DANSKE COMMODITIES SELECTS ALLEGRO AS PLATFORM FOR COMMODITY TRADING AND RISK MANAGEMENT
To support future growth strategy and the transformation of the company’s operating model, Danske Commodities decided to invest in a leading commodity management platform.
LONDON, Feb. 17, 2016 – Allegro Development Corp. today announced that pan-European energy trading house Danske Commodities has selected the Allegro trading and risk management platform for its 33-country trading operation.
Founded in 2004, the company began as a cross-border entity trading electricity between Germany and Denmark. Having started out trading the day-ahead power market, Danske Commodities moved into intraday power trading in 2007, adding gas trading and wholesale services in 2009. The company is specialised in short-term trading and optimisation of physical energy assets.
To support future growth strategy and the transformation of the company’s operating model, Danske Commodities decided to invest in a leading commodity management platform. The scalability, extensibility and flexibility of Allegro to integrate with existing IT systems was key to the selection process.
The Allegro platform will provide the following benefits to Danske Commodities:
-Managing all energy trading activities in an easy to use, integrated application
-Active, real-time monitoring of operational and market risks in a structured manner
-Responding quickly to new business opportunities to add new products and markets
-Streamlined risk reporting procedures with a single source of data
-Easy integration with either existing or new data sources
“We put Allegro through its paces during an intense selection process and were impressed with the system’s flexibility, on top of its full suite of capabilities,” said Martin Skovgaard Hansen, Head of Business Operations & Risk Management at Danske Commodities. “By investing in a solution like Allegro, we are improving the operational efficiency in our trading operations and strengthening our risk management and control framework.”
Danske Commodities now operates in 33 countries, trading electrical power, gas and climate certificates on exchanges, OTC, and physical as well as financial products, bilaterally along the entire curve from intraday to long term.
About Danske Commodities
Danske Commodities is an international energy trading and services company founded in 2004 and based in Aarhus, Denmark. We operate in 33 countries around Europe, creating new opportunities in every market we enter. We combine trading expertise, intelligent data and unparalleled Europe-wide market access, and we provide 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/
Allegro is a leading provider of commodity management software for power and gas utilities; refiners, producers and traders of crude oil, refined products, soft commodities and ags; and industrial energy consumers. With more than 30 years of industry expertise, Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Dubai, Houston, London, Singapore, Zurich and Jakarta along with a global network of partners. Visit www.allegrodev.com.