Cosmo Oil selects ION Commodities’ Allegro CTRM solution
Tokyo-based refiner chooses ION Allegro CTRM software to automate the trading lifecycle from the front office to the back office
Cosmo Oil’s selection was based on ION’s experience in Asia-Pacific and proven success delivering solutions to the Japanese energy markets
Singapore, 30 MARCH 2021 — ION, the largest global provider of trading, analytics, treasury, and risk management solutions for commodities and treasury management, announced that Cosmo Oil has selected ION Allegro to manage its crude oil trading, and the export and shipping operations for its refined products. Allegro was selected for its extensive trading, risk, and value chain management capabilities, backed by ION’s proven experience and success delivering solutions to the Japanese energy markets.
Based in Tokyo, Cosmo Oil is Japan’s third largest refiner, engaging in the development, export, refinement, and sale of crude oil and petroleum products.
By linking all physical, freight, and derivative transactions, the Allegro CTRM provides a single source of truth for trading, shipping, and supply chain activity across the enterprise. Allegro provides Cosmo Oil with a foundation that allows its front, middle, back-office, and operations team members to work together across multiple locations to monitor P&L and risk while achieving higher levels of efficiency and accuracy.
“We’re delighted to be at the forefront of providing solutions to the Japanese energy markets, bringing data-driven analytics to refiners and petrochemical companies like Cosmo Oil, to help better manage their position, visibility, risk, control, and regulatory compliance on one platform,” said Rich Grossi, ION Corporates Chief Executive Officer.
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About ION Group
ION Group provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.
About ION Commodities
ION Commodities delivers data-driven energy and commodities trading and risk management solutions across the supply chain. Our scalable ETRM and CTRM solutions equip clients to use real-time risk analytics and reporting, minimize supply chain risks, automate critical business processes, and make faster, more informed decisions. We provide full support and transparency for procurement, supply, and trading to a global community of over 1,200 clients. For more information, visit https://iongroup.com/commodities/.