Rapid transaction growth required new Murex-based platform to deliver improved trading, settlement and risk processes for Europe's largest producer of renewable energy
Statkraft is Europe's largest generator of renewable energy, owning, producing and developing hydropower, wind power, gas power and district heating. The firm had used Murex software for over a decade as its ETRM platform and decided in mid-2013 to implement the latest Murex MX.3 platform.
The requirement for a new ETRM platform was identified due to a significant increase in the deals being captured and processed by the system's 170 users. Statkraft had also acknowledged the need for the ETRM platform to form part of a wider operational transformational project that would offer the scalability and systems performance to provide a foundation for future business growth. As such, the platform would manage more complex products and pricing routines, as well as new risk and collateral functions. The final implementation enables improved P&L representation and intraday-VaR calculations for Statkraft.
Sapient Global Markets collaborated with Statkraft and Murex across
operations in
"The Statkraft project was a milestone for Sapient Global Markets, being
the first Murex MX.3 migration in the global commodities world. It was
highly complex and required a collaborative effort across multiple
locations and time zones to ensure success," said
"This has been an outstanding project and is a major step forward to
support further business growth and deliver efficiency gains for
Statkraft's trading departments," commented
About Sapient Global Markets:
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a
leading provider of services to today's evolving financial and commodity
markets. We provide a full range of capabilities to help our clients
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About Statkraft:
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, gas-fired power and district heating and is a global player in energy market operations. Statkraft has 3600 employees in more than 20 countries.
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Source: Sapient Global Markets
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