What an exciting start to the new year! Goals and resolutions are being pursued in order to do things better or differently. At Pioneer Solutions, one goal never changes, and that’s our commitment to approach every engagement with our existing and prospective customers with one objective in mind; ensuring their success and satisfaction. We want them to know how our C/ETRM solutions will benefit their operations through increasing process efficiency, reducing cost, minimizing operational risks while maximizing business opportunities. As a true Pioneer we continuously innovate, living up to our hard-earned reputation of delivering next-generation solutions that the market demands. We do exactly that, when looking at some of this year’s applicable technology trends below. Continue reading
GDPR is the new General Data Protection Regulation from the European Union (EU) which comes into effect in May 2018.Its intention is to strengthen and unify data protection in an increasingly digitalized world for all individuals within the EU. Personal information is defined as an ‘identifiable natural person’, whether it relates to private of professional life. For example, as part of counterparty contact information, John Doe, Trader at Energy Corporation would be an identifiable person. Moreover, MiFID II reporting now includes natural person data as well. GDPR will require companies to adopt much stricter processes in dealing with customer data. How to comply with new data management practices: an integrated C/ETRM system!
We don’t need to dwell on how we are living in an increasingly competitive and fast-paced world. Conditions that put pressure on companies to change. Not just their markets, operations, and organizations but also their beliefs. Those willing to take risk, step out of their comfort zone and into the discomfort of uncertainty will be those who will reap the biggest rewards. The current playbook just doesn’t work anymore, and neither do legacy C/ETRM systems or established expectations on how to implement them. Those ageing designs do not provide the flexibility to evolve with the business, while modern C/ETRM systems are implemented in months instead of years. “So, why get out of your comfort zone and implement a Next Generation C/ETRM system? Because that’s where the magic happens!
Tags: Energy Credit Risk Management Defined, energy events, ETOT Summit
For the 9th year, Energy Trading Operations & Technology Summit (ETOT), held in London on 7-9 November, provided an opportunity to discuss best practices and solution to the most pressing challenges around operational and technology issues. Pioneer Solutions joined them as proud sponsor and as a true Pioneer staying ahead of developments in the energy market, while meeting with 180+ participants and information them how its solutions can add value to their operations.
Tags: Energy Trading, ETRM solutions, intraday market trading, intraday trading environments, legacy ETRM solutions, Mark-to-Market reporting, near-real time trading, short-term markets
The past years have seen an emergence of renewable electricity generation which caused a shift to short-term and intraday trading. Traders use the intraday market to optimize their position to reduce risks associated with unexpected imbalance prices charged by the TSOs, while others see the Intraday Market as an important tool for their portfolio management. Renewable generation is less predictable, introducing volatility, where positions may change rapidly and decisions are based on multiple information sources. To manage exposures and capitalize on opportunities, it requires a live, real-time system with automated market connections to the SPOT markets; Intraday Markets: Real Money in near Real Time!
Most market participants will not have missed the activities around upcoming changes on the regulatory and accounting side. While most are aware, are most also ready? Time is running out with the first change as soon as November 1, and significant other changes effective by January 2018. Revisions to EMIR will be up first. For those in energy and commodity trading, MIFID II Regulatory Technical Change 20 and 21 are important. MIFID II will also activate a few parts of MAR. Finally, IFRS standard 9, which industry watchers expect most companies to fully adopt, has amandatory effective date for annual periods beginning on or after 1 January 2018.
Tags: agile implementation, C/ETRM Implementations, Commodity Energy Trading and Risk Management -Etrm, configuration and development, documenting requirements, enterprise implementations, enterprise software, return on investment, software updates
Companies undertaking implementation of C/ETRM systems seek to reduce the risk of delays and exceeding budget. Actively collaborating creates a foundation for finding effective solutions and an environment where both vendor and customer have skin in the game and failure is not an option. To accommodate this process, following an iterative implementation methodology such as an Agile process is imperative. This approach provides flexibility and adaptability to changes that invariably arise during the process and is designed to deliver small “wins” that demonstrate success, project momentum and therefore a positive customer experience.
Tags: application programming interface-API, best trading back-office software, C/ETRM
As always when we enter a new year, business and technology trends are announced of what is expected to be next, that will shape the industry, and the industry may need to get ready for. What is in the cards on the technology side ranges from digital transformation, artificial intelligence, virtual reality, and 3D printing and much more. This is further influenced by world and/or market affairs that may impact the business and prompt change. While not all applicable to the commodity trading and risk management industry, let’s consider: TRENDS in 2017 that also apply to C/ETRM Continue reading
Tags: C/ETRM, energy industry, energy regulation, Energy Trading and Risk Management-ETRM, ETRM, ETRM software, Europe, Pioneer Solutions, Power, REMIT, TRMTracker
Wholesale energy markets have never been easy and when global deregulation started over 20 years ago, energy trading became more complex giving rise to information technology solutions to address the risks with energy trading: Energy Trading and Risk Management (ETRM) systems.
It was essentially the first message that the use of ETRM systems was the prudent way to help market participants manage complex risk scenarios and effectively trade and manage energy transactions from trade capture to delivery and settlement. Following several years of economic hardship due to the 2008 global financial crises, market participants now face an environment of ever-emerging rules, the effects of renewable energy and competitive pressures.
It is with an effective ETRM system that market participants can respond to three main challenges: Increasing complexity and workload, contain operating cost, and regulatory requirements.
Tags: C/ETRM, Customer Service, ETRM, ETRM software, Pioneer Solutions, service
As C/ETRM systems advance, delivering the latest technical innovations supporting commodity trading, the successful software vendor will practice what Steve Jobs so famously said: “You’ve got to start with the customer experience and work back toward the technology – not the other way around.”
With C/ETRM systems being such a substantial investment, customers can ill afford failure. Realizing their C/ETRM vision for increased efficiency, cost-effectiveness and happy productive employees, calls for a comprehensive engagement approach that ensures success and delivers a superior customer experience. Prospective customers therefore will be interested to learn from C/ETRM vendors: Is your C/ETRM solution Not Just Capturing Deals, but also the Customer?