|Page (1) of 1 - 04/26/12||email article||print page|
Koch Supply & Trading Company Chooses Triple Point's Software for Its European Natural Gas Business(April 26, 2012)
WESTPORT, CT -- (Marketwire) -- 04/26/12 -- Triple Point Technology, the leading global provider of cloud and on-premise Commodity Management software, announced today that Koch Supply & Trading Sarl has licensed Triple Point's flagship software solution, Commodity XL, for its natural gas trading, risk and scheduling activities in Europe.
Koch Supply & Trading Sarl is an indirect subsidiary of Koch Industries, Inc., which owns companies with about 67,000 employees and a presence in 60 countries.
Koch Supply & Trading required an advanced software platform to support complex physical and financial requirements of its natural gas business. After a rigorous evaluation, Koch Supply & Trading Sarl selected Commodity XL because it was the solution most capable of fulfilling the requirements of the company's European natural gas business while providing comprehensive multi-commodity functionality.
"We considered several commodity management systems, ultimately selecting Commodity XL as the best choice for Koch Supply & Trading's needs," said Rob Short, CIO. "Commodity XL is a comprehensive multi-commodity platform backed by Triple Point's very strong team. After analysis we are most confident that we can be successful with Commodity XL."
Seventy percent of the world's top trading organizations rely on Triple Point solutions to effectively manage commodities and enterprise risk. According to Reuters, the top commodity traders are Vitol Group, Glencore International AG, Cargill Inc., Koch Industries, ADM, Gunvor International, Trafigura, Mercuria, Noble Group and Louis Dreyfus.
"Commodity XL is the Commodity Management solution of choice among trading companies seeking a sophisticated, comprehensive solution for managing price volatility and market complexity," said Wah Chu, chief customer officer, Triple Point. "We're honored to add a customer of Koch Supply & Trading Sarl's stature to our growing client base."
Commodity XL is the only commodity trading and risk management solution that works across multiple commodities in real-time from the front- through to the back-office. It empowers companies to achieve balance between profitable trading, marketing, scheduling, logistics, risk management policies and accounting regulations in today's volatile and complex environment.
About Triple Point Technology
Triple Point Technology® is the leading global provider of cloud and on-premise Commodity Management software that delivers advanced analytics to optimize end-to-end commodity and energy value chains. The company provides real-time, innovative solutions to competitively address the complex and volatile commodities supply chain: buying, selling, trading, and procurement; enterprise risk management; scheduling and logistics; storage; processing; and settlement and accounting.
Triple Point's Commodity Management platform enables over 400 customers in 35+ countries to profitably manage exposure to energy and raw materials across industries, including energy, metals, minerals, agriculture, transportation, shipping, consumer products (CP), industrial manufacturers, and big box retailers. Triple Point was named a "Leader" in Gartner's ETRM Magic Quadrant for its completeness of vision and ability to execute in 2009, 2010, 2011, and 2012. Founded in 1993, the company employs over 800 staff in 14 offices and support centers around the globe. www.tpt.com.
Email: Email Contact
Copyright @ Marketwire
Related Keywords: enterprise risk management software, trading and risk management software, gas trading software, Marketwire, Inc., ,Financial,Shipping,Business,