COMMODITY MANAGEMENT
processing; and settlement and accounting. Our flagship solution, Commodity XL™, is often chosen because its modular architecture enables companies to add new functionality as the business grows without having to bring in another vendor. Triple Point’s success is also attributed to its team, which is unequalled in its commodity management expertise. Our experts frequently author articles in numerous industry publications, conduct educational webinars, and speak at industry events.
[GI]: How do you see new legislation affecting commodity companies? Any company that’s trading in OTC derivatives will
be impacted by the numerous and interlinked pieces of US and EU legislation. For example, in Europe this includes REMIT, MAD, MiFID II, EMIR, and CRD. While many of these regulations are not yet fully baked, the general orientations are clear. Companies need to perform comprehensive audits
of their IT systems in order to identify areas where they are exposed to compliance risk under the new legislation, and address them immediately. They will need to take a very close look at their reporting capabilities to ensure compliance with regulations requiring that OTC derivative contracts and holdings be reported to trade repositories. They will also need to ensure that their IT systems can keep detailed audit trails for all trading decisions to meet strict directives related to insider trading contained in REMIT and MAD. And that’s just the tip of the iceberg. There are numerous additional requirements that demand specific IT system functionality related to documentation, integration, and other areas. It’s an understatement to say that all companies
involved in managing commodity business need a flexible, robust, and comprehensive software solution to meet the new regulatory requirements. Failure to implement the technology and processes required to ensure compliance could result in stiff penalties, criminal prosecution, and in extreme cases, the complete demise of a business. Triple Point’s software already contains functionality that is key to ensuring compliance, including configurable,
real-
time reporting and comprehensive audit trails.
Our regulatory and product experts are closely
monitoring the legislation as it continues to be fine- tuned so that we can deliver what our customers need to ensure compliance while empowering them to optimize an end-to-end commodities supply chain.
Q&A
[GI]: What were Triple Point’s highlights in 2011 and how are prospects for 2012? 2011 was a banner year for Triple Point. We
experienced significant revenue growth, with record growth in Asia Pacific where our year-over-year revenue increased 75% with the addition of new marquee customers including Bayin Resources, China National Offshore Oil Corporation, Dhanlaxmi Bank, Merit Chartering, the and State Bank of India. And of course, we further extended our APAC footprint with the acquisition of QMASTOR, which is headquartered in Australia. Triple Point also added numerous marquee customers elsewhere including American Electric Power, Kinder Morgan, Louis Dreyfus Commodities, Mercon Coffee, and Saras Oil.
“Commodity management companies need to perform comprehensive audits of their IT systems in order to identify areas where they are exposed”
Another big highlight of 2011 was being named
as a Leader in Gartner, Inc.’s 2012 Magic Quadrant for ETRM. I’m honored to say that this is the fourth consecutive year Triple Point has achieved this prestigious ranking. Gartner recognized Triple Point for several strengths including delivering an extensive range of functional coverage in all aspects of E/CTRM, having the most comprehensive credit risk management solutions, and delivering global market coverage and support. This ranking was just one of a few recognitions
Triple Point received in 2011 – others include the Commodity Business Award for Excellence in Commodity Logistics, and the International Bulk Journal IT Solutions Award. 2012 is shaping up to be a terrific year as well. We
had a very strong start with the addition of multiple new customers in Q1 including Cairn Energy, Énergie NB Power, Essential Power, Armajaro Trading, Iberdrola Generation, Koch Supply & Trading Sarl, Petrobras, and SHV Energy. •
Michael Schwartz is Chief Marketing Officer with Triple Point Technology, Inc.
Founded in 1993, Triple Point employs over 800 people in 14 offices and support centres around the globe. E:
michaels@tpt.com www.tpt.com
June 2012 45
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