Vessel ShipTriple Point Technology announced today the availability of Softmar Chartering and VesselOps™ version 1108R. The new release of Triple Point’s flagship chartering and vessel operations software provides shipping participants with real-time intelligence for vessel position and spot cargos. With this recent functionality, charterers are able to fix cargos and vessels ahead of competitors, decrease ballast time, and increase throughput and profitability.

The unmanageable volume of market communication has always been a limiting factor in the shipping business; charterers can receive thousands of emails a day. Business opportunities are often forfeited by sifting through data and losing analysis time. Triple Point has solved this problem by extending its straight-through processing capability and leveraging the Copenhagen Shipping Exchange’s (CPHSE) revolutionary new software service. The service provides structured messaging of open vessel positions, available cargo, and noon day reporting — all which are now seamlessly integrated into Chartering and VesselOps.

“Our technology reads more than 90% of mail volume, extracting open cargos and vessels around the world,” said Stefan Avivson, CEO, CPHSE. “Triple Point’s unique ability to read, analyze, run scenarios, and turn the data into shipping intelligence is a key differentiator.”

”Extending Chartering and VesselOps so that it seamlessly integrates with the CPHSE is one more example of Triple Point’s commitment to automate the end-to-end business process,” said Michael Lolk Larsen, managing director, chartering and vessel operations, Triple Point. “With this latest move, our shipping customers can preemptively act on market information to gain additional business and decrease ballast time. In today’s complex and volatile shipping market — actionable intelligence that enables proactive and strategic decision-making is the winning factor.”

Turbulent economic conditions combined with stringent and uncertain regulatory reform are bringing dramatic changes to the face of energy and commodity credit risk. Don’t just cross your fingers and hope a catastrophe won’t happen to your organization.

Triple Point recently hosted a webinar on The New Rules of Counterparty Credit Risk and how you can prepare for potential economic & regulatory pitfalls with a flexible and transparent credit risk system.

In case you missed the live webinar, here is a link to download the webinar and view at your convenience.

In this webinar, Triple Point’s Vice President, Credit Risk Division, Dan Reid, discussed how Triple Point’s Commodity XL for Credit Risk™ will safeguard against counterparty credit risk failure and growing regulatory demands. Attendees learned how our solution will deliver an ROI to their business through liquidity savings and business expansion, how to reduce reliance on credit rating agencies, the impact of Dodd-Frank, Markets in Financial Instruments Directive (MiFID) and Market Abuse Directive (MAD) on credit risk management, and more.

To learn about the implications of market volatility and financial reform on credit risk, and how you can safeguard against counterparty credit risk failure, download the webinar below.
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NFR Energy LogoNFR Energy has licensed Triple Point’s Commodity XL™ software for hedge accounting and fair value disclosure to ensure FAS 133, FAS 157, and FAS 161 compliance.

NFR Energy engages in the acquisition, exploration, development, and production of oil and natural gas and has invested $1 billion in business development to establish a focused asset base.

“Triple Point has a proven track record of providing risk management software to E&P companies,” said Ash Elias, controller, NFR Energy. “We’re confident Triple Point is the best choice to deliver a turnkey solution that manages our hedge accounting requirements, including mark-to-market analysis, effectiveness testing, and fair value disclosure reporting.”

US GAAP and international accounting standards are continually evolving. In a stringent and unforgiving regulatory environment, getting it wrong can put company reputation, earnings, and stock value at risk.

“Companies that rely on homegrown hedge accounting systems face a herculean task of keeping up with complex standards and ensuring modifications are reflected accurately in their systems,” said Michel Zadoroznyj, VP, treasury and regulatory compliance, Triple Point. “Triple Point stays on the forefront of regulatory change to ensure its treasury software remains compliant and to enable our customers to focus on growth.”

In addition to NFR Energy, notable companies that have recently selected Triple Point software for hedge accounting and fair value disclosure include World Fuel Services, Hunt Oil, Evonik, Alta Mesa, Magellan Midstream, Unilever, Xcel Energy, and Petra Foods.

Dodd FrankTriple Point announced today the availability of Commodity XL for Dodd-Frank: End User Exemption™. The compliance solution is designed to ensure that organizations comply with Dodd-Frank rules for validating hedging programs in order to avoid central clearing and additional margin requirements.

Dodd-Frank will require that all OTC trades be centrally cleared but exempts companies that trade to mitigate their commercial risk. Commodity XL for Dodd-Frank: End User Exemption enables the exemption process for each hedge, allowing companies to protect their hedging programs and ensure that valuable working capital is retained.

Triple Point’s compliance solution manages the exemption process on a hedge by hedge basis. Key functionality of the product includes a complete audit trail of hedging activity, effectiveness testing, and automated documentation and disclosure management. Commodity XL for Dodd-Frank: End User Exemption will be continually updated as regulations evolve.

“The business impact of failing to get Dodd-Frank end-user exemptions for bona fide hedges starts with increased margining but ultimately ends with hedging programs becoming too expensive to maintain. This puts organizations at risk of an increasingly volatile market,” said Michel Zadoroznyj, VP, treasury and regulatory compliance, Triple Point. “There are better uses of capital than having it sit in margin accounts. To ensure exemptions, organizations need to have the right software solution in place.”

For the third year running, top analyst firm Gartner has named Triple Point as a ‘Leader’ in trading & risk management. Among Triple Point’s many core strengths, Gartner stated that Triple Point continues to offer the most comprehensive FASB compliance solutions.

US Patent and Trademark Office SealI am pleased to announce that recently Triple Point saw the fruition of its innovative credit research and development when our company was successfully granted US Patent #US007571138B2: “Method, System, and Program for Credit Risk Management Utilizing Credit Limits.”

Abstract: “Software aggregates and integrates credit exposure and credit data across accounting, trading, and operational systems within an organization and generates views of available credit in light of the exposure and credit limits.”

A comprehensive model of exposure to all counterparties, across all of their divisions and subsidiaries, is assembled, enabling the creation of a hierarchical view of each counterparty that models its real-world parent-child relationships.

Credit limits are set across the enterprise, supporting the organization’s unique methodology and business process — and on a granular basis — incorporating factors such as external credit ratings, internal credit scores, commodity, geographic region, deal duration, and security instruments.

Credit, transactions, and risk are then determined at any level in the hierarchy. After aggregating exposure and credit limit information, the system presents a comprehensive, detailed, real-time, enterprise-wide view of current exposure, collateral requirements and available credit for both a company and its counterparties. This makes it easy for users to identify trouble spots by counterparty, geography, industry, and credit rating and to manage the company’s liquidity.”

Posted in: @Triple Point   |   Tagged  Credit Risk Management

Dan ReidThe sweeping Dodd-Frank Act changes in the US for market participant classification, clearing, and margining are being closely watched and emulated internationally.  The dangers/opportunities between national regulations, adoption, and timelines can be significant.

In September of last year, the European Commission proposed a framework to regulate OTC derivatives, central clearing counterparties, and trade repositories.  In December, the Commission also published a consultation paper on the Markets in Financial Instruments Directive (MiFID) to “improve the regulation, functioning and transparency of the financial and commodity markets to address excessive commodity price volatility.”  In a joint statement from EU Commissioner, Michel Barnier and CFTC Chairman, Gary Gensler, Barnier stated, “It’s essential –across the board on all financial regulation–that the United States and Europe move in parallel and that we don’t create new space for regulatory arbitrage.”

It still remains to be seen how significant the differences will evolve, and which countries and companies will be most affected or take the most advantage (China stands out as a likely recipient of business fleeing costly or time-consuming regulations.)  Below is a table with some of the key similarities/differences.  Also of note is that some of the regulations at the bottom that are US-centric may be applied to US-listed companies or those operating in the US (e.g. Canada.)

 Description

US

 EU

 Clearing  Mandatory for standardised OTC contracts (unless end-user exempted)  X  X
 End-User
Exemption
 Hedging for non-financial entities  X  X
 Mandatory
Reporting
 Uncleared swaps to SDR (US) or trade repository (EU)  All  Specified
Threshold
 Volker Rule  Prohibiting bank proprietary trading  X  
 Swap Push Out  Banks to establish separate trading entity (“too big to fail”)  X  
 Timeline  Deadlines for most major provisions to be published 9/2011  12/2012
 Policy
Fragmentation
 Regulatory bodies that are responsible for enforcement  Many
Agencies
 Many
Countries
 Payment
reporting
 Reporting on payments to non-US governments (provinces and municipalities)  X  
 Compensation
Limits
 Executive compensation drawbacks  X  
 Safety
Regulations
 Companies operating mines in the US  X  
 Whistleblower
Recovery
 Up to 30% >$1M in damages  X  
 Conflict
Minerals
 Independent review of minerals being conflict free (e.g. Congo)  X  

Can you mark all derivatives and perform all hedge accounting requirements for testing, documentation and reporting with only a few clicks? Are you confident you meet all FAS 133, 157 (ASC 815/ASC 820) and IFRS 7 requirements? Are you worried you might fail an audit because of hidden spreadsheet errors?

Triple Point recently hosted a webinar on Hedge Accounting Management and Fair Value Disclosures and how you can streamline your compliance efforts, gain control of operational risk and avoid financial restatements and other regulatory pitfalls. In case you missed the live webinar, here is a link to download the webinar and view at your convenience.

In this webinar, Triple Point’s regulatory experts, Mike Zadoroznyj and Scott Holzman, discussed how Triple Point’s Treasury and Regulatory Management Suite is the only solution that supports all Commodity, FX and IR hedge accounting and fair value disclosure requirements on a single platform. Attendees discovered an easier way to meet strict hedge accounting requirements, how to optimize hedging strategies, and new features including: extended MTM regression functionality and support for commodity swaptions and inventory fair value hedges.

To learn how you can simplify reporting, eliminate risk, and ensure compliance, download the webinar below.


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Gold BarsKarur Vysya Bank (KVB), India’s leading private sector bank, has licensed Triple Point’s commodity management software to control precious metals price volatility in its newly established bullion business.

Founded in 1916, KVB operates more than 350 branches across India and reported revenue of $8 billion for the financial year ending March 2010. New to the precious metals market, KVB was seeking a comprehensive commodity management platform to effectively handle inventory, reconciliation, risk, and regulatory compliance. Triple Point’s Commodity XL for Precious Metals™ provides KVB with advanced stock and inventory management, secure transaction processing, and a real-time view of risk across the enterprise.

More than 60% of all gold imported to India is transacted through Triple Point’s precious metals software to manage complex wholesale bullion operations. Triple Point bullion customers include HDFC Bank, ICICI Bank, Standard Chartered Bank, Kotak Mahindra Bank, Diamond India, AXIS Bank Limited (formerly UTI), State Bank of India, Bank Muscat, Su-Raj Diamonds, and the Indian Bullion Market Association (IBMA).

“Triple Point’s precious metals software is the leading market-proven solution for the treasury bullion business,” said Mike Ravo, VP, industry solutions, Triple Point. “The system monitors client exposure and margins in real-time, integrates trading and logistics, and supports robust risk management and compliance. We welcome the opportunity to help KVB manage its new bullion business, as well as future growth.”

Posted in: @Triple Point   |   Tagged 

HMEL LogoTriple Point Technology announced today that HPCL-Mittal Energy (HMEL) has licensed Triple Point’s Commodity Management Solution to manage crude supply and product marketing, logistics, and regulatory risk including compliance with IAS 39 disclosure and reporting. Triple Point continues its rapid expansion across the Asia-Pacific region (APAC) with new customers in energy, manufacturing, precious metals, transportation, and food and beverage.

HMEL is a joint venture between Hindustan Petroleum Corporation Limited and Mittal Energy Investment Pte Ltd — a Mittal Group company and owner of the world’s largest steel company. HMEL was established to operate a major oil refinery in India, producing high value petroleum products.

HMEL selected Commodity XL™ to provide real-time visibility into market position and exposure and to support supply chain logistics and inventory management.

In addition to HMEL, notable Triple Point customers in Asia Pacific include: DCP Trading Shanghai (base metals, Hong Kong), IFFCO (agriculture, Malaysia), Petredec (LPG trading, Singapore), Prime East (commodity logistics, Hong Kong), New Zealand Mint (precious metals, New Zealand), Incitec Pivot (chemicals, Australia), BPCL (Oil, Mumbai), Reliance Industries (Oil with users in Mumbai, Singapore, London, and Houston), and State Bank of India, HDFC Bank, and ICICI Bank (precious metals, India).

“Asia Pacific is a strategic market for Triple Point, and with offices in Singapore, Pune, Sydney, and Chennai, and over 200 staff in the region, we have the infrastructure in place to provide our current and future customers with competitive advantage,” said Michael Schwartz, chief marketing officer, Triple Point. “We welcome HMEL to our Asia-Pacific family and look forward to working with them for years to come.”

Posted in: @Triple Point , Success Stories   |   Tagged  Asia, Commodity XL, CTRM

World Fuel ServicesWorld Fuel Services Corporation (NYSE: INT) has selected Triple Point’s flagship commodity management platform to support trading, scheduling, counterparty credit risk, and regulatory risk for its global fuel marketing operations.

Headquartered in Miami, Florida, World Fuel Services is a global fuel logistics company, principally engaged in the marketing, sale, and distribution of marine, aviation, and land fuel products and related services. World Fuel Services sells fuel and delivers services to its clients in 200 countries and at over 6,000 locations, including airports, seaports, tanker truck loading terminals, and other customer storage locations.

“Price volatility is driving the rapid adoption of sophisticated, enterprise risk platforms by energy and commodity companies,” said Peter F. Armstrong, president and CEO, Triple Point. “Triple Point has become the solution of choice amongst fuel marketers, and we look forward to supporting World Fuel Services now and in the future.”

World Fuel Services licensed Commodity XL™ for Oil, Gas, Emissions, Credit Risk, Hedge Accounting, and Fair Value Disclosure. The company also purchased Triple Point’s interactive business intelligence module, Commodity XL Management Dashboard™ and Commodity XL PhysOps ‘Visual Cockpit’™ to help schedulers plan, conduct, and optimize shipments in real time.

Posted in: @Triple Point , Success Stories   |   Tagged  Commodity Management
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