Danske Commodities Reaches 1 Million Power Trades in 90 Days with Allegro
Leading Pan-European Energy Trading House, Danske Commodities, Logs 1 Million Power Trades within its First 90 Days of Using Allegro’s Automated Energy Trading and Risk Management Software
LONDON, March 13, 2018: Global leader in commodity trading and risk management (CTRM) software, Allegro Development Corp., today announced that pan-European energy trading house, Danske Commodities, has had an extremely successful first 90 days on Allegro’s software to manage its full power trading value chain.
As one of Europe’s leading independent energy trading houses, Danske Commodities trades power and gas across 37 European countries and uses its market knowledge and 24-hour trading setup to support customers.
With a strong desire for increased and streamlined business process automation, Danske Commodities recently searched for a new system that would support future growth strategy and the transportation of the company’s operating model. Allegro’s software extensibility and ability to integrate with existing IT systems combined with its support of Danske Commodities’ scalability, proved to be key drivers in the initial selection process.
After a strategic and customized phase one of implementation, which entailed moving all of Danske Commodities’ power trading to Allegro’s platform, the company has reported the successful migration of 367,000 trades from its prior legacy system. Today, Danske Commodities is producing over 9,000 trades per day, with over 99% of trades captured automatically through exchanges, brokers and business tools.
Jakob Sørensen, Director, Head of Risk Management, Danske Commodities:
“We are pleased to announce that in a short 90 days after implementation of Allegro’s software, we have now captured 1 million trades in Allegro’s software. Danske Commodities has already experienced improved operational efficiency. We are excited to move the rest of our trading portfolio on to the Allegro platform.”
Michael W. Hinton, Chief Strategy and Customer Officer, Allegro Development:
“As a tier 1 CTRM system, Allegro’s platform provides necessary front, middle and back office transparency across any portfolio, which is why Danske Commodities originally chose our solution. Now with a successful first 90+ days on Allegro, Danske Commodities is poised to continue to streamline functions and analyse key data for greater control and profitability with minimal risk and disruption.”
About Danske Commodities
Danske Commodities is an international energy trading and services company founded in 2004 and based in Aarhus, Denmark. The company operates in 37 countries around Europe, creating new opportunities in every market they enter. Danske Commodities combines trading expertise, intelligent data and unparalleled Europe-wide market access, as well as provides customers with energy trading-related services such as asset management, consumption management, balancing- and risk management – often via customer-tailored products. For more information, visit http://danskecommodities.com/.
About Allegro Development, Corp.
Allegro is a global leader in commodity management software for companies who buy, sell, produce or consume commodities. For over 30 years, Allegro has delivered position visibility, risk management, comprehensive controls and regulatory compliance through a forward compatible, next-generation architecture that is built for your business. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Dubai, Houston, Jakarta, London, Singapore and Zurich, along with a global network of partners.
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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/.