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.
ETOT is a focused event for energy back office and IT professionals. Energy Trading Transformation was discussed as energy markets are changing, with fewer new entrances, and new ways of trading and processing. Energy trading companies must adapt to these changes, and try to make the most out of them. The decreasing liquidity of markets and regulations are putting a lot of pressure on the back office, enticing this central department to rethink and streamline process, including reporting and settlement. A large part of the changes in the industry can be traced back to technology development. Development of digital trading, new technologies such as blockchain and cloud computing, are all shaping energy trading.
Pioneer was given an opportunity to introduce itself to the audience. Represented by Hugo Stappers, he conveyed a well-received message about Pioneer’ next-generation front-to-back ETRM system, that is both highly flexible and capable of supporting various of the new operational requirements discussed at ETOT. Including built-in support for regulatory reporting, such as REMIT, EMIR, and MIFiD II. In addition, he highlighted Pioneer being an industry leader when it comes to modular back-office solutions that help automate and streamline processes around non-standard complex contract settlement, IFRS-9 hedge accounting, as well as Renewable Certificate management for both voluntary and compliance markets. Addressing the technology side, he pointed out that Pioneer’ software has been web-based from the start and therefore offers deployment options for on-premise installation or True Cloud delivery where only a browser is needed. Moreover, a Mobile App has been available since 2015. Mr. Stappers concluded his brief introduction by saying that Pioneer believe it is delivering what the markets demands: less costly solutions, proven functionality that is implemented faster with reasonable flexibility as companies’ businesses change. Pioneer’s technology is designed for reduced vendor reliance and with its successful Agile implementation approach the company helps to reduce risk and lower cost of ownership.