Electrabel Selects Triple Point for Credit Risk Management
Triple Point continues European expansion by providing Benelux's top power company with credit risk management software
Tweet-- Triple Point Technology®, the leading global provider of multi-market commodity and enterprise risk management software solutions, announced today that Electrabel, a subsidiary of utility giant GDF SUEZ with 2007 revenues of €15.2 billion, has chosen Triple Point’s Commodity XL for Credit Risk™ to manage its energy credit risk processes including exposure, collateral and counterparty management.
Triple Point’s recent acquisition of ROME Corporation, the leading provider of commodity and energy credit risk management software solutions, enables it to offer a proven and comprehensive credit system that proactively measures, manages and mitigates the risk arising from counterparty default. ROME‘s customers represent a diverse group of global commodity and energy leaders including New York’s Independent System Operator (NYISO), E.ON, Electric Reliability Council of Texas (ERCOT), SmartestEnergy, ConocoPhillips, Southern California Edison, BG Group, Atel and FirstEnergy.
Celebrating over 100 years in business, Electrabel is a leader on the Benelux energy market, owns 17 000 MW of electricity generating capacity and supplies electricity and natural gas to more than 5.7 million customers.
“Triple Point’s initiative with Electrabel demonstrates the flexibility of Triple Point’s energy credit risk solution,” said Michael Schwartz, chief marketing officer, Triple Point. “Triple Point can offer its markets a tightly integrated market and credit risk solution or, as with Electrabel, seamlessly work alongside a competitor’s ETRM product. It’s a win-win situation for the client.”
The increasing demand for accurate, timely and comprehensive information relating to credit exposure and financial liquidity, coupled with strict regulatory mandates for additional accountability and auditability, calls for a credit risk management system that supports business transparency. Triple Point’s Commodity XL for Credit Risk provides Electrabel with a solution that effectively assists in the management of counterparty credit risk across multiple portfolios and delivers an accurate perspective of enterprise-wide credit exposure and liquidity obligations for proactive decision-making.
Commodity XL for Credit Risk proactively measures, manages and mitigates the risk arising from counterparty default and provides a full range of credit analysis and operational tools in 3 key areas: exposure, collateral and counterparty management. The software offers on-demand access to the information needed to protect a company's cash and creditworthiness and measures current and future exposure by using contractually current, accurate and legally enforceable information and not historical estimations. Commodity XL for Credit Risk simplifies the collateral management process by governing contractual and margining terms and netting formulas to automatically calculate liquidity obligations. Additional modules for credit scoring and credit analytics are available as stand-alone or integrated solutions.
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About Triple Point Technology
Triple Point Technology® is the leading global provider of multi-market commodity and enterprise risk management software solutions. Triple Point’s Commodity XL™ profitably integrates physical and financial markets on a real-time, service-oriented architecture (SOA) platform for commodities including power, oil, gas, coal, base and precious metals, agricultural products, biofuels and freight. In addition to Triple Point's award-winning commodity and energy trading software being used by more than 25 percent of both Global 500 commodity trading and Global 500 energy companies, other organizations with large raw material and energy exposure, including consumer packaged goods (CPG), discrete manufacturers and big box retailers, are quickly adopting the Triple Point solution. Named to the Deloitte Technology Fast 50 for ten straight years, Triple Point added to its record-breaking organic growth in 2008 with the acquisitions of INSSINC, the leading provider of hedge accounting and fair value level software and ROME Corporation, the industry leader in credit risk software solutions. Triple Point, headquartered in Westport, Connecticut, USA, was founded in 1993 and serves clients from nine development and support centers located around the globe. More information is available at www.tpt.com.