DALLAS--()--Allegro Development Corporation (“Allegro”), a leading provider of energy trading and risk management (ETRM) software, announced today that The Linde Group (“Linde”), a world-leading gases and engineering company, has selected the Allegro 8 platform to manage its worldwide energy hedging activities.
“Allegro 8 offers the strong functional support for position consolidation across all of our procurement locations and enables a firm basis for effective risk management, reporting and accounting processes.”
Linde required a fully integrated system to support the company’s strategic plan of streamlining and optimizing business processes related to the global procurement of electricity, natural gas and emissions certificates, including deal capture, settlement and accounting, risk management, global position reporting as well as hedge accounting.
“Our main objective was to find a system that would support our energy portfolio management with an international perspective, improve global position management and risk reporting, and also automate complex business processes like hedge accounting,” said Roland Pahl, Global Commodity Director for Energy & Feedstock at The Linde Group. “Allegro 8 offers the strong functional support for position consolidation across all of our procurement locations and enables a firm basis for effective risk management, reporting and accounting processes.”
Allegro will help Linde meet its business goals, including:
- Ability to quickly and accurately capture power, natural gas and emissions trades and to manage those trades, including complex pricing, confirmations and settlement;
- Consolidation of all energy hedge positions and related risks in one consistent basis;
- Optimal decision making with timely and consolidated Mark-to-Market (MtM), Profit & Loss (P&L), P&L attribution and market exposure reporting;
- Ability to mitigate credit risk with collateral management, counterparty exposure monitoring and advanced credit analytics;
- Simplified and automated compliance with regulatory reporting requirements, such as hedge accounting under IAS39;
- System-based implementation of audit proof and risk policy compliant processes in energy portfolio management;
- Security and access controls with the ability to set position limits, create role-based user profiling and maintain audit trails; and
- Extensibility to support integration and future software projects.
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 28 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. www.allegrodev.com
About The Linde Group
The Linde Group is a world-leading gases and engineering company with approximately 62,000 employees in more than 100 countries worldwide. In the 2011 financial year, Linde generated revenue of EUR 13.787 bn. The strategy of the Linde Group is geared towards long-term profitable growth and a focus on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. The Linde Group is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at http://www.linde.com.