In a digital world, data is King, and while energy and commodities have been going through a period of digitalizing for the last several years, there can be no doubt that coming up with data management strategies has also played an important, if not critical, role in those strategies as well. Indeed, this was strongly emphasized in Commodity Technology Advisory’s disruptive technologies research over the last few years, where more than half of all of those questioned in the industry.
CTRM - The Next Generation - ComTechAdvisory Vendor Technical UpdateCTRM Center
There is no doubt that technology has undergone a sea-change over the last decade or so potentially making it possible to build and deploy software faster and more cost-effectively while offering a host of features that help users to work smarter, faster and with less opportunity for error. Additionally, the way that applications are designed and built has also changed to take better advantage of these technologies. While arguably there is no single technology that facilitates a paradigm shift in Commodity Trading and Risk Management (CTRM) software, when you combine advances in all areas of solution development and deployment technology, then such a leap forward is both likely and desirable.
Nowhere is the gap between the possibilities offered by these leaps in technology and what is available as commercial solutions more apparent than in the commodity trading and risk management software category. There are many aging, legacy, solutions still being utilized, marketed, and deployed and yet, this is an industry that is experiencing unprecedented demands and change, which in turn, are placing increasing demands on the software it utilizes. What most commodity firms are seeking is more agile software platforms that can allow them to adapt and evolve through these changes. This growing demand is also accentuated by the younger, more tech-savvy people entering the business whose expectations are not being met by many existing solutions.
Achieving Digitalization in a Document Intensive Energy MarketCTRM Center
As energy companies seek to become more efficient and agile in a rapidly changing marketplace fraught with risks, digitalization - the process of evolving from manual or analog processes to more efficient and cost effective digital processes by reducing the number of times data is touched and ensuring greater accuracy and more rapid movement of data and information throughout the enterprise – continues to attract attention from CIOs across the energy value chain.
Leveraging the cloud for improved performanceCTRM Center
While delivery of applications and services in the cloud has been a part and parcel of business for over a decade, adoption of cloud-delivered CTRM applications (not to be confused with hosted solutions), has taken time to develop. However, the collapse in commodity prices and profitability over the last several years has incentivized firms in the commodities space to rethink their approach to acquiring and managing IT solutions.
With increasing market experience with these products, market activity over the last few years indicates that adoption of cloud CTRM solutions is increasing rapidly as the lower cost of entry, benefits of a pay as you go approach, and realization that the cloud can actually be more secure than on-premises, have all aided its growth.
“Big data” is a term used to represent large, complex sets of data. This data is vast because in today’s world, data is generated in real time by many sources, including people, vehicles, and devices at all points on the supply and demand chain. The list of data points and sources is ever-growing and can include hundreds if not thousands of sources.
Activating Big Data: The Key To Success with Machine Learning Advanced Analyt...Vasu S
A whitepaper of Qubole that How to make all of your data available to users for a multitude of use cases, ranging from analytics to machine learning and artificial intelligence.
https://www.qubole.com/resources/white-papers/activating-big-data-the-key-to-success-with-machine-learning-advanced-analytics
CTRM - The Next Generation - ComTechAdvisory Vendor Technical UpdateCTRM Center
There is no doubt that technology has undergone a sea-change over the last decade or so potentially making it possible to build and deploy software faster and more cost-effectively while offering a host of features that help users to work smarter, faster and with less opportunity for error. Additionally, the way that applications are designed and built has also changed to take better advantage of these technologies. While arguably there is no single technology that facilitates a paradigm shift in Commodity Trading and Risk Management (CTRM) software, when you combine advances in all areas of solution development and deployment technology, then such a leap forward is both likely and desirable.
Nowhere is the gap between the possibilities offered by these leaps in technology and what is available as commercial solutions more apparent than in the commodity trading and risk management software category. There are many aging, legacy, solutions still being utilized, marketed, and deployed and yet, this is an industry that is experiencing unprecedented demands and change, which in turn, are placing increasing demands on the software it utilizes. What most commodity firms are seeking is more agile software platforms that can allow them to adapt and evolve through these changes. This growing demand is also accentuated by the younger, more tech-savvy people entering the business whose expectations are not being met by many existing solutions.
Achieving Digitalization in a Document Intensive Energy MarketCTRM Center
As energy companies seek to become more efficient and agile in a rapidly changing marketplace fraught with risks, digitalization - the process of evolving from manual or analog processes to more efficient and cost effective digital processes by reducing the number of times data is touched and ensuring greater accuracy and more rapid movement of data and information throughout the enterprise – continues to attract attention from CIOs across the energy value chain.
Leveraging the cloud for improved performanceCTRM Center
While delivery of applications and services in the cloud has been a part and parcel of business for over a decade, adoption of cloud-delivered CTRM applications (not to be confused with hosted solutions), has taken time to develop. However, the collapse in commodity prices and profitability over the last several years has incentivized firms in the commodities space to rethink their approach to acquiring and managing IT solutions.
With increasing market experience with these products, market activity over the last few years indicates that adoption of cloud CTRM solutions is increasing rapidly as the lower cost of entry, benefits of a pay as you go approach, and realization that the cloud can actually be more secure than on-premises, have all aided its growth.
“Big data” is a term used to represent large, complex sets of data. This data is vast because in today’s world, data is generated in real time by many sources, including people, vehicles, and devices at all points on the supply and demand chain. The list of data points and sources is ever-growing and can include hundreds if not thousands of sources.
Activating Big Data: The Key To Success with Machine Learning Advanced Analyt...Vasu S
A whitepaper of Qubole that How to make all of your data available to users for a multitude of use cases, ranging from analytics to machine learning and artificial intelligence.
https://www.qubole.com/resources/white-papers/activating-big-data-the-key-to-success-with-machine-learning-advanced-analytics
It is an analytic solution for an oil and gas industry. This will provide the business intelligence solution for the industry business for management and deep insights.
Who changed my data? Need for data governance and provenance in a streaming w...DataWorks Summit
Enterprises have dealt with data governance over the years, but it has been mostly around master data. With the advent of IoT/web/app streams everywhere in the ecosystem surrounding an enterprise, data-in-motion has become a strong force to reckon. Data-in-motion passes through several levels of transformations and augmentation before it becomes data-at-rest. Through this, it is pertinent to preserve the sanctity of such data or at least track the provenance through the various changes. This is very important for a lot of verticals where there are strong regulatory and compliance laws that exist around "who changed what."
This session will go into detail around some specific use cases of how data gets changed, how it can be tracked seamlessly and why this is important for certain verticals. This will be presented in two parts. The first part will cover the industry angle to this and its importance weighed in by several regulatory bodies. The second part will address the technology aspect of it and discuss how companies can leverage Apache Atlas and Ranger in conjunction with NiFi and Kafka to embrace data governance and provenance of their data streams.
Speakers
Dinesh Chandrasekhar, Director, Hortonworks
Paige Bartley, Senior Analyst - Data and Enterprise Intelligence, Ovum
Taking full advantage of data-driven efficiency makes your operations more precise, predictable and efficient.
Take control of your resources and inventory. Let big data work for you.
Strategies to Monetize Energy Data - How Utilities Can Increase Their 'Earnin...Indigo Advisory Group
In this piece we highlight the utility data monetization imperative and how utilities can build the right strategies to take advantage of this opportunity
Energy Trading and Risk Management (ETRM) solutions have now been a part of the broader wholesale energy trading application landscape for around 20-years, having evolved in step with both business and technology trends over that time period. As a result of this evolutionary process, there are a large number of diverse solutions on the market that address any number of combinations of industrial segments, energy commodities, geographic locations, and functional reach.
As we enter the digital economy, it becomes increasingly transparent that the information and data ecosphere will continue to be a complex environment for the foreseeable future, with information being provided from a variety of internal and external sources in the form of files, messages, queries and streams. It would be foolish for any organization to place their bets on any one platform to be their platform of choice because it is incongruent to the thought patterns of the consumers, suppliers, regulators, partners and financiers who will participate in their information ecosphere through data feeds, information requests and a host of other interfaces.
Rather, there is a role of each of these platforms which serve as the conduit for data and the transformation of data into information aligned with the value propositions of the organization. This writing is focused on the big data platform because there are some unique characteristics of the big data environment that require an approach different than many of the legacy environments that exist in organizations. Furthermore, while big data is the one environment that is new and requires these special handling characteristics, there will be future platforms with the same requirements as big data requires today, and hopefully lessons learned will be left to not revisit each of the challenges as the next transformational information ecosphere is made available.
Figure 1 The Fourth Industrial Revolution, World Economic Forum, InfoSight Partners, 2016
This time is different, in that information is the catalyst to achieving value and the platform ideally suited to house information not optimal for storage in the form of rows and columns is the big data environment. Understanding which information is delivered with intended consequences and having the management prowess to tune information shared with customers, prospects, suppliers, partners, regulators and financiers is critical for the digital economy. Additionally, it is specific to understand the challenges each platform housing information bring to the equation. This writing will focus on big data.
Webinar #2 - Transforming Challenges into Opportunities for Credit UnionsDenodo
Watch full webinar here: https://buff.ly/3vhzqL5
Join our exclusive webinar series designed to empower credit unions with transformative insights into the untapped potential of data. Explore how data can be a strategic asset, enabling credit unions to overcome challenges and foster substantial growth.
This webinar will delve into how data can serve as a catalyst for addressing key challenges faced by credit unions, propelling them towards a future of enhanced efficiency and growth.
Using Ontology to Capture Supply Chain Code HalosCognizant
Manufacturers need to create a lingua franca that extends throughout the supply chain ecosystem, in order to generate insights from the digital data encircling their employees, partners, processes and customers.
Application of Big Data Systems to Airline ManagementIJLT EMAS
The business world is in the midst of the next
revolution following the IT revolution – the Big Data revolution.
The sheer volume of data produced is a major reason for the big
data revolution. Aviation and aerospace are typical areas that
can apply big data systems due to the scale of data produced, not
only by the plane sensors and passengers, but also by the
prospective passengers. Data that need to be considered include,
but are not limited to, aircraft sensor data, passenger data,
weather data, aircraft maintenance data and air traffic data.
This paper aims at identifying areas in aviation where big data
systems can be utilized to enhance operational performances
improve customer relations and thereby aiding the ultimate goal
of increased profits at reduced costs. An improved management
model built on a strong big data infrastructure will reduce
operation costs, improve safety, bring down the cost and time
spent on maintenance and drastically improve customer
relations.
Rebooting IT Infrastructure for the Digital AgeCapgemini
The Digital Transformation Institute has launched its latest research report titled “Faster, Better, Smarter: Rebooting IT Infrastructure for the Digital Age.” The report highlights why organizations need robust and seamless IT infrastructure that keeps pace with evolving market and technology demands. IT infrastructure has always been known as a “keeping the lights on” function but now it has evolved into a core catalyst of Digital Transformation. However, as a function, IT infrastructure is yet to undergo a core transformation. The report discusses why a reboot is critical.
Learn about Addressing Storage Challenges to Support Business Analytics and Big Data Workloads and how Storage teams, IT executives, and business users will benefit by recognizing that deploying appropriate storage infrastructure to support a wide range of business analytics workloads will require constant evaluation and willingness to adjust the infrastructure as needed. For more information on IBM Storage Systems, visit http://ibm.co/LIg7gk.
Visit the official Scribd Channel of IBM India Smarter Computing at http://bit.ly/VwO86R to get access to more documents.
In the world of E/CTRM software much is changing and at a fair pace. Driven by a plethora of new business needs, massive shifts in technology, and changes in software procurement behavior, it is a software category that is ripe for a true paradigm shift. In a paper written a few years ago, Commodity Technology Advisory (ComTech) outlined a potential solution to some of the issues that have plagued buyers of E/CTRM software for decades.
In that paper, the authors proposed a different approach to architecting E/CTRM solutions – that is creating an ecosystem of software capabilities rather than relying on the monolithic applications that have, or invariably will, become increasingly expensive and difficult to deploy, update and maintain.
ComTech noted that such an approach was both technically feasible given the advent of cloud technologies and desirable as it helped solve the myriad of business issues buyers face today. Since then, business trends have continued to evolve in directions around data management, digitalization and automation, and collaboration. More recently, lockdowns and the need for business continuity have only served to push the envelope faster and further.
In the insurance industry, the advantage of custom-built marts and warehouses ensures that the structure and queries match the data, but the customization makes it very difficult and expensive to maintain. On the other hand, off-the-shelf marts and warehouses maintained by the third party and are general and less useful than the custom ones. In either case, they can easily grow beyond anything manageable. This whitepaper focuses on providing an overview of data warehousing in the insurance industry.
Bridging Data Gaps with a Solid Data Foundation - A Key Imperative for Today’...Denodo
Watch full webinar here: https://bit.ly/3CjoaxS
In this session, the panel will discuss the importance of laying out a solid data foundation for everything digital for any financial institution. The panelists from UFCU and DevFacto will share their journey and agile approach toward data management in a hybrid data environment.
From this session, you will learn how UFCU gained unprecedented agility in data management and built the foundation for a “member 360” view. Devfacto worked with UFCU to design and set up multiple service streams. To streamline cloud adoption, and seamlessly unify cloud and on-premise data sources. Denodo’s Logical Data Platform enabled UFCU with reusable Lego-like building blocks to create different data views for business teams.
Managing Supply Chain Complexity and ExposuresCTRM Center
The supply chains for bulk commodities, including agricultural, metals/ores and some energies, are complex – usually necessitating transportation and storage using trucks, trains, ships, barges, pipelines, and terminals/storage facilities. These movements, and the assets utilized to make them, introduce and accumulate both cost and risk to the commodities owners with each step in the chain.
Additionally, as these commodities transit the supply chain, they may undergo changes that will impact their value, both as traded commodities and as a stock or inventory. These events can include transformations to finished products (such as refining crude oil into numerous petroleum products or grains milled into flour) and repackaging from bulk loads into smaller containers such as bags for wholesale or retail sales.
Global Sugar - A Complex Market that Requires a Fit for Purpose CTRM SolutionCTRM Center
Sugar is a global commodity, with almost 180 million metric tons being produced in more than 120 countries each year. Though much of the sugar produced by these countries is consumed locally in food products or, increasingly, for ethanol production, the largest producing countries are often exporters as well and in total contribute 60-70 million metric tons delivered into the global market each year.
More Related Content
Similar to Putting Data at the Heart of Energy Trading
It is an analytic solution for an oil and gas industry. This will provide the business intelligence solution for the industry business for management and deep insights.
Who changed my data? Need for data governance and provenance in a streaming w...DataWorks Summit
Enterprises have dealt with data governance over the years, but it has been mostly around master data. With the advent of IoT/web/app streams everywhere in the ecosystem surrounding an enterprise, data-in-motion has become a strong force to reckon. Data-in-motion passes through several levels of transformations and augmentation before it becomes data-at-rest. Through this, it is pertinent to preserve the sanctity of such data or at least track the provenance through the various changes. This is very important for a lot of verticals where there are strong regulatory and compliance laws that exist around "who changed what."
This session will go into detail around some specific use cases of how data gets changed, how it can be tracked seamlessly and why this is important for certain verticals. This will be presented in two parts. The first part will cover the industry angle to this and its importance weighed in by several regulatory bodies. The second part will address the technology aspect of it and discuss how companies can leverage Apache Atlas and Ranger in conjunction with NiFi and Kafka to embrace data governance and provenance of their data streams.
Speakers
Dinesh Chandrasekhar, Director, Hortonworks
Paige Bartley, Senior Analyst - Data and Enterprise Intelligence, Ovum
Taking full advantage of data-driven efficiency makes your operations more precise, predictable and efficient.
Take control of your resources and inventory. Let big data work for you.
Strategies to Monetize Energy Data - How Utilities Can Increase Their 'Earnin...Indigo Advisory Group
In this piece we highlight the utility data monetization imperative and how utilities can build the right strategies to take advantage of this opportunity
Energy Trading and Risk Management (ETRM) solutions have now been a part of the broader wholesale energy trading application landscape for around 20-years, having evolved in step with both business and technology trends over that time period. As a result of this evolutionary process, there are a large number of diverse solutions on the market that address any number of combinations of industrial segments, energy commodities, geographic locations, and functional reach.
As we enter the digital economy, it becomes increasingly transparent that the information and data ecosphere will continue to be a complex environment for the foreseeable future, with information being provided from a variety of internal and external sources in the form of files, messages, queries and streams. It would be foolish for any organization to place their bets on any one platform to be their platform of choice because it is incongruent to the thought patterns of the consumers, suppliers, regulators, partners and financiers who will participate in their information ecosphere through data feeds, information requests and a host of other interfaces.
Rather, there is a role of each of these platforms which serve as the conduit for data and the transformation of data into information aligned with the value propositions of the organization. This writing is focused on the big data platform because there are some unique characteristics of the big data environment that require an approach different than many of the legacy environments that exist in organizations. Furthermore, while big data is the one environment that is new and requires these special handling characteristics, there will be future platforms with the same requirements as big data requires today, and hopefully lessons learned will be left to not revisit each of the challenges as the next transformational information ecosphere is made available.
Figure 1 The Fourth Industrial Revolution, World Economic Forum, InfoSight Partners, 2016
This time is different, in that information is the catalyst to achieving value and the platform ideally suited to house information not optimal for storage in the form of rows and columns is the big data environment. Understanding which information is delivered with intended consequences and having the management prowess to tune information shared with customers, prospects, suppliers, partners, regulators and financiers is critical for the digital economy. Additionally, it is specific to understand the challenges each platform housing information bring to the equation. This writing will focus on big data.
Webinar #2 - Transforming Challenges into Opportunities for Credit UnionsDenodo
Watch full webinar here: https://buff.ly/3vhzqL5
Join our exclusive webinar series designed to empower credit unions with transformative insights into the untapped potential of data. Explore how data can be a strategic asset, enabling credit unions to overcome challenges and foster substantial growth.
This webinar will delve into how data can serve as a catalyst for addressing key challenges faced by credit unions, propelling them towards a future of enhanced efficiency and growth.
Using Ontology to Capture Supply Chain Code HalosCognizant
Manufacturers need to create a lingua franca that extends throughout the supply chain ecosystem, in order to generate insights from the digital data encircling their employees, partners, processes and customers.
Application of Big Data Systems to Airline ManagementIJLT EMAS
The business world is in the midst of the next
revolution following the IT revolution – the Big Data revolution.
The sheer volume of data produced is a major reason for the big
data revolution. Aviation and aerospace are typical areas that
can apply big data systems due to the scale of data produced, not
only by the plane sensors and passengers, but also by the
prospective passengers. Data that need to be considered include,
but are not limited to, aircraft sensor data, passenger data,
weather data, aircraft maintenance data and air traffic data.
This paper aims at identifying areas in aviation where big data
systems can be utilized to enhance operational performances
improve customer relations and thereby aiding the ultimate goal
of increased profits at reduced costs. An improved management
model built on a strong big data infrastructure will reduce
operation costs, improve safety, bring down the cost and time
spent on maintenance and drastically improve customer
relations.
Rebooting IT Infrastructure for the Digital AgeCapgemini
The Digital Transformation Institute has launched its latest research report titled “Faster, Better, Smarter: Rebooting IT Infrastructure for the Digital Age.” The report highlights why organizations need robust and seamless IT infrastructure that keeps pace with evolving market and technology demands. IT infrastructure has always been known as a “keeping the lights on” function but now it has evolved into a core catalyst of Digital Transformation. However, as a function, IT infrastructure is yet to undergo a core transformation. The report discusses why a reboot is critical.
Learn about Addressing Storage Challenges to Support Business Analytics and Big Data Workloads and how Storage teams, IT executives, and business users will benefit by recognizing that deploying appropriate storage infrastructure to support a wide range of business analytics workloads will require constant evaluation and willingness to adjust the infrastructure as needed. For more information on IBM Storage Systems, visit http://ibm.co/LIg7gk.
Visit the official Scribd Channel of IBM India Smarter Computing at http://bit.ly/VwO86R to get access to more documents.
In the world of E/CTRM software much is changing and at a fair pace. Driven by a plethora of new business needs, massive shifts in technology, and changes in software procurement behavior, it is a software category that is ripe for a true paradigm shift. In a paper written a few years ago, Commodity Technology Advisory (ComTech) outlined a potential solution to some of the issues that have plagued buyers of E/CTRM software for decades.
In that paper, the authors proposed a different approach to architecting E/CTRM solutions – that is creating an ecosystem of software capabilities rather than relying on the monolithic applications that have, or invariably will, become increasingly expensive and difficult to deploy, update and maintain.
ComTech noted that such an approach was both technically feasible given the advent of cloud technologies and desirable as it helped solve the myriad of business issues buyers face today. Since then, business trends have continued to evolve in directions around data management, digitalization and automation, and collaboration. More recently, lockdowns and the need for business continuity have only served to push the envelope faster and further.
In the insurance industry, the advantage of custom-built marts and warehouses ensures that the structure and queries match the data, but the customization makes it very difficult and expensive to maintain. On the other hand, off-the-shelf marts and warehouses maintained by the third party and are general and less useful than the custom ones. In either case, they can easily grow beyond anything manageable. This whitepaper focuses on providing an overview of data warehousing in the insurance industry.
Bridging Data Gaps with a Solid Data Foundation - A Key Imperative for Today’...Denodo
Watch full webinar here: https://bit.ly/3CjoaxS
In this session, the panel will discuss the importance of laying out a solid data foundation for everything digital for any financial institution. The panelists from UFCU and DevFacto will share their journey and agile approach toward data management in a hybrid data environment.
From this session, you will learn how UFCU gained unprecedented agility in data management and built the foundation for a “member 360” view. Devfacto worked with UFCU to design and set up multiple service streams. To streamline cloud adoption, and seamlessly unify cloud and on-premise data sources. Denodo’s Logical Data Platform enabled UFCU with reusable Lego-like building blocks to create different data views for business teams.
Similar to Putting Data at the Heart of Energy Trading (20)
Managing Supply Chain Complexity and ExposuresCTRM Center
The supply chains for bulk commodities, including agricultural, metals/ores and some energies, are complex – usually necessitating transportation and storage using trucks, trains, ships, barges, pipelines, and terminals/storage facilities. These movements, and the assets utilized to make them, introduce and accumulate both cost and risk to the commodities owners with each step in the chain.
Additionally, as these commodities transit the supply chain, they may undergo changes that will impact their value, both as traded commodities and as a stock or inventory. These events can include transformations to finished products (such as refining crude oil into numerous petroleum products or grains milled into flour) and repackaging from bulk loads into smaller containers such as bags for wholesale or retail sales.
Global Sugar - A Complex Market that Requires a Fit for Purpose CTRM SolutionCTRM Center
Sugar is a global commodity, with almost 180 million metric tons being produced in more than 120 countries each year. Though much of the sugar produced by these countries is consumed locally in food products or, increasingly, for ethanol production, the largest producing countries are often exporters as well and in total contribute 60-70 million metric tons delivered into the global market each year.
US Dairy Markets – Digitalizing to address complexity and volatilityCTRM Center
US dairy markets are one of, if not the most, unique and complex commodity markets. Dairy production has unique physical characteristics not found in any other agricultural commodities, including continuous production, rapidly spoiling milk inventories, and multiple derivative products with a varying ability to store over time (i.e., fresh milk vs. cheese products).
Diversifying Into Renewable Energy: Challenges And OpportunitiesCTRM Center
The energy transition is the move away from fossil fuels towards renewable and sustainable forms of production and generation, in combination with increasing decarbonization (net zero) and electrification. The motivations behind the energy transition are primarily political, environmental, and increasingly, financial. Mostly, it is driven by Governments and international bodies (like the EU, which also sees renewables to increase its’ energy independence) through goal setting, provision of incentives, and legislation such as the US’s Inflation Reduction Act.
The push for decarbonization and ESG is also now being championed by large banks and financial institutions like Barclays Bank, who recently announced that it had tightened its financing rules and abandoned financing for oil exploration altogether. Over the last 12-months or so, geopolitics has played an ever-greater role in shaping the energy industry and the energy transition, as the fall-out from the Russia-Ukraine war has interfered with the energy transition agenda, resulting in soaring power and natural gas prices. This has wrought havoc with consumers and suppliers alike and stalled, or temporarily reversed, certain net zero initiatives, and encouraged the specter of market intervention.
The integration of trade and risk management solutions with the corporate accounting solution has long been an area of focus for commodity companies and software vendors alike. There are many apocryphal stories in the industry regarding trading profits that entitled trader’s to be paid large bonuses. Those trading profits then seem to evaporate when accounted for in the enterprise accounting system. These stories are symptomatic of a broader but important issue – that of integrating two sets of solutions to provide timely and accurate auditable results. Over the last three decades, many different approaches have been tried out and mooted to address and solve the problems. This paper will examine the problem and discuss potential solutions including highlighting the approach taken by Enuit.
How can your ETRM / CTRM solution help with creditCTRM Center
Current market conditions are forcing many firms exposed to commodities to perform a re-evaluation of their credit risk systems and business processes. As most commodity prices are extremely volatile and progressively rising through time due to issues like shortages, supply chain disruptions of various types including most importantly, political sanctions, increased demand and so on, default by a counterparty is seen as increasingly likely. Indeed, were it not for Government intervention, a few high-profile firms would already have defaulted. However, the need to manage cash more effectively is also driving an enhanced focus on credit risk as many commodity firms face huge margin calls from various exchanges and increased scrutiny by lenders. Importantly, the rapid emergence of regulations around ESG and carbon, whether planned or actual, are also having a huge impact on counterparty credit worthiness. As firms review their credit solutions, they are scrutinizing their ETRM / CTRM solutions and their role in managing credit risk as well.
In an era that is likely to be dominated by the energy transition, metals are set to become the new foundation of modern society. As more of everything is powered by clean electricity, demand for metals will pick up with everything from greater quantities of base metals needed to make batteries to store it all the way through to copper for the cables to carry it.
Other metals like iron in the form of steel, along with rare earth elements and speciality metals, will all also be needed in ever greater quantities to support electrification and construction. Metals like Lithium, Cobalt, Manganese, Zinc, Mercury, Silver, Cadmium are the key components of many types of battery along with Graphite in some instance.
RPS and RECs – Managing an Increasing Regulatory BurdenCTRM Center
Renewable energy certificates or ‘RECs’ have become the currency of the renewable power industry, allowing power providers to expand their product offerings and offer ‘green’ power irrespective of whether or not they can physically generate it. RECs also assure consumers who opt to buy renewable power, that that power has either come directly from a renewable generator, or if a renewable generator is not servicing their facility, that it is offset in the market by power from a renewable source, such as wind, solar or hydro, in another geographic area.
Global Renewables Transition Requires Dedicated ETRM CapabilitiesCTRM Center
Renewable energy resource development is accelerating around the globe as the push to reduce carbon emissions continues to gain momentum.
As the pace of renewable energy expansion quickens, market participants will continue to adjust to the commercial and financial implications as well as production variability and intermittency, reliability, and grid stability. In this white paper we will explore the changing nature of power markets, the complexities that will challenge utilities, power off-takers and traders, and the critical ETRM systems they rely on to ensure profitability.
Global LNG Navigating Risks in a Dynamic MarketCTRM Center
Liquified natural gas (LNG) has been a traded commodity for more than a century. But only in the last couple of decades has the market expanded to meet the ever-increasing demand for energy, through low carbon emissions energy sources. With the development of the massive Qatar LNG facilities in the mid-1990s and the increasing demand for imported gas, global LNG trading has grown from about 50 MTPA in 1990 to more than 350 MTPA in 2020.
Most energy commodities struggled with lower trade and consumption volumes under the pandemic-induced industrial shutdowns in 2020. LNG trade was, however, up slightly at 0.4% during the year, continuing its uninterrupted streak of year-over-year growth since 1996. However, that growth was far below rates in the preceding years which averaged 7% since 2004.
Disruptive Technologies – A 2021 UpdateCTRM Center
In 2021, Commodity Technology Advisory LLC (ComTech) published its first Disruptive Technologies research report (that version kindly sponsored by FIS). Technologies covered in the study scope included cloud/SaaS, Artificial Intelligence (AI), Machine Learning (ML), big data, automation and blockchain, amongst others. The findings were supported by an industry survey that led to the broad conclusions that cloud/SaaS and data management initiatives were in flight. AI, ML and automation seemed to be prepping for an explosion of use while blockchain was overhyped and lagging. Over the last couple of years, our general market observations as analysts have largely confirmed the results of the research.
In all of its forms, risk management is rapidly growing in importance within the commodity asset class. It will only become even more critical and complex in the future. Driven by unprecedented levels of change in the industry ranging from geopolitics to carbon, effective risk management is shifting for many commodity firms from just another activity to be managed to a critical component of business strategy that helps drive and inform brand, gain financing and trust, and demonstrates proper controls.
Over the years, there has been a growing realization that building a commodity trading and risk management (CTRM) solution is not a trivial task. Indeed, quite the opposite. It is a hugely complex piece of software that can never seem to meet all the varied needs of all the different types of companies buying and selling commodities around the globe.
Reimagining Energy Trading and Risk Management (ETRM) With Advanced Delivery ...CTRM Center
ETRM systems are, by their nature, complex software products as the software must mirror the full complexity of the commodities industries, markets, and assets that they serve. Spanning from contract administration through invoicing and settlement, the business processes involved in commodity trading varies greatly. This variation is created by the unique combinations and nature of the physical or financial commodity or commodities traded, as well as by the industry segment (power generation/trading, gas production/trading, agricultural production/trading, etc.), the assets employed in the supply chain(s) and geographic differences (North American power vs. European vs. Japan, for example).
Risk and Compliance – Lessons learned and looking beyond the COVID-19 EraCTRM Center
While it is commonly believed that the pandemic was a black swan event, according to most risk experts it wasn’t. As they point out, the COVID Pandemic was an event that was foreseeable in its occurrence, though perhaps not in its timing. Despite being (thankfully) rare, these types of events do occur and bring with them an increased awareness of the importance of proper and holistic risk management practices, not only as it applies to external risks (as the pandemic was), but also commercial and internal risks as well.
2021 Trends in Agricultural and Soft Commodities TradingCTRM Center
Arguably, all commodity and commodity-exposed businesses are facing unprecedented change and disruption. These numerous challenges range from climate and carbon to COVID lockdowns and work from home, to managing geopolitical and operational risks through supply chains while seeking to digitalise, automate and increase efficiencies across the business.
While talk of a new commodities supercycle may be premature, global population growth and the resulting increased demand suggest rising prices and volatilities, especially in agricultural commodities. Companies need enhanced agility in such markets. It starts with a modern software platform that provides adequate visibility and control over the business, from managing physical movements to limiting risks and exposure.
The global market for CTRM (Commodity Trading and Risk Management) software solutions that cater specifically for metals and ores trading and risk management is the third largest among the major commodity groupings of energy, ags & softs, and metals, at an estimated $174m in expenditures in 2019 according to ComTech’s most recent market sizing report. It is also among the most complex of these markets in terms of its functional requirements, especially in areas like concentrates and ores. Complexity is also found throughout the supply chain. Perhaps these are just some of the reasons why the metals market for CTRM and CM (Commodity Management) software have been underserved by commercially available solutions in the past.
For most raw materials and commodities, the supply chain is both long and complex. Increasingly, firms have been focusing on these supply chains in an effort to better control operational risks and exposures, but increased geopolitical and other risks have now served to sharpened that focus even further.
Issues like COVID-19 lockdowns and trade wars, for example, have meant that managing sourcing, movements, processing, production, procurement, contracts, storage and other activities along complex supply chains more effectively not only reduces costs and improves profitability, but also helps ensure business continuity. Meanwhile, although CTRM (Commodity Trading and Risk Management) software applications that help manage trades and the risks associated with trading are seen as critical, the broader commodity management aspects around managing the supply chain more effectively are rightly gaining in importance.
2020 CTRM Vendor Perception Survey and AnalysisCTRM Center
The 2020 Commodity Technology Advisory’s Vendor Perception Study is a biennial survey and analysis conducted to establish end-user and market influencer perceptions of the CTRM vendors, and to determine market leadership perceptions as well as buying criteria and brand awareness of the different vendors. As in previous years, the research survey was comprised of a comprehensive set of questions that CTRM end-users and industry consultants were invited to answer.
Risk as a Service – The Next Thing in Affordable Corporate Risk Management?CTRM Center
In the past, the use of ‘sophisticated’ risk tools and metrics was considered the bailiwick of the very largest entities that could afford to develop and run with such an approach. Often they saw advanced risk analytics as offering them a strategic and/or competitive advantage in the market. Others in the commodities space simply could not afford to perform sophisticated risk analytics and anyway, they often didn’t have the skills onboard to perform, or even understand, them appropriately.
Some firms resorted to using more simplistic reporting of positions, or other metrics, to monitor ‘risk’ and/or used somewhat simplistic limits for various forms of market and/or credit risk. Often, the calculation of exposures, or at-risk capital, value or earnings, or PFE, took a great deal of time to compute and if something went wrong, like a missing price for example, the calculation might simply crash before completion. This meant that often, risk exposures were only accurate well after the fact and were never available to inform the business when needed.
Check out the webinar slides to learn more about how XfilesPro transforms Salesforce document management by leveraging its world-class applications. For more details, please connect with sales@xfilespro.com
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Globus Compute wth IRI Workflows - GlobusWorld 2024Globus
As part of the DOE Integrated Research Infrastructure (IRI) program, NERSC at Lawrence Berkeley National Lab and ALCF at Argonne National Lab are working closely with General Atomics on accelerating the computing requirements of the DIII-D experiment. As part of the work the team is investigating ways to speedup the time to solution for many different parts of the DIII-D workflow including how they run jobs on HPC systems. One of these routes is looking at Globus Compute as a way to replace the current method for managing tasks and we describe a brief proof of concept showing how Globus Compute could help to schedule jobs and be a tool to connect compute at different facilities.
In 2015, I used to write extensions for Joomla, WordPress, phpBB3, etc and I ...Juraj Vysvader
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Exploring Innovations in Data Repository Solutions - Insights from the U.S. G...Globus
The U.S. Geological Survey (USGS) has made substantial investments in meeting evolving scientific, technical, and policy driven demands on storing, managing, and delivering data. As these demands continue to grow in complexity and scale, the USGS must continue to explore innovative solutions to improve its management, curation, sharing, delivering, and preservation approaches for large-scale research data. Supporting these needs, the USGS has partnered with the University of Chicago-Globus to research and develop advanced repository components and workflows leveraging its current investment in Globus. The primary outcome of this partnership includes the development of a prototype enterprise repository, driven by USGS Data Release requirements, through exploration and implementation of the entire suite of the Globus platform offerings, including Globus Flow, Globus Auth, Globus Transfer, and Globus Search. This presentation will provide insights into this research partnership, introduce the unique requirements and challenges being addressed and provide relevant project progress.
How to Position Your Globus Data Portal for Success Ten Good PracticesGlobus
Science gateways allow science and engineering communities to access shared data, software, computing services, and instruments. Science gateways have gained a lot of traction in the last twenty years, as evidenced by projects such as the Science Gateways Community Institute (SGCI) and the Center of Excellence on Science Gateways (SGX3) in the US, The Australian Research Data Commons (ARDC) and its platforms in Australia, and the projects around Virtual Research Environments in Europe. A few mature frameworks have evolved with their different strengths and foci and have been taken up by a larger community such as the Globus Data Portal, Hubzero, Tapis, and Galaxy. However, even when gateways are built on successful frameworks, they continue to face the challenges of ongoing maintenance costs and how to meet the ever-expanding needs of the community they serve with enhanced features. It is not uncommon that gateways with compelling use cases are nonetheless unable to get past the prototype phase and become a full production service, or if they do, they don't survive more than a couple of years. While there is no guaranteed pathway to success, it seems likely that for any gateway there is a need for a strong community and/or solid funding streams to create and sustain its success. With over twenty years of examples to draw from, this presentation goes into detail for ten factors common to successful and enduring gateways that effectively serve as best practices for any new or developing gateway.
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Do you know that React Native is being increasingly adopted by startups as well as big companies in the mobile app development industry? Big names like Facebook, Instagram, and Pinterest have already integrated this robust open-source framework.
In fact, according to a report by Statista, the number of React Native developers has been steadily increasing over the years, reaching an estimated 1.9 million by the end of 2024. This means that the demand for this framework in the job market has been growing making it a valuable skill.
But what makes React Native so popular for mobile application development? It offers excellent cross-platform capabilities among other benefits. This way, with React Native, developers can write code once and run it on both iOS and Android devices thus saving time and resources leading to shorter development cycles hence faster time-to-market for your app.
Let’s take the example of a startup, which wanted to release their app on both iOS and Android at once. Through the use of React Native they managed to create an app and bring it into the market within a very short period. This helped them gain an advantage over their competitors because they had access to a large user base who were able to generate revenue quickly for them.
Accelerate Enterprise Software Engineering with PlatformlessWSO2
Key takeaways:
Challenges of building platforms and the benefits of platformless.
Key principles of platformless, including API-first, cloud-native middleware, platform engineering, and developer experience.
How Choreo enables the platformless experience.
How key concepts like application architecture, domain-driven design, zero trust, and cell-based architecture are inherently a part of Choreo.
Demo of an end-to-end app built and deployed on Choreo.
Software Engineering, Software Consulting, Tech Lead.
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Hivelance, a leading provider of cryptocurrency trading bot development services, stands out as the premier choice for crypto traders and developers. Hivelance boasts a team of seasoned cryptocurrency experts and software engineers who deeply understand the crypto market and the latest trends in automated trading, Hivelance leverages the latest technologies and tools in the industry, including advanced AI and machine learning algorithms, to create highly efficient and adaptable crypto trading bots
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We describe the deployment and use of Globus Compute for remote computation. This content is aimed at researchers who wish to compute on remote resources using a unified programming interface, as well as system administrators who will deploy and operate Globus Compute services on their research computing infrastructure.
Listen to the keynote address and hear about the latest developments from Rachana Ananthakrishnan and Ian Foster who review the updates to the Globus Platform and Service, and the relevance of Globus to the scientific community as an automation platform to accelerate scientific discovery.
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1. PUTTING DATA AT THE
HEART OF ENERGY
TRADING
WHITEPAPER
Sponsored by
2. A ComTechAdvisory Whitepaper
INTRODUCTION
In a digital world, data is King, and while energy and commodities have been going through a
period of digitalizing for the last several years, there can be no doubt that coming up with data
management strategies has also played an important, if not critical, role in those strategies
as well. Indeed, this was strongly emphasized in Commodity Technology Advisory’s disruptive
technologies research1
over the last few years, where more than half of all of those questioned
in the industry were planning on further investment in data management and data mining. This
was also where other new technologies like AI, for example, were thought likely to be applied for
data mining purposes along with the use of enhanced visualization techniques.
Putting Data at the Heart of Energy Trading
Since that report was issued, much has already
shifted due to industry events and drivers. Increased
price volatility, particularly in energy, because of
the Russia-Ukraine war and the current stage in the
ongoing energy transition, along with digitalization
and an increase in speed and data volumes around
automated trading, has only re-affirmed many of its
findings. Supreme among those would be the need
for reliable and up to the minute data to support all
trading and associated activities. Despite that, many
in the industry still struggle with data – either in terms
of being able to extract and utilize it from systems like
ETRM or CTRM or, being able to access it in the right
time frame and at the right quality.
Modern technologies have also meant that more data
is available and collectible than ever before. All forms
of data, both structured and unstructured, can be
usefully used in trading and risk management if it is
of sufficiently good quality and provided in a timely
manner. A lot of effort is spent identifying, collecting,
and processing all types of data from a variety of
sources by most trading or commodity-related
firms. While some data like weather and pricing,
for example, can be provided by data aggregating
services, other data sources are web content often
obtained via screen scraping, documents, images
and so on, that need proprietary methods to obtain,
cleanse, and utilize them. This is why there has been,
and continues to be, significant investment in data and
data management, whether that is in the form of data
lakes or sophisticated data management applications.
Given the increasingly real-time nature of trading in
many commodities and instruments, and given the
speed of change in markets, access to high quality
and timely data can make the difference between
profit and loss or, good and poor decisions. This paper
looks at those data management needs within trading
and risk in energy and commodities, and it specifically
examines FIS’s offerings.
1
https://www.ctrmcenter.com/publications/reports/disruptive-technologies-a-2021-update/
10. FIS is a leading provider of technology solutions for
financial institutions and businesses of all sizes and
across any industry globally. We enable the movement
of commerce by unlocking the financial technology
that powers the world’s economy. Our employees
are dedicated to advancing the way the world pays,
banks and invests through our trusted innovation,
system performance and flexible architecture. We
help our clients use technology in innovative ways to
solve business-critical challenges and deliver superior
experiences for their customers. Headquartered in
Jacksonville, Florida, FIS is a member of the Fortune
500® and the Standard & Poor’s 500® Index.
getinfo@fisglobal.com
https://view.ceros.com/fis-global/market-data-
analyzer-energy-edition/p/1
To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
SPONSORED BY FIS
11. ABOUT
Commodity
Technology
Advisory
LLC
Commodity Technology Advisory is the leading analyst organization covering the ETRM and
CTRM markets. We provide the invaluable insights into the issues and trends affecting the
users and providers of the technologies that are crucial for success in the constantly evolving
global commodities markets.
Patrick Reames and Gary Vasey head our team, whose combined 60-plus years in the energy
and commodities markets, provides depth of understanding of the market and its issues that is
unmatched and unrivaled by any analyst group.
For more information, please visit:
www.comtechadvisory.com
ComTech Advisory also hosts the CTRMCenter, your online portal with news and views about
commodity markets and technology as well as a comprehensive online directory of software
and services providers.
Please visit the CTRMCenter at:
www.ctrmcenter.com
PO Box 1269,
New Waverly,
TX 77358
+1 832 687 4736
Prague, Czech Republic
+420 775 718 112
ComTechAdvisory.com
Email: info@comtechadvisory.com