Entries for 'Ann Surratt'

Oracle’s annual OpenWorld conference was held in San Francisco last week, and Triple Point’s chief technology officer, Doug Daugherty, took center stage to unveil the results of Triple Point’s Oracle Exadata benchmark study. The study took place over a two-week period in Oracle’s Exastack Lab and demonstrated Triple Point’s record performance levels for the near real-time valuation of massively large and complex commodity trade portfolios.

The Q&A session that Daugherty took part in was mediated by Judson Althoff, SVP of worldwide alliances & channels and embedded sales, Oracle. As one of three featured Oracle Exastack Ready partners, Daugherty described Triple Point’s two-week performance trial with Exadata to an audience of over 4,500 Oracle stakeholders.

Doug reports that there was a lot of buzz at the conference about the newly launched Oracle Exastack Program. Triple Point is excited to be one of the key inaugural members of the program.

• The Oracle Exastack Program helps enable ISVs and other OPN members to rapidly build and deliver faster, more reliable applications.

• Since the Oracle Exastack Program was launched just over three months ago, partners have achieved over 150 Oracle Exastack Ready milestones for Oracle Solaris, Oracle Linux, Oracle Database or Oracle WebLogic Server. This rapid adoption of the program is a testament to the importance and value both partners and Oracle place on these kinds of enablement resources.

• Partners include ADP, Beijing Teamsun, cVydia, Essatto, F5, GoldenSource, INFOPRO, IBIS, Informatica™, I-ON, Lingotek, Neusoft, PhinCon, Smart Developer, Solix, Teleran and Triple Point, among others.

• By deploying their applications on Oracle Exadata Database Machine and Oracle Exalogic Elastic Cloud, ISVs can reduce the cost, time and support complexities typically associated with building and maintaining a disparate application infrastructure - enabling them to focus more on their core competencies, accelerating

By achieving Oracle Exastack Ready status, Triple Point can use available Oracle Partner Network (OPN) resources to optimize its applications to run faster and more efficiently — providing increased performance and value to its customers.

The charge to achieve Exastack Ready status was lead by Triple Point’s Emerging Technolgies Group. The ETG is responsbile with staying abreast of the fast-moving and dynamic technology markets to guarantee that Triple Point maintains its significant leadership position in the use of technology to solve critical business problems. They conceive, design, and prove — with lab-based experiments and scenario simulation — next generation advancements to Triple Point’s Commodity XL™ technology architecture for continued excellence in scalability, high concurrency, and processing performance.

As Doug recently said in a press release regarding the conference, “Triple Point has always prided itself on having the most advanced technical architecture and delivering the best performance and reliability. Achieving Oracle Exastack Ready status is another example of Triple Point’s commitment to maintaining its technological leadership.”

I look forward to seeing how the Oracle Exastack program grows. If the response it received at OpenWorld is any indicator, it looks like it is going to be huge success. Triple Point is proud to be a part of the program and looks forward to OracleWorld 2012.
Gary Vasey of CommodityPoint has watched and/or participated in the CTRM software space for the last 19 years.  His research and commentary is always insightful and helps bring clarity to the complex E/CTRM marketplace.  If you aren’t already following his blog you should check it out.  It is a must-read for anyone involved in the commodities business.

In a recent post, The Race for Market Share in CTRM Software: Can Triple Point Catch Openlink?, Gary reports that, “Triple Point, by our estimates, is growing at a faster pace than the overall market. We estimate the market growth rate to be around 11 percent in 2011 and Triple Point’s growth to be more than twice that rate at around 26 percent.”  He believes that Openlink is growing at a much slower rate. To read the full article and see when and why Triple Point might catch Openlink click here.
In recent years, the world agricultural markets have seen a surge in prices and volatility brought about by several factors including poor harvests, sustained demand, increased use of agricultural products for fuel, increased activity on commodity markets and soaring oil prices causing fuel and fertilizer costs to rise. As a result, Growers, Originators and Producers are starting to adopt CTRM systems, typically used by energy companies, in order to gain the real-time business intelligence they need to make optimal decisions around trade execution, position management, and physical logistics.

Triple Point has been helping traditional energy and commodity trading companies manage the unique complexities of their commodity trading and risk management business for over a decade. In order to help Agriculture companies identify the most critical components of a CTRM solution for their business, Triple Point has compiled a checklist of the key functionality Agriculture companies should look for when considering CTRM tools.

Here are seven to consider:

1.    
Trading – A CTRM solution should provide complete control over trading operations and enable traders to better manage current positions and gain real-time information to take advantage of market movement. It should integrate physical and financial trading, improve trading efficiencies with deal entry templates/blotters, provide sensitivity analysis, and enable "what-if" scenarios.

2.     Price Risk Management-  Look for sophisticated analytical tools for portfolio stress testing and sensitivity analysis to run what-if trades. These tools should enable you to analyze real-time position and exposure — market, volumetric, credit, delivery, and FX risk — at granular and rolled-up levels for optimized price risk management.

3.     Chartering and Vessel Operations- Commercial chartering and vessel operations are a crucial part of the agribusiness supply chain and must be seamlessly integrated into the CTRM system.  At a minimum, the system should allow  you to manage all chartering, post-fixture activities including freight risk management, and financial aspects of commercial vessel operations in a single system.

4.     Scheduling- Schedulers must be able to plan, conduct, and optimize complex physical movements in real time. The system should manage the logistical complexities and streamline the supply chain operations required to transport bulk commodities. It should handle all transactions from straight forward physical trade matching, to complex itinerary scheduling involving multiple trades, commodities, methods of transportation, and inventory movements.

5.     Counterparty Credit Risk Management- Recent financial and debt crises demand the ability to proactively measure, manage, and mitigate the risk arising from counterparty default. The CTRM solution should address the entire credit risk process and provide a full range of credit analysis and operational tools in 3 key areas: exposure, collateral, and counterparty management. The most advanced solutions also provide credit analytics.

6.     Hedge Accounting- A key component of any CTRM solution is the ability to manage the daunting set of requirements under hedge accounting regulations, including the detailed testing, documentation, and reporting that must be performed in order to qualify for hedge accounting status. Make sure that the solution provides full compliance with ASC 815 (FAS 133), ASC 815-10 (FAS 161), IAS 39 (IFRS 9) and similar national hedge accounting regulations.

7.     Fair Value Disclosure- The system must provide the tools and framework to define, measure, and manage fair value levels and meet all disclosure requirements for ASC 820 (FAS 157) and IFRS 7 compliance.

Triple Point’s Commodity XL for Agriculture can help you meet all of these requirements.  If you would like to learn more about Triple Point’s CTRM solution for Agriculture companies click here.



In a recent article, Reuters ranked the world’s top independent oil and commodity traders, identifying Vitol Group, Glencore International AG, Cargill Inc., Koch Industries, Trafigura, and Gunvor International as the largest. Four of the top six organizations, Glencore, Cargill, Trafigura and Gunvor, rely on Triple Point’s commodity management software to effectively manage their commodities and enterprise risk.

 

Triple Point’s Commodity XL™ provides them with a real-time, enterprise view of position, supply chain, and risk. They use the enterprise, multi-commodity platform to deliver superior business intelligence for proactive decision-making and competitive advantage. Commodity XL integrates physical and financial trading, provides sensitivity analysis, enables "what-if" scenarios, and improves business process efficiency across front, middle, and back offices.

 

Our mission from day one has been to provide the most advanced systems, tools, and models to help clients profitably trade, transport, and store commodities, as well as manage the associated risks. Seeing the top commodity traders in the world benefit from our products reaffirms Triple Point’s position as the leader in energy and commodity management software.

The historic downgrade of the US government debt by Standard & Poor's (S&P) on Friday has shaken the markets worldwide. Brent Crude dropped $10 and suffered the biggest two-day decline since 2009— highlighting just how quickly commodity markets can swing in the heat of a crisis. Rueter's reported yesterday that Brent crude fell to $98.74 a barrel, the lowest intraday price since February 8, and was down from an April peak above $127. This week's market turmoil leaves many asking, what must I do to survive in this global economic uncertainty?

Analysts are warning that oil prices could fall further if a second recession takes hold, but both Merrill Lynch and Goldman Sachs maintain their 2012 price forecasts.

"We believe that WTI crude oil prices could briefly drop to $50 under a recession scenario," Merrill Lynch said in a note, but it maintained its 2012 average forecast for U.S. crude at $102 and its forecast for Brent next year at $114.

"I don't think anyone has a clear picture right now," Brian Hicks, co-manager of the Global Resources Fund at U.S. Global Investors, said Monday, when oil finished the day at $83.10 a barrel. "There are just too many question marks."

Chief among them: How will the debt downgrade affect U.S. economic growth? Will U.S. consumer spending remain low, and will that impact factory production in China? Will Italy or Spain default on their debt, driving Europe into a recession?

In the midst of this week’s high volatility and uncertainty, C-level executives are turning to their risk managers and asking, “What is our exposure if a double-dip recession becomes reality? What happens to our balance sheet if crude drops to $50? How can we drive profit from this record-setting volatility?”  These questions are very difficult, if not impossible to answer with spreadsheets.

Once again, the market is reminding us that it is absolutely critical to have the technology and analytical capabilities in place to run shifting scenarios and understand enterprise-wide commodity exposure.  Do you think that commodity price volatility is going to go away? Or that policy risk and global economic uncertainty is waning? 

In this environment of rapidly changing information it’s vital to at least have certainty that your data is correct. Triple Point’s Commodity Management Solution provides accurate, up-to-the-minute risk intelligence— arming you with the information you need to make decisions with confidence and certainty. And who doesn’t need a little certainty in these uncertain times?

“Thanks to the global financial meltdown, we now know what a "black swan" is,” writes Russ Banham in the April edition of CFO Magazine, “but do we know from which direction the next one will swim into view, and what to do when it does?” Black swan events are highly unpredictable, but it appears more and more companies are implementing ERM programs in hopes of being better prepared to identify and mitigate the impacts of the next one. What is causing this uptake? Is it really the fear of the next black swan event?

Possibly, but Banham shares 3 other converging trends that he thinks will propel ERM to a new level of acceptance and maturity.

Regulatory Pressure on Corporate Boards.  Corporate boards can no longer ignore risk management. The Dodd-Frank Act establishes new requirements for board risk oversight and reporting,” explains Banham. “Rating agencies, led by Standard & Poor's, now factor ERM criteria for financial and nonfinancial entities into the ratings process. The Committee of Sponsoring Organizations (COSO) rolled out COSO II (referred to by many as "COSO ERM") in 2004 to establish requirements for risk identification, management, and reporting. And the Securities and Exchange Commission has sharpened its stance on risk management.”

ERM Recognition as an overall Risk Management Best Practice. Historically, companies have struggled to implement ERM due to a lack of overall standards. A set of standards is now emerging. "If you can demonstrate that you have identified and analyzed risks according to a best-practice standard, you have an advantage over competitors that do not closely hew to the standard," explains Bill Ingram from Zurich Services.

New Technologies.  New risk management tools are making critical risk analytics including stress-testing and "what-if" scenarios easier to perform and report. "Things are never static, so you need business intelligence on risks that flows in real time to senior stakeholders to enhance their decision making," says Henry Ristuccia, the leader of Deloitte's governance and risk-management practice.

Check out the full CFO Magazine article “Disaster Averted?” to learn more about what is driving ERM acceptance and predictions on what’s next for ERM.  It is an excellent read.

The long-term economic consequences of the government bail outs and stimulus packages are far from clear, and predications about what will happen to prices vary enormously.  Triple Point’s Michael Schwartz recently shared with the Journal of Compliance, Risk and Opportunity his thoughts on the New Risk Management Imperative. 

I particuraly enjoyed his thoughts on the 3 things one can be certain about:

1. High Levels of Volatility will Continue to Thrive. The Financial Times/Stock Exchange (FTSE) 100 Index over the recent three-month period shows a surge to 5,796 in April 2010 and a drop in June 2010 to 4,914. In 2008 alone, we saw three or four ‘100-year risk events,’ and will almost certainly see more such extreme events, that are simply outside of normal expectations.

2. Everyone is Taking Closer Look at Credit. Credit risk managers used to triage potential counterparties into three groups – definite yes, definite no and everyone in between. Now there is no chance that a potential counterparty will be automatically accepted – everyone is either rejected or sent for assessment. The profile of the credit department has risen and it isn’t going to sink any time soon.

3. Markets will be more Closely Regulated - The precise form of regulation is still being worked out, but there’s no denying the growing importance of accounting standards that require additional transparency in valuations and accounting methods such as International Accounting Standards (IAS) 39, Financial Accounting Standards (FAS) 133, FAS 157 and FAS 161.

Wherever the markets go in the next 12 months, firms with a real-time enterprise trading and risk platform that integrates the four key areas of risk – market/price risk; operational risk; regulatory risk; counterparty credit risk – will be best prepared to capitalize on today's world of increasing uncertainty.  Click here to read the full article in from the Journal of Compliance, Risk and Opportunity.

George Carlin once told a great story about how he "put a dollar in one of those change machines and nothing changed.”  Wouldn’t it be nice if we could control change.  In today’s volatile world we never know when to expect it, where it will come from or what it will bring ­- we just know it’s coming.

The Dodd-Frank Act, the most sweeping financial reform since the 1930’s, is coming and it will bring dramatic changes to the face of energy and commodity credit risk.  New rules on central clearing, position limits and margining have the potential to significantly increase the cost of hedging and reduce the availability of credit.  Many of the details are still uncertain, but the 5 simple rules below will help you prepare for the Dodd-Frank Act and other inevitable changes. 

  1. Internal Scoring.  Don’t rely solely on credit rating agencies.  Your own internal model can be more accurate.
  2. Monitoring.  Monitor your cash flow risk and exposure. Increasing capital requirements make it more important than ever to mitigate risk and seize opportunity.
  3. Margining.  Do not use spreadsheets for collateral management. Robust collateral management is now a necessity. If you have a significant number of counterparties, it is time to eliminate spreadsheets. With the proliferation of margining they are no longer adequate and cannot provide active and accurate cash management.
  4. Reporting.  Build flexible reporting infrastructure that prepares for today’s uncertain fiscal and regulatory environment.
  5. Analytics.  Perform liquidity analysis with analytics. Companies who understand the impact of capital and margin requirements on their liquidity will have a competitive advantage.

We can’t control change, but proactive companies with a flexible trading and risk infrastructure will be best prepared to avoid the pitfalls and take advantage of the new opportunities that come with change.  Is reporting cash exposure a piece of cake? Do you know without a doubt your IT systems will meet new regulations? Is your margining process working great for you?  If not, maybe now is the time for change.

Are you prepared for the sweeping regulatory changes brought on by the Financial Reform Bill? The new financial reform law is not isolated to just banks and will dramatically alter the landscape of energy and commodity trading and hedging.

Triple Point recently hosted a webinar on the Dodd-Frank Act and what you can do now to prepare for the new regulatory requirements.  In case you missed you live webinar, here is a link to download the webinar and view at your convenience.

In this webinar, Michel Zadoroznyj, Vice President of Product Center, Treasury and Regulatory Compliance Division at Triple Point, discussed how the Dodd-Frank Act will impact the future of energy trading, who will be affected by the new rules and the implementation timeline.  Additionally, all attendees learned 8 steps to ensure you have the IT and reporting infrastructure in place to handle new rules on position limits, central clearing, margining and more.

To hear the 8 Steps to Prepare for the Dodd-Frank and learn more about the sweeping regulatory changes, download the webinar below.

For those of you who follow Triple Point news, you might have recently seen that Triple Point recorded record revenue for 2010. Following our recent announcement, Dr. Gary M. Vasey of CommodityPoint posted this blog with some interesting observations on Triple Point’s growth over the last three years and his perspective on how Triple Point has found success in a difficult industry.

Gary points out that, “a quick review of the company’s previous years announcements shows that Triple Point is successfully growing on a consistent basis recording 21 new clients in 2008, 36 in 2009 and 41 in 2010. Additionally, the company has seen recurring software revenue growth of 72% in 2008, 55% in 2009 and 37% in 2010 as well as growth in profits each year.”

Everyone at Triple Point is very proud of our growth over the past 3 years and our record revenue in 2010, especially in the face of the recent financial crisis. In addition to our record-setting revenue in 2010, we also charted record profits and software sales driven by product innovation, new market penetration, and strong customer support. 

2010 Highlights from the recent announcement include:

-        41 new customers signed
      
-        52% year-over-year EBITDA growth

-        64 customer go lives

-        105 new license transactions

-        500% year-over-year customer growth in EMEA; 400% in EMEA

In case you missed the announcement, you can read the full announcement here.

I fully expect 2011 to be another record setting year for Triple Point as companies across a wide variety of industries like mining, transportation, industrial manufacturing, consumer products, food & beverage, fuel marketing, petroleum refining, oil & gas production, chemicals, commodity trading, financial services, gas marketing, and electric utilities look to purchase technology solutions to tackle mounting commodity management issues.
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Events

Procemin 10th International Mineral Processing Conference

October 15-18, 2013 | Chile

XXV Brazilian National Meeting of Mineral Treatment and Extractive Metallurgy (ENTMME)

October 20-24, 2013 | Brazil



Opinions expressed on this blog are those of its individual contributors, and do not necessarily reflect the views of Triple Point Technology, Inc.