San Francisco, USA – Geneva, Switzerland – 24th January 2022 – CTRMCloud, a cloud-native energy, carbon and commodity trading and risk management software, has been selected by Nitrofer SARL, a natural gas supplier in the Central and Eastern European area, as an ETRM software partner.
Nitrofer’s core business of sourcing, selling and trading gas and related services will be underpinned by CTRMCloud’s trading and risk management software, which will replace manual processes. By streamlining operations, Nitrofer’s positions will be aggregated, ensuring accurate supply and balancing, limiting market and operational risk.
CTRMCloud will provide Nitrofer’s connectivity to EEX and CEEGEX (part of HUPX), which will ensure immediate execution returns, enabling them to have positions and risk reports updated in real-time.
After an extensive search process, Nitrofer selected CTRMCloud not only for its system’s robustness, but also the ease of implementation.
“Speed to market was a vital factor for Nitrofer during the selection process,” commented David Fabri, Managing Director at Nitrofer. “Disruption to the business is par for the course with most implementation projects and we needed to limit disturbance to trading operations. CTRMCloud’s cloud-enabled architecture not only guarantees ease of implementation, but minimal disruption.”
CTRMCloud will be used by the team for gas and carbon for listed and OTC products, front-to-back.
Nitrofer’s Head of Portfolio Management, Gábor Hollósvölgyi, said “We spoke to several vendors and we felt that CTRMCloud understood the complex and unique needs that our business requires.”
Gabor continued, “For the user uptake to be really effective, we needed an ETRM solution that provided a positive user experience. We found that in CTRMCloud. We’re pleased that the flexible real time reporting framework will enable us to configure and design our own reports.”
Commenting on the deal, CTRMCloud’s CEO, Sulhi Akmehmet said, “CTRMCloud is thrilled to be a vital component of Nitrofer’s technology stack. We look forward to partnering with them, to optimize their risk management and making their trading operations more efficient.”
Nitrofer will go-live with CTRMCloud in February 2022. In addition to supporting the core business, CTRMCloud will also support Nitrofer’s subsidiary business, GreenGas, which supplies gas to industrial customers.
CTRMCloud™ is transforming the energy and commodity trading landscape by simplifying once-complex trading and risk management software. By offering CTRM-as-a-Service, CTRMCloud offers a subscription-based model with a cloud-native solution that is quickly and efficiently deployed, equipping organizations with real time decision support and intraday reporting across the entire commodity value-chain.
Cloud-native, customizable and extensible, it offers unmatched computation power at a fraction of the usual cost.
CTRMCloud was established in 2016, with presence in San Francisco, New York, Paris and London. To learn more, head to www.ctrmcloud.com.
About Nitrofer SARL
Nitrofer SARL is a Swiss–based natural gas trading company founded in 2012. The company and its subsidiaries are present on the main European hubs as well as on CEE markets covering natural gas wholesale and retail activities.