines, and Batch Pipelines.

properties, changing marketing arrangements, managing owner imbalances, and calculating the marketable wellhead volumes to the custody transfer point for sales. Midstream Processing for the Gas Market supports the evaluation of processing options for residue gas and NGLs, managing gas component qualities, handling plant processing agreements, redirecting volumes to alternative processing plants, and managing planned and actual plant volumes. Resource Management See listing for IRM Agribusiness OpenLink’s solution for companies engaged in trading and physical movement and management of agricultural products is dbcSMARTsoft. It provides a complete CTRM system for this customer segment and is integrated with Endur/Findur for risk and advanced trade/position modeling. The solution can be either used fully integrated with Endur (end-to-end agricultural trading, movement and risk management) or as a stand-alone solution for purely agricultural clients. Main Office 1502 RXR Plaza 15th Floor - West Tower Uniondale, New York 11556-1502 USA 1-516-227-6600

London: 44 20 7382 1920 Berlin: 49 30 2233 1150 Vienna: 43 1 811 30-0 Singapore: 65 6593 0800 Sydney: 61 2 9229 8300 Sao Paulo: 55 11 3085 8500 Moscow: 7 (495) 644 0941 Toronto: 1-800-361-2114 Dubai: 971 (0) 4 401 9578

Other Locations New York: 1-212-641-8787 Houston: 1-713-655-9600 Representative Clients • Apache • Austin Energy • Credit Agricole • Centrica • Energy Transfer

• • • • •

Hess Land O’Lakes Shell Statoil Petronas

Website www.olf.com Licensing OpenLink offers its software on a traditional licensed basis, on a SaaS basis and as a hosted solution.

Production and Processing Producer Services allows companies to efficiently manage ownership and volume changes in their producing

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

TRMTracker, (Version not specified) Pioneer Solutions, LLC

6000 Greenwood Plaza Blvd, Suite 115 Greenwood Village, Colorado 80111 USA

Markets / Geographies Served

CommodityPoint Research Highlights Results for Pioneer Solutions in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, shows that Pioneer Solutions has almost quadrupled its Unprompted Vendor Awareness from 2009 to 2012. In the April 2012 Study, Pioneer Solutions ranked 6th in named vendors for Perceived Leadership in SaaS or hosted delivery CTRM software solutions.

Company / Product Information Pioneer Solutions LLC has been providing enterprise-wide, commodity & energy trading and risk management (CETRM) and environmental compliance (EMIS) solutions since 2002. They serve some of the largest utilities and energy trading companies in the US and in Europe with their new, all web-based work-flow-driven, Financial and Regulatory Risk Management System (FARRMS) technology architecture platform. FARRMS is an organically built, with no integration points, advanced technology platform for which all of Pioneerâ&#x20AC;&#x2122;s ETRM & EMIS solutions reside. This advanced template and

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

formula-driven architecture empowers the business user with the ability to manage change, without needing coding expertise, thus lowering the total cost of ownership overtime. FARRMS automates workflow across multiple departments (with dynamic programmable alerts) by streamlining and automating complex processes, resulting in new efficiencies across organizations. Pioneer has several industry specific solutions including Emissions, RECs management and the derivative hedge accounting solution that leverages the FARRMS advanced platform. Pioneer offers a comprehensive, all web-based, energy and commodity trading and risk E/CTRM system called TRMTracker. Built from the back-office forward, TRMTracker features an all commodities, all physicals management platform with a comprehensive back-office designed to handle complex energy contracts, settlement (bi-lateral and Shadow etc.) and billing with its advanced (FARRMS) formula-driven settlement and billing engine. The back-office also features a derivative hedge accounting automation module that is designed to automate many of the cumbersome derivative hedge accounting processes. This organically built, comprehensive C-ETRM solution supports all commodity types both physical and financial; from deal capture to risk management, physical scheduling to settlement and accounting processing. TRMTracker's front-office has recently been modified for an improved user experience including the ability to easily move and rename input variables to one’s preference. The front-office boasts several methods for deal capture including a rapid deal capture blotter, and the ability to clone trades with easy and quick deal entry processing. Also enhanced in 2011 is the reporting engine that features a true all web-based OLAP 3D cube reporting business intelligence reporting framework. Additionally in 2011,

TRMTracker's risk engine features risk models including enterprise risk metrics like CFaR, TPE, PFE, EaR, CVaR and more. Included in the middle office, is a robust credit risk management module that is flexible and comprehensive offering credit scoring, counterparty management, netting and more. Main Office 6000 Greenwood Plaza Blvd, Suite 115 Greenwood Village, Colorado 80111 USA 1-303-758-3780 Other Locations London +44 (0) 20 7887 7870 Netherlands +31 72 0255 0444 Nepal +977 1 467 2708 Representative Clients • Xcel Energy • Laclede Gas • Southern Nevada Water Authority • RWE • Essent Energy • Eneco Energy Website www.PioneerSolutionsGlobal.com Licensing Pioneer Solutions LLC offers its software on a traditional licensed basis, on a SaaS basis and as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

SAS BookRunner, Version 12

SAS and RiskAdvisory (A Division of SAS) Suite 970, Gulf Canada Square 401 9 Avenue SW Calgary, Alberta Canada, T2P 3C5

Markets / Geographies Served

CommodityPoint Research Highlights In CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, SAS RiskAdvisory emerged, for the first time, into the upper echelon of E/CTRM software providers. Indeed, SAS RiskAdvisory doubled its Unprompted Vendor Awareness from 2009 to 2012. SAS RiskAdvisory serves markets in North America and Europe almost equally, and its Brand Recognition in the E/CTRM solutions marketplace is reflected proportionately.

Company / Product Information RiskAdvisory, a division of SAS, provides clients with scalable, centralized risk aggregation, including the ability to perform risk analytics over massive quantities of position data in real time. An approach RiskAdvisory refers to as Enterprise Commodity Risk Aggregation and Analytics (ECRAA). This includes SAS BookRunner which offers commodity capture, analytics, modeling and reporting capabilities delivered in an integrated framework.

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CTRM Vendor and Product Sourcebook

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 1-403-263-7475 Other Locations SAS has over 400 offices in 56 countries. information may be found at: www.sas.com/offices/offices_region.html

Contact

Representative Clients • Manitoba Hydro • Portland General • Dayton Power and Light • Constellation Energy • Xcel Energy Website www.riskadvisory.com Licensing SAS and RiskAdvisory offer its software on a traditional licensed basis, on a SaaS basis and as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

PetroMan, Version 11.4.0 Sisu Group, Inc.

8252 South Harvard Avenue, Suite 157 Tulsa, Oklahoma 74137 USA

Markets / Geographies Served

CommodityPoint Research Highlights Sisu Group, Inc. is a comparatively small specialist technology provider. The company has historically employed limited marketing efforts and has not been well known outside of their core client base. Being a specialized solutions provider, and not often noted outside of those markets, the company has not appeared in responses to CommodityPoint's global CTRM market research.

Company / Product Information Sisu Group, Inc. has been in the ETRM business since 1998. Its client base spans from midrange privately held companies to large publicly held corporations. It specializes in Energy Supply and Trading solutions. Its flagship product PetroMan速 is a fully integrated Enterprise Transaction and Risk Management system for the Energy Industry with a focus on Refined Petroleum and Natural Gas Liquids. The product supports the following functionality:

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

• Capture of Cash Deals • Futures and Option Deals • Confirmation Letter • Position • Profit & Loss • Scheduling • Billing • Treasury • Inventory • Credit Risk • Broker Statement Reconciliation • Rack Marketing (fully automated, tax, etc.) • Extensive Interfaces to Pricing, Backend ERP, etc. • Audit Trail (comprehensive) • Security (comprehensive) The Petroleum Rack Marketing module in PetroMan® automates all aspects of rack marketing through EDI in a completely paperless fashion. Bill of lading transmissions through DTN, TopTech or direct. Rack price calculations and posting, invoicing and EFT notification, ACH drafts are automated thru the industry’s most extensive distribution module. PetroMan® automatically calculates all federal, state and local motor fuel taxes.

Main Office 8252 South Harvard Avenue, Suite 157 Tulsa, Oklahoma 74137 USA 1-918-495-1364 Other Locations None Provided Representative Clients • QuikTrip Corp. • Gavilon • Coffeyville Resources • Noble Group • Petrocom Energy • George E. Warren Website www.sisugrp.com Licensing Sisu Group, Inc. offers PetroMan on a traditional licensed basis and a SaaS basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

SoftSmiths TMS, (Version not specified) SoftSmiths, Inc.

10696 Haddington Drive, Suite 102 Houston, Texas 77043 USA

Markets / Geographies Served

CommodityPoint Research Highlights Softsmiths currently operates solely in North America and its E/CTRM solutions primarily serve the power and natural gas markets. Although not listed in any category in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, SoftSmiths ranked 13th in North America in terms of First To Mind Brand Recognition in CommodityPointâ&#x20AC;&#x2122;s 2009 CTRM Vendor Perception Study.

Company / Product Information Founded in 1997, SoftSmiths offers enterprise-class, subscription-based Software-as-a-Service (SaaS) solutions for energy businesses, combining a lower cost of ownership with an innovative approach to business applications. SoftSmiths delivers energy trading, operations, and settlement solutions designed for today's energy marketing and load serving organizations and the way they conduct their business. Delivered in The Cloud, SoftSmiths offers an alternative to legacy ETRM systems.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

SoftSmiths TMS provides a single platform integrating front to back office and substantial functionality for energy trading, scheduling and accounting. It is composed of a set of components and tools used to build transaction-based applications, especially those that involve time-sequenced data, such as energy trading and scheduling, with multitiered business logic layers including web services, XML data adapters and enterprise application services. SoftSmiths TMS is an integrated, scalable, and adaptable solution that provides ready-to-deploy, out-of-the box functionality that is highly configurable and customizable to meet a company’s unique requirements. SoftSmiths TMS suite provides the following 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

Back Office • Settlement (including ISO/RTO) • Invoicing (including ISO/RTO) • Payment Tracking • Reporting • Contract Management • 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 Drive, Suite 102 Houston, Texas 77043 USA 1-713-626-9184 Other Locations None Provided

ISO/RTO bid/scheduled submission

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

Representative Clients • 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 www.softsmiths.com Licensing SoftSmiths offers its product on a traditional licensed basis, on a SaaS basis or hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

RightAngle, Version S11

Solarc, Inc. (Acquired by OpenLink Nov. 2011) 9701 Richmond Avenue, Suite 250 Houston, Texas 77042 USA

Markets / Geographies Served

CommodityPoint Research Highlights OpenLink acquired Solarc in November 2011. As a former top five provider of CTRM solutions, Solarcâ&#x20AC;&#x2122;s name does carry significant awareness and market equity and it will be interesting to see what the future may hold for this brand. In CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, Solarc ranked 1st in named vendors for Perceived Leadership in E/CTRM solutions for crude and crude products and coal trading, 8th in natural gas trading, 9th in electric power trading, 8th in agricultural trading, 7th in base metals trading, and 2nd for the category of shipping. The April 2012 Study responses showed that Solarc ranked 9th for North American actual Systems in Use, and 6th for actual Systems in Use in Europe.

Company / Product Information SolArc was founded in 1991 launching its RightAngle product in 1994. RightAngle is an integrated software solution for commodity procurement, tracking and risk

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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: 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 • Integrated marketing and scheduling • Accrual accounting and actualization As OpenLink choose not to provide updated information for Solarc products or office locations, please contact the company via the information available under the OpenLink Endur listing in this SourceBook. Representative Clients • Chevron • ConocoPhillips • Constellation Energy • Tyson Foods • Union Pacific Railroad • Southwest Airlines • Virgin Atlantic • Merrill Lynch • JP Morgan • Barclay's Capital Website www.solarc.com

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Aligne, (Version not specified)

SunGard Energy and Commodities 1331 Lamar Street, Suite 950 Houston, Texas 77010 USA

Markets / Geographies Served

CommodityPoint Research Highlights In CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, SunGard ranked in the top five for Overall Market Recognition. nd It ranked 2 in named vendors for solutions in electric power trading, 3rd in base metals and tied for 2nd in freight rates.

Although its customer base is primarily in North America, it ranked 4th in Brand Recognition for both North America and Europe. rd Additionally, it ranked 3 in Perceived Leadership for its software solutionâ&#x20AC;&#x2122;s Overall Architecture.

Company / Product Information SunGard Energy and Commodities is a division of SunGard, a company with a 25+ year history of providing financial software solutions. This division provides a variety of software solutions targeting energy, commodities, and utility markets with two named products: Aligne and Kiodex. SunGard has pursued an acquisition strategy acquiring multiple vendors and, in the process, building one of the

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

largest installed bases among CTRM vendors. It has offered a number of products over the years including ZaiNet and ACES, many of which are still utilized by its clients. Its latest product, Aligne, integrates its predecessor software solutions into one modular, multi-commodity software solution suite that provides a seamless end-to-end software solution for trading, risk/control, credit, fuels procurement, emissions compliance, back-office, and treasury/finance. It utilizes an integration framework to move data between functional components and facilitates integration both within the suite and between the suite and a customer's other software systems. 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: · · · · · · · ·

Supports trading for energy commodities, weather, emissions, heat, freight, metals and derivatives Captures physical and financial instruments for multiple commodities Supports long-term and real-time trading and scheduling Performs straight-through processing from deal capture to scheduling Manages A/R, A/P and all economic aspects of a deal including brokerage/third-party fees Calculates market-to-market positions in real-time across organizations Meets current and foreseeable regulatory requirements, such as those imposed by FAS 133 Aggregates historical and interval market data from multiple sources for analysis

Aligne is offered in various configurations specifically targeting: · · · ·

Energy financial traders Energy physical traders and marketers LDCs, Pipelines and Midstream companies Utilities

The Aligne 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. Main Office 1331 Lamar Street Suite 950 Houston, Texas 77010 USA 1-713-210-8000

Other Locations Dubai: +971 4 391 1180 UK: +44 (0) 208 081 2697 Singapore: +65 6308 8333 Japan: +81 3 4570 3000 Australia: +61 2 8224 0000

Representative Clients • Noble Group • NRG Energy • Iberdrola Renewables • Xcel Energy • Exelon • TransAlta Website www.sungard.com/energy Licensing SunGard Energy and Commodities offers this product on a traditional licensed basis only.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Kiodex, (Version not specified)

SunGard Energy and Commodities 1331 Lamar Street, Suite 950 Houston, Texas 77010 USA

Markets / Geographies Served

Although its customer base is primarily in North America, it ranked 4th in Brand Recognition for both North America and Europe. st

Its Kiodex solution was ranked 1 in named vendors for Perceived Leadership for SaaS or hosted delivery software. rd Additionally, it ranked 3 in Perceived Leadership for its software solutionâ&#x20AC;&#x2122;s Overall Architecture.

Company / Product Information SunGard Energy and Commodities is a division of SunGard, a company with more than 25-years of history of providing financial software solutions. SunGard Energy and Commodities division provides a variety of software solutions targeting energy and broader commodities including the Kiodex Risk Workbench. Copyright 2012 UtiliPoint International, Inc.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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 (KRT) to provide realtime trade capture, mark-to-market and risk management for commodities. The solution captures futures, options and cleared trades instantly from multiple exchanges. It delivers views of mark-to-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. Kiodex Global Market Data (KGMD) is a primary validation tool for commodity portfolios. It offers more than 800 forward curves and volatility surfaces. Kiodex Control (KC) is an industry unique system for managing trading risk, margin, profit and loss, and compliance in real time.

Kiodex Middle Office Outsourcing (KMOO) is a complete post-trade and pre-settlement service designed for operational efficiency, scalability and growth. Kiodex Independent ReValuation (KIRV) is an independent commodity portfolio valuation and risk service. Main Office 1331 Lamar Street Suite 950 Houston, Texas 77010 USA 1-713-210-8000

Other Locations Dubai: +971 4 374 1000 UK: +44(0) 208 081 2697 Singapore: +65 6308 8333 Japan: +81 3 4570 3000 Australia: +61 2 8224 0000

Representative Clients • Bank of America • Clive Capital • FC Stone • Fifth Third Bank • MF Global • Taylor Woods Website www.sungard.com/energy Licensing SunGard Energy and Commodities offers this product on a SaaS basis only.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

TRADEPAQ: TRM, Version 4.1 TRADEPAQ TRM LLC

150 White Plains Road, Suite 301 Tarrytown, New York 10591 USA

Markets / Geographies Served

CommodityPoint Research Highlights In CommodityPoint's 2010 Non-Energy CTRM Vendor Perception Study, TRADEPAQ ranked 7th in named vendors for Perceived Leadership in Unprompted Brand Recognition and 6th in Prompted Brand Recognition. In CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, TRADEPAQ has doubled its Unprompted Vendor Awareness from 2009 to 2012.

Company / Product Information 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, TRADEPAQÂŽ:TRM (Trade and Risk Management) is a Commodity Trade & Risk Management (CTRM) software solution for companies that strive 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 for specific businesses including implementation, change

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

management, custom programming, and 24x7 global support. Their modular design enables implementation of one or all of their CTRM building blocks.

o o o o

Refined (LME) & Precious Metals Ferro Alloys & Minor Metals Semi-Finished Products (Steel, Aluminum) Carbon & Stainless Steel

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.

TRADEPAQ TRM also supports work flow via the TRADEPAQ TRM Workbench Designer. The software is developed on Service Oriented architecture.

Clients ultimately choose TRADEPAQ TRM to better manage the three TRM pillars for success: Control, Growth and Visibility. They uniquely offer a functionally sound set of CTRM capabilities enabling TRADEPAQ TRM to be the only system required to run a complete business.

Main Office 150 White Plains Road, Suite 301 Tarrytown, New York 10591 USA 1-914-332-9174

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. TRADEPAQ TRM focuses on the needs of Traders, Producers, Consumers and Distributors of physical commodities serving clients in many markets including: •

•

Chemicals & Energy o Chemical Producers & Distributors o Plastics

Other Locations Netherlands +31 34 155 6166 India +91 22 6712 6821 Columbia 1-571-635-6760 Representative Clients • Arcelor Stainless USA • Norilsk Nickel • Viterra • United Company Rusal • Coex Coffee • ArcelorMittal • ELG

Agricultural Commodities o Grains, Seeds & Legumes o Coffee, Cocoa o Edible Oils o Sugar, Cotton, Rice o Many others (Dairy, Meat, etc.)

Website www.tradepaqtrm.com

Metals o Raw Materials & Scrap o Smelters & Refineries

Licensing TRADEPAQ TRM offers this product on a traditional licensed basis and on a SaaS solution basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

TransRisk, Version 3.0

TransGraph Consulting Pvt. Ltd.

6-3-655/2/1, AP Civil Supplies Bhavan Lane, Somajiguda Hyderabad, Andhra Pradesh - 500082, India

Markets / Geographies Served

CommodityPoint Research Highlights TransGraph operates solely in Asia and its CTRM solutions serve primarily the Agricultural commodity markets. Given its limited geographic and commodity coverage, the company did not appear in responses in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Stud; however, its products did receive participant responses in both the Prompted" and Unprompted Brand Recognition categories in the 2010 Non-Energy CTRM Vendor Perception Study.

Company / Product Information TransRisk, a web-based market risk management solution, provides manufacturing, processing and trading companies with a customizable commodity and currency risk management solution. It derives net exposures based on the business process and allows users to have a single accurate view of exposures, market-to-market profit and loss, and Value-at-Risk (VaR) across the organization.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

 Calculates risk by VaR based risk engine using various methodologies such as Monte-Carlo, Historical and Parametric  Uses Conditional (EWMA) and Unconditional Volatility and Correlations  Analysis risk by commodity / portfolio / trader / market / instrument / asset types  Simulates risk using stress testing and what-if scenario’s by editing necessary volatilities and correlations  Generates pre-configured risk and compliance reports using OLAP (online analytical processing) tool  Technical analysis is done on TransGraph's data  Custom commodity / risk management policy/region exposure / trader / M2M / P&L limits can be set to get automated alerts  Built on distributed n-tier application using web-based AJAX technology  User and menu level security is provided using .NET advanced security level features, keeping track of complete audit log of all users

Main Office #6-3-655/2/1 AP Civil Supplies Bhaven Lane Somajiguda Hyperabad India, 500082 +91 40 306 8 5000 Other Locations USA 1-630-853-2257 Representative Clients • Asian Agri • Golden Agri • Wilmar • Good Hope • R1 International Website www.transgraph.com Licensing Transgraph offers this product on a traditional licensed basis and on a SaaS solution basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Commodity XL, Version 7.12 Triple Point Technology, Inc.

301 Riverside Avenue Westport, Connecticut 06880 USA

Markets / Geographies Served

CommodityPoint Research Highlights Triple Point ranked at or near the top for Perceived Leadership of almost all commodity categories in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study and ranked 2nd in Unprompted Vendor Recognition. The April 2012 Study showed that its Brand Recognition is ranked 3rd in named vendors for North America and 2nd in Europe. Ranked 1st in named vendors for Perceived Leadership in the categories of agricultural commodities, freight rates, and shipping; 2nd for energy commodities overall, natural gas trading, and crude and crude products; and 3rd for electric power trading, coal trading, and precious metals; and 4th in overall architecture.

Company / Product Information Triple Point Technology is a provider of software to manage commodities and enterprise risk. The company provides solutions to address the complex commodities value chain: mining, buying, selling, trading, and procurement; enterprise

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

risk management; scheduling and logistics; storage; processing; and settlement and accounting. Triple Point’s Commodity Management platform enables over 300 customers in over 35 countries to profitably manage exposure to energy and raw materials across industries, including energy, metals, minerals, agriculture, transportation, shipping, consumer products (CP), discrete manufacturers, and big box retailers. Founded in 1993, the company employs over 800 staff in 14 offices and support centers around the globe. Commodity trading, sourcing, and risk management Commodity XL™ integrates physical and financial markets on a real-time platform for commodities including power, oil, gas, coal, emissions, metals, agricultural products, biofuels and freight. Commodity XL meets all requirements for supply, trading, marketing, procurement, logistics, scheduling, risk management, and accounting in today’s complex markets. Notably, in August 2012 Triple Point announced several Mobile Commodity Management applications for the iPhone and iPad. These are: Mobile Commodity Trader; Mobile Voyage Estimator; Mobile Inventory Navigator; Mobile Management Dashboard; and Mobile System Console. Treasury and regulatory compliance Triple Point’s treasury solution ensures compliance with hedge accounting and fair value disclosure standards ASC 815 (FAS 133), IAS 39 (IFRS 9), CICA 3865, AASB 139, SAS 133, ASC 81510 (FAS 161), ASC 820 (FAS 157) and IFRS 7. Counterparty credit risk management Triple Point’s credit risk system manages the "Five C’s" of credit risk (counterparty management; collateral optimization; contract management; concentrations; and credit analytics) within a single, transparent platform. The system provides real-time visibility into credit exposure and captures a 360 degree view of counterparty relationships. Chartering and vessel operations Triple Point provides software to manage commercial vessel operations, including all chartering, post-fixture activities and freight risk management. Confirmation management Commodity XL has extended straight-through processing to include electronic confirmation matching for both EFET eCM and ICE eConfirm standards.

Mining supply chain Triple Point's mining supply chain solutions manage the tonnage, quality, and value of coal and mineral supply chains from "pit" to the point of export, import, or consumption. They optimize all aspects of the mining supply chain including mine planning and scheduling, material tracking, logistical movements, 3D stockpile modeling, grade control, and blend management for coal and other minerals. Main Office 301 Riverside Avenue Westport, Connecticut 06880 USA 1-203-291-7979

Other Locations Cape Town, South Africa Johannesburg, South Africa Parsippany, NJ USA Houston, TX USA Geneva, Switzerland São Paulo, Brazil Singapore Belo Horizonte, Brazil Chennai, India Pune, India London, England Newcastle, Australia Vienna, Austria Quebec City, Canada

+27 21 883 8060 +27 (0)11 021 3883 1-973-244-1661 1-713-334-9339 +41 (0)21 825 5656 +55 11 3568 2422 +65 6238 6221 +55 31 2519 8644 +91 44 43 40 2900 +91 20 30 20 6000 +44 (0)20 7065 7650 +61 (0)2 4908 2222 +43 18 9030 4090 1-418-687-6385

Representative Clients

• • • • • •

China National Offshore Oil Company Perobras Koch Supply & Trading Marubeni Saras Oil Louis Dreyfus Highbridge Energy

Website www.tpt.com

Licensing TriplePoint offers this product on a traditional licensed basis, on a SaaS basis, as a hosted solution, or Cloud based.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Monaco, (Version not specified) Ventyx

400 Perimeter Center Terrace, Suite 500 Atlanta, Georgia 30346 USA

Markets / Geographies Served

CommodityPoint Research Highlights Ventyx ranked 6th in named vendors for Perceived Leadership for Unprompted Vendor Recognition in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study. Placing just outside the top five providers of CTRM software, Ventyx received numerous mentions as being a most recognized vendor for Overall Market Awareness. Primarily focusing their marketing efforts in North th America, Ventyx ranked 8 in named vendors for Perceived Leadership for electric power trading in the April 2012 Study. Although it has seen significant decrease in Vendor Awareness from 2009 to 2012, Ventyx remains recognized as a top provider of software solutions for CTRM.

Company / Product Information Ventyx, an ABB company, delivers asset management, mobile workforce management, energy portfolio management, and customer care solutions to energy, utility and communications firms around the world, as well as to asset-intensive customers in select commercial markets.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Ventyx's Monaco Trading and Risk Management software 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.

Monaco allows users to import or enter all data assumptions necessary to accurately model a portfolio: forward and spot curves (commodities prices, weather, interest rates, basis, FX rates, etc.), volatilities, and correlations. Correlations and volatilities can also be calculated by the system using historical information.

Monaco supports the needs of asset-backed and trading companies by providing an integrated front-, middle-, and back-office solution that captures physical, financial, and asset transactions across all energy commodities. In addition, it offers:

Ventyx is owned by ABB, a global provider of power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impacts.

• • • • • • • •

True straight-through processing Supports standard and non-standard deal types Advanced architecture for scalability Operations and Scheduling functionality Credit and trading limits monitoring Risk analytics including Value at Risk, Earnings at Risk, and Profit at Risk Role-based security model Full Audit trail of transactions

Monaco`s reporting capabilities include a flexible Deal Capture module which captures even the most complex transactions. Physical Fixed, Index, Monthly Options, Daily Options, Hourly Options, Transmission/ Transportation, Exchanges, Futures, Swaps, OTC Option, and Swaptions are just some of the transactions that can be captured. The Profile Transactions even allow integration with load and generation forecasting tools for true consolidated position reporting.

Main Office 400 Perimeter Center Terrace, Suite 500 Atlanta, Georgia 30346 USA 1-770-952-8444

Other Locations UK +44 1483 722777 France +33 13930 1717 Japan +81 3 5275 2634 South Africa +27 12 665 3600

Representative Clients • NV Energy • TradeMark Energy • Enercity • United Energy Trading Website www.ventyx.com Licensing Ventyx offers its product on a traditional licensed basis or as a hosted solution.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

Phoenix ETRM, (Version not specified) Woodlands Solutions, LLC 594 Sawdust Road, Suite 174 Woodlands, Texas 77380 USA

Markets / Geographies Served

CommodityPoint Research Highlights As may be seen in CommodityPointâ&#x20AC;&#x2122;s April 2012 CTRM Vendor Perception Study, Woodlands Solutions dramatically increased its Unprompted Vendor Awareness from 2009 to 2012. Woodlands is emerging, for the first time, into the upper echelon of CTRM solution providers. In North America, Woodlands users responded at a higher rate, relative to the number of installs, than any other vendorâ&#x20AC;&#x2122;s users. Operating only in North America at this time, Woodlands ranked 9th in named vendors for Perceived Leadership for natural gas trading solutions in the April 2012 Study. It also ranked 8th Brand Recognition in North America.

Company / Product Information Woodlands Solutions is a relatively new entrant into the C/ETRM market place. The company was founded in 2008 by Michael Muse and Steve Wall, two ETRM industry insiders with over thirty five years of experience designing, building, managing, and implementing energy trading and risk management solutions. Notably, that experience

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

includes the founding of a successful ETRM software company in 2000. According to Muse, the founders consistently heard from energy organizations about the lack of capable ETRM solutions which were also affordable. So, in the midst of the financial crisis, the long-time coworkers quit their jobs and founded Woodlands Solutions with a mission of providing “energy organizations with a cost-effective, highquality, feature-rich energy trading and risk management solution along with superior customer service.” In short, says Muse, their mission is to provide much of the functionality of the better known solutions but at a much lower price. Woodlands released version 5 of their Phoenix ETRM solution in December of 2011. The company describes Phoenix as “a full-featured, front-to-back office energy trading and risk management solution used by energy companies to cost-effectively manage their trading and marketing operations”. Phoenix ETRM supports many aspects of a trading/marketing organization, including: contract administration, deal capture, confirmation management, market data management, valuation (closed form and Monte Carlo), position management, risk analysis, scheduling, credit management, settlement, standard and ad hoc reporting, and more. And, according to Muse, they leveraged their prior experience to ensure the product could support the range of energy commodities and markets (e.g. multi-commodity, multiunit of measure, multi-currency, etc.). Despite attractive pricing, Phoenix ETRM includes many features expected of top tier C/ETRM solutions, including: straight-through real-time processing, integrated reporting

tools, user personalization, and more. Moreover, Phoenix is unique in that it utilizes a data warehouse architecture, with the front, mid, and back office groups all accessing and updating a single data store (called the Phoenix Core). This approach, coupled with the real time distributed processing engine, provides users with up to the minute information as other users perform updates. It also provides position reporting functionality. The system makes use of pivot tables to provide powerful and flexible reporting functionality as well as extensive use of graphs. The solution is also quite functionally rich on the risk management side, including features such as VaR, EaR and stress testing. Main Office 594 Sawdust Road, Suite 174 Woodlands, Texas 77380 USA Other Locations None Provided Representative Clients • National Fuel Marketing • RenRe Energy Advisors • Eagle Rock Energy Website www.woodlandssolutions.com Licensing Phoenix ETRM is offered on a traditional licensed and a hosted basis.

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

References & Other Useful Resources References

CommodityPoint – E/CTRM Vendor Perception Study Report, May 2009 CommodityPoint – Non-Energy CTRM Vendor Perception Study, Dec. 2010 CommodityPoint – CTRM Vendor Perception Study Report, April 2012 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 – www.trmdirectory.com The CommodityPoint website – www.commodity-point.com The CTRM Blog – www.ctrmblog.com CommodityAlert Archives – CommodityAlert is our weekly free newsletter. You can find the archive for back issues at http://utilipoint.com/IssueAlert/IssueAlert_archive.asp and subscribe at http://utilipoint.com/IssueAlert/subscribe.asp?ListID=30

CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

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 brings 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 analysts bring decades 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 Mark Tredway, Director of Business Development International Business Center Prikop 4 602 00 Brno Czech Republic Tel: +44 (0) 203 588 0088 mtredway@commodity-point.com Patrick Reames - Managing Director 19901 Southwest Freeway, Suite 121 Sugar Land, Texas 77479 Tel: +1 281-207-5440 preames@utilipoint.com James Sanders â&#x20AC;&#x201C; CTRM Market Analyst 19901 Southwest Freeway, Suite 121 Sugar Land, Texas 77479 Tel: +1 281-207-5443 jsanders@utilipoint.com

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CommodityPoint, a division of UtiliPoint International Inc.

CTRM Vendor and Product Sourcebook

About UtiliPoint速 International, Inc. For more than 75 years, UtiliPoint International速, 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 www.utilipoint.com.

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