Strong Market Position with a Powerful Frontend
The liberalization of the energy sector lead to the swift development of different energy trading exchanges. To strengthen and improve its market position in a sustainable manner, our customer wanted transparency on fragmented and volatile markets with their different levels of liquidity.
Initial situation and challenge
This resulted in the requirement for integrated and flexible access via an easy-to-use, functionally sophisticated frontend, which can be connected directly to multiple markets. Trading steps that are prone to errors, e.g. caused by telephone orders, or due to the diversified native GUIs of the single exchanges or manual transaction entries, were to be replaced with a holistic solution in the form of end-to-end IT support in order to increase efficiency and agility.
Solution / approach
EXXETAs consulting approach began with an analysis of the current situation. Following this, the target design was created. The need for an integrated and flexible market access via a functional and user-friendly frontend as well as optimized data provision and automated post-trade processes was covered through the installation of the EXXETA software products EXXETA Energy Trader, EXXETA Internal Market and EXXETA Market Adapter.
EXXETA was responsible for project management, the technical system installation and the ongoing maintenance and support. The solution is a high performance, low latency Java frontend based on SWING, Hibernate and Spring including various middleware connections such as JMS, XML, TibCo Rendezvous and AMQP.
During the course of the implementation, the ETRM system OpenLink Endur was connected, consulting services related to the Trayport migration were provided, and market access to EEX (Eurex, ComXerv), NasdaqOMX, Trayport TGW, ICE, CME Globex and EPEX was established.
Furthermore, EXXETA also created further special solutions, such as for the calculation of ’Value-at-Risk’ and for displaying settlement prices.
Thanks to the successful implementation of EXXETA Energy Trading products, the customer was able to reduce error rates and support requirements while increasing market transparency and making its trading activities more efficient. The customer now has the required level of transparency when it comes to comparing market instruments and prices, calculating implicit prices, highlighting arbitrage opportunities and supporting complex order types and strategies. By using EXXETA Internal Market, the customer made considerable cost savings in relation to internal data provision (e.g. portfolio management, sales) and trading within the Group. Our customer was given the ability to act as a ‘market maker’ within the energy markets.
- EXXETAs Energy Trading solutions served as a project accelerator and enabled the market access to be optimized quickly
- In addition to the implementation of energy-market-specific solutions, EXXETA also offers a wealth of consulting expertise in energy trading as well as methodical knowledge
- EXXETA offers calculable fixed prices, license models, maintenance and support as well as continuous further development of the solutions