Allegro Launches Strategic Partnership with DHC in China
Chinese No. 1 Listed IT Solutions Provider to Facilitate Allegro Expansion in Chinese Market
SINGAPORE, November 17, 2014 – Allegro Development Corporation, a leading provider of commodity risk management software, announced today a strategic partnership with DHC Software Co., Ltd., one of the leading software solutions providers and the No.1 listed IT company in China. DHC provides software development, computer information system integration and internet security products to the Chinese market. Their technology is recognized as one of the top 10 self-developed software products in China. With rapid growth over the past 13 years, DHC has more than 30 branches and 6,500 employees in China. DHC has served customers in various industries, including telecom, utilities, government, transportation, defense, pharmaceutical, finance, scientific research, coal, petrochemical, petroleum, insurance and manufacturing.
Allegro and DHC have partnered to collaborate and provide superior commodity trading solutions and consultancy services to the Chinese market to support energy companies to better manage their trading exposure. Xue Xiangdong, the President of DHC quoted ‘Be creative to achieve a win-win situation and profit together’.
According to Bloomberg’s report in May 2014, commodities derivatives trading jumped 23 percent last year, led by the U.S. and China. Commodities derivatives trading rose to 4 billion contracts in 2013, from 3.24 billion a year earlier, as volumes were boosted by transfers of cleared over-the-counter energy swaps to futures by the InterContinental Exchange and the “continuing sharp increase” in volume at exchanges in mainland China. The U.S. and mainland China accounted for 79 percent of global commodity derivatives volumes.
”Allegro and DHC will provide solutions supporting customers’ trading, risk management and logistics optimisation initiatives allowing them to keep pace with the evolving energy and commodities markets and rising demand in China, whilst at the same time remaining competitive, profitable and maintaining high standards of governance,” said Mark Weaser, Allegro Managing Director for Asia Pacific.” Our joint offering brings a new dimension of capability to Chinese energy and commodity trading markets, and we’re excited about working together.”
Allegro develops and markets integrated commodity management software providing position visibility, risk management, comprehensive controls and regulatory compliance. Allegro customers manage commodities from production to consumption, including oil and gas production, petroleum refining, agriculture and forestry, mining, chemicals, metals, food, transportation, commercial and utility sectors. Allegro software is tailored to the specific needs of each commodity, with a comprehensive set of features and functions to support profitable decisions. Allegro is headquartered in Dallas, with offices in Calgary, Dubai, Houston, Jakarta, London, Kuala Lumpur, Singapore, Sydney and Zurich.
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