Essent Trading has implemented Asset Control’s data management application to replace Essent Trading’s proprietary pricing database. Essent Trading uses the Asset Control application to centralize energy and commodity market data in a faster, scalable and extensible environment with sophisticated analytical requirements.
With Essent Trading’s growth in energy and commodities across key markets in Europe, the ability to manage increasing volumes of complex data and to perform sophisticated analysis is critical to maintaining competitive advantage. Essent Trading required an appliction that would improve performance and scalability, and accommodate future time series data needs such as volume profiles and weather data.
“Because the energy industry is highly distinct, complex and uniquely demanding, our technology requirements needed to match our specific needs,” says Leon Smits, CIO at Essent Trading. “Asset Control was the best fit for our criteria for future business functionality, performance, scalability and robustness. The software’s time-series calculations were a key factor in our decision, as was its ability to streamline data export and data access, and reduce risks by allowing a more precise view of data.”
Asset Control’s expansion tools help Essent Trading to quickly support new data feeds and prepare pricing data for risk engines, valuation, mark-to-market and position reporting, and user data checks and desktop calculations.
“Our customers appreciate our flexible and modular approach which allows them to solve today’s tactical business issues while building a data management infrastructure that enables them to be more nimble in meeting the firm’s growth and expansion plans,” says Phil Lynch, Asset Control’s president and chief executive officer. “We’re thrilled to be Essent Trading’s data management partner and look forward to working with our growing base of customers in the energy sector.”