Tag Archives: commodity trading & risk management-CTRM

A Soft(s) Spot? – Easy insight into certified Counterparties and their Products

Post by admin on July 24, 2017

While recognizing its importance to an efficient and effective trading process, for many trading firms it still takes a laborious and manual effort to know who their approved counterparties are, which products they can trade, and to access certification and compliance paperwork. The quality of products delivered as well as increasing food safety legislation, require proper controls to protect reputations and comply with regulatory rules. At the same time, when those controls are inefficient they will impact the business. In an age of digitalization, the successful commodity trading firms have automated this. Do you have your trading partners’ information and offering at your fingertips, or is this a Soft Spot for you?

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Between Heaven and Earth: The Cloud

Post by admin on December 5, 2016

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Cloud-based Software-as-a-Service has quickly become a compelling and credible delivery model for business applications. If you aren’t converted yet, then realize how you already take part in on-line banking, share your medical records with healthcare providers, and access your retirement investments.

All very personal information that you may think should be equally or more sensitive than the production database of commodity trading companies. Further consider how much your business relies on communicating via the internet.

On-premise installed C/ETRM software would be as equally ‘out-of-service’ as a cloud-based solution when the internet isn’t available. Therefore, for the educated trading professional looking for proven solutions that lower cost and improve operations, there is something Between Heaven and Earth: The Cloud.

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Pioneer Solutions Marks 10 Years Providing C/ETRM Software Systems

Post by admin on December 18, 2013

logonobackPioneer Solutions was originally formed to provide effective next generation software for the financial and regulatory commodity and energy markets. The nature of our company has always been commercial driven data management.

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Intro. to New Utility Enterprise Risk Management
– ERM Software

Post by admin on April 29, 2012

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The Current State of ERM Software & Introduction to the Next Generation Utility Enterprise Risk Management- ERM Software Solutions  

The interdependencies and intricacies of today’s utility enterprise risk management- ERM have never been so complex and all-encompassing. The risks for utilities fall into several related yet often disparately treated risk buckets. The main risks a utility must manage include but are not limited to market risk, credit risk, operations/operational risk and compliance risk that include many facets of compliance like Emissions, RECs and regulatory risk (FERC, NERC, EPA and more). While utilities are often thought of as risk adverse these risks are real and eminent and often managed disparately in silo systems and spreadsheets.

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Pioneer Announces Ctrm-Etrm Solution for Dodd-Frank SDR Compliance

Post by admin on September 29, 2011

Pioneer Announces Ctrm-Etrm Software Solution for Dodd-Frank Swap Data Repository -SDR Reporting Compliance   

FARRMS Architechture

DENVER, CO, September 26, 2011 – Pioneer Solutions LLC, a leading supplier of commodity energy trading and risk management- Ctrm-Etrm solutions, today announced enhancements to its comprehensive Ctrm-Etrm software suite called  “TRMTracker” offering a Dodd-Frank Swap Data Repository -SDR compliant ready Ctrm-Etrm solution.

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Part 1 “A Business Case for a New Ctrm-Etrm System”- Dodd-Frank Req.

Post by admin on September 19, 2011

Part 1 “Building a Business Case for a New Ctrm-Etrm System”- Meeting Dodd-Frank Requirments

Pioneer BannerSo you’re frustrated with or you need to make some tough decisions about your current commodity energy trading and risk management Ctrm-Etrm system and/or you’re trying to build an internal business case for a system upgrade or replacement of your C-Etrm software.

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Dodd-Frank Act Compliance & Etrm systems Section 728: Are you ready?

Post by admin on August 29, 2011

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The DoddFrank 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.

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Re-post FAS 133-157 Derivative Hedge Accounting Management Challenges

Post by admin on August 23, 2011

FASB-Financial Accounting Standards Board FASB 133, FASB 157 Derivative Hedge Accounting Compliance Management Challenges  

Pioneer BannerThe 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?

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Pioneer announces ETRM Software connectivity to Trayport GlobalVision

Post by admin on August 11, 2011

Pioneer announces ETRM Software connectivity to Trayport GlobalVision for Europe

Pioneer BannerDENVER, 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.

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Advantages of Agile, Rapid Iterative Delivery of CTRM/ETRM Solutions

Post by admin on August 10, 2011

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In today’s ever changing C/ETRM business environment, companies seeking C/ETRM software solutions must be careful to select solutions that can easily meet their requirements. Our experience with companies seeking C/ETRM software is that most clients require heavy customization to meet their unique business requirements. Most companies realize that buying off-the-shelf C/ETRM software systems at best will meet 60-80% of their needs. It is the other 20-40% of customization that clients must be aware of the costs and risks associated with delivery. In addition, companies need to carefully consider the cost of change management that can drastically increase the total cost of ownership of a C/ETRM solution over time.

There are a number of disadvantages to traditional methods of C/ETRM system software deployment, and failure to deliver is a common risk with even the most seasoned vendors. Traditional methods often lead to very long, expensive, highly disruptive implementations that fail to meet targeted business objectives. Why, because traditional, hard coded, C/ETRM technologies are often rigid in nature forcing companies to comply with the way the product manages the commodity instead of modeling the commodity the way they want to manage the asset. This often results in discontent from the users that are forced into a box. Also, the very nature of hard coded software requires lengthier and more costly delivery cycles because of the architectures inability to easily meet unique business objectives. Typically, a company’s return on investment is not realized until long after the project kicks off, if at all.

Longer implementations cause increased business disruption, and allow the project to be vulnerable to substantial expansions of scope and cost. As the project spans over a long time period, a company’s business needs often change and users will naturally have requests for additional functionality. These change requests must be added to the project scope, causing further increases in the project timeline, and higher costs of implementation.

Once implemented, change management often continues as companies business models evolve. C/ETRM solutions must be able to easily adapt to the ever changing business landscape. For example, the challenge of complying with Dodd-Frank requirements has companies, consultants and vendors positioning to meet the reporting requirements.  Change management is often overlooked in the C/ETRM evaluation process. This can lead to cost overruns for years as expensive ongoing consulting is needed just to meet basic demands.

In contrast, Pioneer Solutions’ agile rapid iterative delivery enables organizations to quickly realize their targeted business objectives at a reduced project cost and with minimal risk. The mere nature of our Financial and Regulatory Risk Management –FARRMS architecture that requires “no coding” to meet unique business requirements is ideal for a true agile delivery methodology and for maintaining ongoing change. In addition, FARRMS’ template and formula-driven architecture is ideal for companies with unique business requirements because it is easily configurable with no coding needed allowing Pioneer professional services to model our clients business the way they want to view, manage and report the portfolio.

Rapid iterations that quickly meet objectives are the goal of our project team where each iteration is limited in scope and is focused on a specific customer objective. Our targeted approach enables continuous identification and management of project risks, and increased flexibility to manage change. As an organizations complex business processes evolve, adaptations are made quickly by leveraging the easily configurable (no coding changes are necessary to conform) FARRMS architecture that empowers the business user, not IT or consultants with the ability to manage change.

Pioneer’s unique delivery culture fully engages the customer throughout the process, with every effort centered on a specific business objective. The result is reduced project cost, minimized risk, and timely delivery of quality software that is directly aligned with customer requirements. This successful approach has been noted by the C/ETRM community with Pioneer Solutions being recognized for its superior “Customer Service” two years running in an Energy Risk Independent C/ETRM vendor survey.

“Pioneer Solutions’ rapid iterative delivery process allowed us to quickly replace our existing system for sourcing transactions within time and budget” said the Project Manager of a large Utility

We encourage you to visit us at www.PioneerSolutionsGlobal.com to find more on how we are changing the way ETRM-CTRM systems are implemented and managed.

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