Tags: application programming interface-API, Ctrm requirements, Emis system, ETRM software, Etrm software implementation pitfalls, Joint application development, Trading Risk Blog
Re-posted-Next Top ten (6-10+) reasons Etrm-Ctrm & Emis system implementations fail!
The following depicts the Front-mid-to back-office complexities associated with delivering comprehensive Ctrm-Etrm & Emis solutions…so how can you avoid a failure in delivering this often complex business software:
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Tags: commodity trading & risk management-CTRM, Dodd-Frank Act, Dodd-Frank Compliance, ETRM, ETRM Integration, ETRM software, OTC compliance reporting, section 728 dodd-frank, swap data repositoryETRM SDR compliance
The Dodd–Frank Wall Street Reform and Consumer Protection Act, mostly referenced as the “Dodd-Frank Act”represents the most comprehensive financial regulatory reform measures taken in decades. Major elements of Dodd-Frank Act mainly section 728 impose detailed, regulatory compliance regimines directed at over-the-counter derivative market participants and the reporting of those activities to a swap data repository or SDR. Participants in OTC transactions, large or small will be subject to this proposed real-time reporting compliance to SDR’s. So what are the issues associated with being compliant ready? Currently, registration as a participant in swaps will need to be submitted to the CFTC or swap data repository- SDR by October 31, 2011. The date that actual SDR reporting will commence is still unknown however the time to prepare is now and there are some important steps that organizations can do to prepare.
Tags: Carbon Accounting, Carbon Emissions Accounting, carbon footprint, EMIS, Emis Software, Emis system
The Evolution of Carbon Emissions Accounting and Emis Software Solutions- By Uday Baral, principal Pioneer Solutions LLC
In retrospect, the objective of carbon accounting has been geared towards one of two things: being eco-friendly and environmentally compliant. Today, the facts are that environmental compliance is expected, and publishing a carbon footprint is meaningless without an active plan to manage and reduce the carbon footprint. So what is the objective of carbon management and accounting, both now and in the future?
Tags: derivative hedge accounting software, Energy Trading and Risk Management-ETRM, FAS 133, FAS Software, hedge accounting software, Hedging strategy
Global derivative hedge accounting standards, whether it is FAS133, IAS39 or AASB 139, mandate concrete documentation for managing hedges along with the proper accounting treatments for hedge designation and de-designations. In general, a front-office may be responsible with tagging the derivative for derivative hedge accounting compliance scope, for example as “Normal Purchase- Normal Sales” (NPNS)/”Own Use”, Hedging Instrument or MTM. Front-office will have to rely on position limits that are fed from risk management or other applicable groups within the organization to maintain the proper hedging scope. In most cases this approach requires further maintenance of the designations in the form of scrutiny and/or corrective action by the group that is ultimately responsible for the derivative hedge accounting process. Problems can occur when the front-office may or may not necessarily know a designation has changed and may not have the most up to date information on the trade hedges in order to assign a proper hedge accounting designation.
Tags: ASP ETRM software, CTRM SaaS software, Energy Trading and Risk Management-ETRM, SaaS Defined, SaS ETRM software
Everything You Need to Know About Software as a Service (SaaS)
When selecting a C/ETRM solution for an organization, technical language barriers and a multitude of options often lead executives to assign the selection responsibility to their IT department. This often results in a selection that fails to take in to consideration the needs and desires of the majority of the system’s users. In this article, Pioneer Solutions explains Software as a Service, SaaS, in order to help non-technical individuals understand more about C/ETRM software and ultimately, help guide them in selecting a system that more closely mirrors the needs of their organization. Continue reading
Tags: CTRM, ETRM, etrm implementation, General Ledger Integration, SAP Integration, Trading Risk Blog
In this technological age any sizable organization would expect their commodity energy trading & risk management – Ctrm- Etrm system to easily integrate with ERP systems like SAP to realize a return on their investment -ROI. Most Ctrm-Etrm vendors tout solutions that easily integrate with ERP and General Ledger solutions as part of their value proposition. The reality is that this is not the case and this is an area that anyone embarking on Ctrm-Etrm integration with an ERP system should seriously consider the challenges associated with the integration.
Tags: aasb 139, CTRM, derivative hedge accounting software, EMIS, Energy Risk, ETRM software, FAS Software, hedge accounting software, Pioneer Solutions, Risk management software, Trading Risk Blog
Top five (5) of ten (10) reasons that energy (commodity) trading and risk management -ETRM –CTRM and Emissions Management Information System -EMIS solution implementation projects fail and how to avoid the pitfalls.
1. Hard coded software rarely meets requirements; 80% is the avgerage fit to requirements requiring 20% (minimum) customization. This should not be a surprise to those that have been around software etrm implementations. Rarely does software meet 100% of requirements. One of the big reasons for this is that everyone in the energy trading and risk management space does business differently and likes to look at it differently. The key is to manage the 20%. To avoid rouge projects insist on a fixed price for the implementation, if that cannot be accomplished an iterative approach, where payment is made at the end of delivered iterations, should help ease risks. Also look for new technologies that are easily configurable (no coding needed) versus customizable (requiring coding expertise).
Tags: commodity trading & risk management-CTRM, derivative hedge accounting software, FAS 133, FAS Software, FASB 157-133, hedge accounting software, Hedging strategy
FASB-Financial Accounting Standards Board FASB 133, FASB 157 Derivative Hedge Accounting Compliance Management Challenges
The Challenges of Managing FAS 133 & FAS 157 Compliance
FASB-Financial Accounting Standards Board FASB 133, FASB 157 -FAS for short, accounting compliance can be a dauting task, couple it with the complexity of managing hedges in compliance as they change and the process of derivative hedge accounting can quickly become an extremely complex business process to manage. Many companies in the commodity and energy trading and risk management C-ETRM hedging business attempt to manage the process on spreadsheets; however this can quickly become unmanageable and an audit nightmare as the amount of transactions and their intricate interrelationships can overburden those ultimately in charge of FAS compliance. This is more complicated by the fact that the designation and de-designation of hedges often change throughout a trade’s life-cycle making compliance of FAS 133 and 157 a challenge to maintain and an audit review’s target. So what can be done to improve this important compliance function and are there derivative hedge accounting software products out their that are designed to manage and automate this important, challenging business task?
Tags: Energy Trading and Risk Management-ETRM, ETRM Integration, middleware ETRM software, SAS Risk management software
Advanced, all web-based open architectures support rapid deployment of Commodity- Energy Trading and Risk Management C-ETRM implementations
In today’s technologically advanced business environment C-ETRM solutions must easily fit into extremely complex and unique IT environments. In our experience we are seeing more niche needs for module or “ala carte” features and functionality being sought; from the request for just a risk engine to requests for deal capture only to attacheable modules or enhancement of to existing C-ETRM for example derivative hedge accounting system modules.
Tags: commodity trading & risk management-CTRM, ETRM software, Front-office ETRM-CTRM. Front-office definition, Risk management software, Trayport GlobalVision
Pioneer announces ETRM Software connectivity to Trayport GlobalVision for Europe
DENVER, CO, July 18 2011 – Pioneer Solutions LLC, a regulatory compliance and risk management software provider and leading supplier of energy trading and risk management (ETRM) solutions, today announced that its ETRM software TRMTracker interfaces with Trayport’s GlobalVision Trading Gateway. The GlobalVision application provides customers with automated trade capture for European energy exchanges and major energy brokerages. The interface will provide a complete capture of trade details into Pioneer Solutions TRMTracker (ETRM) solution in real-time, giving customer’s enhanced visibility across their portfolio, improved efficiency and a minimized error rate.