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ETRM System for Oil and Gas Trading & Logistics
In ProOPEC we use ETRM Oil and Gas Trading software which stands for Energy Trading and Risk Management software focus on energy commodity trading and risk management. ETRM software is used by financial trading companies, banks and physical energy companies from upstream, midstream to downstream. Core software functionality includes trade capture, trade valuations, counter party credit worthiness and limit monitoring, risk factors reporting and monitoring, trade compliance, and financial derivative accounting (Mark-to-Market) and hedge accounting. Additional functionality used by oil and gas companies usually includes products scheduling on pipelines, rail cars, vessels, storage tanks together with trade volume actualization and accounting settlement.
Due to the recent advancement in technology, so many organizations are in search of new ways to help streamline tasks, reduce operation costs, manage risk, and optimize processes. One of such technologies that have been employed by oil and gas firms to help manage risk and increase productivity is the use of ETRM systems.
ETRM system like EnHelix software designed specifically for oil and gas industry to streamline trading operations, better risk management, and maximize margins with artificial intelligence. In addition, EnHelix blockchain enables traders to automate their trader orders, get better spreads, and reduce manual paperwork significantly.
EnHelix is an integrated oil and gas software for oil and gas trading, credit, scheduling, and accounting that eliminates data hand-off between different systems and save time on reconciliations, better security, and internal controls. Besides, EnHelix new artificial intelligence solutions provide voice assistants, AI forecasting and predictions, and lots of automation.
Benefits of ETRM System
Commodity trading is volatile and unpredictable due to the changes in product prices. Energy trading also involves lots of risk due to the activities of some fraudulent traders. However, ETRM systems offer benefits that can help energy traders not to fall, victims of fraud, gain insight, and make informed decisions. Some of the benefits of ETRM software include the following:
Provides front to back-office support for energy traders
ETRM systems provide front to back-office support for energy traders, oil and gas firms, and suppliers. It covers a full range of commodities and derivatives. It also includes a market interface for scheduling, monitoring, risk reporting, collateral management, treasury management, and eliminates the manual data integration required in trading operations. Some of the back ends support provided by the ETRM system includes: deal capturing and price management, logistics and scheduling, position management, risk reporting (VaR, EaR), valuation and optimization, accounting, settlement, and regulatory reporting.
Supports Physical and Financial Trading
Commodity prices are volatile. At the same time, they constitute a significant portion of production costs. However, a comprehensive ETRM system supports physical and financial trading. It can deal with a wide variety of commodities like power, natural gas, metal, crude oil, and oil derivatives. ETRM systems, therefore, provide a complex portfolio used by energy traders, companies, and energy suppliers with significant price exposure.
Risk Management & Analytics
ETRM systems entail comprehensive risk management policies and strategies. The systems are installed to help organizations, oil and gas traders, and energy suppliers understand risks involved in the value chain and provide the best option to overcome such risk. At present, so many global firms that engage in energy trading make use of ETRM solutions to mitigate risks and maximize profit.
Cloud-Based Solutions with Deep Functionalities
ETRM systems are cloud-based solutions with multiple functionalities. They function faster in various capacities. They can also be implemented in half a time that it will take the on-premise systems to function. In addition, ETRM provides insight for business owners to make informed decisions. The systems are quite easy to use, and energy traders can make informed decisions faster.
Accurate Insight and Better Decision Making
ETRM systems analyze data from different sources in real-time. They enable traders to make accurate trading decisions while providing in-depth insights that keep oil and gas firm stay competitive and eliminate errors in aggregating and collecting data.
Increased Efficiency and Reduced cost
ETRM system also improves the efficiency and productivity of oil and gas firms. Trading companies do not have to spend a large amount of operating costs on aggregating data and other repetitive tasks. This is because ETRM systems are designed to work without manual supervision. They save organizations a lot of time and allow employees to focus on important aspects of the business. In addition, ETRM systems are highly scalable and offer greater flexibility. Those that are specifically built for oil trading enables traders to manage physical trade, derivative trade, risk, mark top maker, logistics, and planning at a time.
Better Risk Management
ETRM systems are designed to manage risk effectively. With this system, energy traders can build market-specific products based on swap, options, and physical commodities. It provides an accurate and comprehensive view of pricing and market conditions. This information helps commodity trading companies to manage risk better and make informed decisions. It also offers real-time updates on important information like risk exposure, available credit, position, and profit and loss.