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Leverage eRR for Seamless EMIR and REMIT Reporting

With evolving standards like European Market Infrastructure Regulation [EMIR] and Regulation on Wholesale Energy Market Integrity and Transparency [REMIT], market participants require robust reporting mechanisms that ensure adherence to regulatory guidelines while optimizing operational efficiency. Our comprehensive solution is through the implementation of eRR (Regulatory Reporting) within Endur—a practical approach designed to streamline reporting processes and mitigate compliance risks effectively.

eRR's capabilities for Regulatory Reporting

eRR serves as a unified platform for regulatory reporting, consolidating the complexities of reporting transactions under EMIR and REMIT into a single CpML message format. This approach not only reduces operational complexity but also ensures consistency across reporting regimes. With standard filtering criteria and comprehensive transaction reporting capabilities, eRR enables market participants to identify relevant trades and report various transaction types throughout their lifecycle accurately.

This blog delves into the key features and practical implementation of eRR within the Endur, offering insights into how these capabilities can be leveraged for efficient and accurate reporting.

Simplifies reporting by allowing market participants to use a single CpML message for EMIR and REMIT transactions, with support for ACER XML format for REMIT-specific reporting.

Ensures compliance by filtering only relevant trades, covering instruments like OTC swaps, physical forwards, and options.

Supports all transaction types, including new trades, modifications, and lifecycle events, ensuring accurate reporting.

Enhances incoming messages with necessary data, handles UTI generation, and maps CpML fields for regulatory compliance.

Automates the reporting workflow, reducing errors and offering flexibility independent of specific trade repositories.

Facilitates delegated reporting for agents, allowing them to report on behalf of counterparties.

Adheres to ESMA and ACER standards, ensuring up-to-date compliance.

Designed to scale and adapt, supporting multiple reporting formats and protocols for seamless integration.

eRR’s approach to Lifecycle Event Reporting Capabilities

Lifecycle event reporting is a critical aspect of regulatory compliance, and eRR’s approach is designed to ensure that all relevant events are captured and reported accurately.

eRR manages the reporting of cleared transactions under EMIR and REMIT, ensuring that all interactions with trade repositories and databases are handled efficiently.

eRR requires maintaining detailed reference data, including LEI (Legal Entity Identifier) information, for all parties involved in transactions.

UTIs and UPIs are managed through data exchange between counterparties and clearing brokers, ensuring accurate lifecycle event reporting.

Lifecycle events affecting transaction positions are included in daily position reports, providing a comprehensive overview of positions.

eRR supports the delegation of reporting duties to agents, who can report lifecycle events on behalf of one or both counterparties.

Implementation of eRR in Endur: A Detailed Overview

Practical Implementation of eRR in Endur

CpML
Mapping

Mapping is managed within Endur using a mix of Regulatory Reporting Jurisdiction, SDR Jurisdiction Defaults tables and custom user-tables. Users have an ability to modify all three data universes leveraging custom user-data-worksheets.

Reporting a Transaction

The required reporting data can be inserted in the “reporting tab” of the trade/deal during booking. Operation Services are created to automatically report required trade changes to Trade Repository. Ad Hoc reporting is also made feasible through the Report Manager, which can generate the necessary object (CSV or FpML) for submission.

Connex
Gateway

Endur’s Connex Gateway connects with the respective reporting institutions, pulling up templates mapped to products and populating them with the appropriate trade data.

Tran Info Fields

These fields are configured to support regulatory and other reporting needs, ensuring that all relevant data is captured.

Confirmation

Various panels in Endur, such as the Auxiliary Panel, Confirmation Panel, and Execution Panel, are configured to complete user-experience necessary for the confirmation, execution, and auxiliary operations of a trade.

Operation Services

Endur provides functionalities to configure customized processes to run before and after operations, ensuring compliance with specific regulatory requirements.

eRR's capabilities for Regulatory Reporting

The eRR process, with its comprehensive capabilities, provides a powerful solution for regulatory reporting. Whether through a unified reporting mechanism, automated processes, or the flexibility to scale with organizational needs, eRR ensures that market participants can meet their regulatory obligations efficiently and effectively.

By partnering with Value Creed to implement eRR within Endur, these capabilities are further enhanced, creating a robust framework for managing the complexities of regulatory reporting under EMIR and REMIT. Value Creed’s deep expertise ensures a seamless, scalable solution tailored to your organization’s specific needs.
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Upgrades in Dynamic Markets: Solutions for Liquids Trading

Explore the benefits of upgrading to the latest version of RightAngle with our in-depth analysis of new features, improvements, and bug fixes. This blog highlights major enhancements, evaluates their functional and technical impacts, and showcases how our expertise can guide you through the decision-making process.

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Accounting

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Fuel & Aviation Highlights

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Scheduling & Inventory

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Discover how our innovative solutions can help you achieve your goals. Explore our solution page now to learn more about what we offer.

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Why Choose Value Creed for Your Upgrade?

Value Creed’s commitment to excellence and client satisfaction, coupled with our extensive expertise and track record, make us the ideal partner for ensuring a successful transition. Our key differentiators include:

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Project
Accelerators

Tools like Testing Automation & FinOps enable a quicker, error-free upgrade with minimal disruption.

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Defined Upgrade Framework

A structured roadmap for upgrade assessment ensures smooth transition and effective resource utilization.

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Expertise and Experience

Experienced with diverse upgrades, we ensure a successful upgrade tailored to your needs.

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Cost Effectiveness and Certainty

With fixed-price models and a commitment to delivering value, we provide transparency throughout the engagement.

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Minimized Business Disruption

By minimizing business involvement, we ensure a seamless upgrade process, continuity, and reduced downtime for your operations.

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Full-Service Consulting

We identify cutting-edge platforms for enhanced performance, providing comprehensive support from strategy to implementation.

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SUCCESS STORIES WITH VALUE CREED’S UPGRADE SERVICES

This case study highlights how an energy company achieved a Swift upgrade in three months with Value Creed’s upgrade services:

  • Comprehensive Testing: Ensuring the highest quality standards with testing cycles at every stage
  • 3 – Month Delivery: Ensuring continuous transparency of the project’s progress with a focused 15-day sprint
  • Smooth Transition: Curated user training plan from subject matter experts along with hyper-care support
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 Key Enhancements: Impact and Insights

S23 Significant Enhancements & Impact: What They Mean for You

Functional Impact

The new mass features in S23 enhance system precision by capturing data in both volume and mass metrics across inventory, movements, invoices, and risk assessments. This update requires thorough configuration and testing for seamless integration. Custom reports may need adjustments. Some users may need help with using volumetric units, necessitating specific configurations. Value Creed offers expertise to help clients navigate these changes, ensuring smooth transitions and tailored solutions for both mass and volumetric calculations.

Technical Impact

S23 upgrades involve significant system modifications, including database schema and API updates for dual quantity handling, improved inventory management, and enhanced risk management reporting. Performance is boosted through optimized data processing and scalability testing. Value Creed ensures precise system configurations and seamless transitions. Our structured methodology, including continuous business engagement and user training, supports efficient operations and maximizes upgrade benefits.

KEY ENHANCEMENTS

  • Dual Quantity Type Handling and Risk Management: Separate mass and volume fields across Valuation, Inventory, Accounting, and Risk domains to eliminate conversion needs and enhance precision. Introduced new reporting columns to handle mass-based and volume-based calculations separately.
  • Movement, Scheduling, and Inventory Management: Enhanced storage and display of mass and volume data in movement documents for better tracking and reporting. Improved inventory reconciliation and tank level capturing to support both mass and volume units as preferred.
  • Advanced Valuation, Accounting, and Provisions Management: Separate handling of volume and mass in valuation with detailed accounting reports incorporating mass and specific gravity. Latest provisions for mass calculations and tiered pricing structures based on mass quantities.
  • Data Integrity: Capability to handle forecasts in both mass and volume, enhancing flexibility and accuracy in forecast maintenance and Inventory workbench. Locking of specific fields post-transaction and recommendations for base unit settings to ensure data integrity and minimize rounding issues.
  • Transition and Custom Reporting: Comprehensive support for transitioning existing data to new structures for mass and volume, ensuring historical data integrity and continuity. Updated report adjustments and conversion strategies to align with new dual UOM handling capabilities.

Functional Impact

The streamlined movement and scheduling tools enhance scheduling efficiency by simplifying data staging and importing, reducing manual effort, and minimizing errors. The enhanced precision in the Inventory Workbench with real numbers improves accuracy in inventory tracking and management, facilitating better decision-making. The new Projected Inventory Reports offer valuable insights for long-term planning, enabling more informed inventory management strategies.

Technical Impact

These enhancements require updates to data import tools to support streamlined movement processes and improved precision in inventory tracking. Additionally, enhancements are needed in inventory reporting systems to accommodate the new Projected Inventory Reports, ensuring accurate and efficient projection functionalities.

KEY ENHANCEMENTS

  • Movement and Scheduling: Enhanced data staging and importing tools streamline movement processes, improving efficiency.
  • Inventory Workbench:  Precision is improved with real numbers displayed up to 6 decimal places, enhancing accuracy in inventory management.
  • Projected Inventory Reports: Introduction of new reports for volume and mass projections provides long-term planning insights. These reports now incorporate data on mixed and blended products imported through JSON files, enhancing their accuracy.

Functional Impact

Precision of financial operations by providing more detailed payment terms, streamlining cash management through the treatment of negative value invoices, and ensuring compliance with tax regulations via enhanced tracking and reporting capabilities. Additionally, they improve the visibility and management of receivables and tax compliance measures. 

Technical Impact

Implementation necessitates updates to accounting modules to seamlessly integrate event-based payment terms, negative value invoice handling, and tax license tracking functionalities. Adjustments to data structures and reporting systems are required to accommodate these changes effectively, including enhancements to support streamlined cash management processes and improved reporting capabilities.

KEY ENHANCEMENTS

  • Event-Based Payment Terms: Enhanced accuracy is achieved by introducing event-based payment terms at the Deal Header level.
  • Negative Value Invoices: This feature, accessible via the Cash Management Control panel, allows for better handling of negative value invoices by displaying them in the Search Open Receivables and Search Receivable Aging reports in the Cash Application.
  • Tax License Expiration Report: The report now includes the actual expiration date and the number of days until the expiration date of Tax Licenses, improving tracking and compliance measures.

Functional Impact

Introducing auditing capabilities for the Security Manager in S23 enhances transparency and accountability in system security management. Entity Auditing provides visibility into alterations, aiding in detecting and preventing unauthorized access. Configurable settings ensure compliance with regulatory standards, promoting data security.

Technical Impact

Implementing auditing necessitates system architecture modifications for effective tracking. Entity Auditing requires adjustments to the database schema and user interface. Configuring settings involves updates to configuration modules. Service Monitors, requiring additional licensing, may need infrastructure adjustments.

KEY ENHANCEMENTS

  • Security Manager: Starting from S23, changes made in the Security Manager can be audited. Entity Auditing provides visibility into security manager alterations. Configurable auditing settings ensure adherence to regulatory standards. Visibility into security alterations helps detect and prevent unauthorized access.
  • Service Monitors: Requires additional licensing and provides detailed status reports.

From S23 to S24: Ongoing Enhancements and Their Impact

Functional Impact

The new mass features in S23 enhance system precision by capturing data in both volume and mass metrics across inventory, movements, invoices, and risk assessments. This update requires thorough configuration and testing for seamless integration. Custom reports may need adjustments. Some users may need help with using volumetric units, necessitating specific configurations. Value Creed offers expertise to help clients navigate these changes, ensuring smooth transitions and tailored solutions for both mass and volumetric calculations.

Technical Impact

S23 upgrades involve significant system modifications, including database schema and API updates for dual quantity handling, improved inventory management, and enhanced risk management reporting. Performance is boosted through optimized data processing and scalability testing. Value Creed ensures precise system configurations and seamless transitions. Our structured methodology, including continuous business engagement and user training, supports efficient operations and maximizes upgrade benefits.

KEY ENHANCEMENTS

  • Reports related to the Fuel Center have been relocated to core RightAngle within a new Aviation folder.
  • Additional functionalities, such as Aircraft Maintenance and Aircraft Type Maintenance, have been added to the Aviation folders.

Functional Impact

The upgrades result in an improved user interface and integration capabilities, facilitating seamless interaction with custom APIs and third-party systems. Additionally, security management is strengthened, ensuring enhanced protection of sensitive data. Our team analyzes service monitor threads, optimizes licensing costs, and provides the right systems and configurations are chosen for each upgrade.

Technical Impact

Significant updates are required across the system architecture to accommodate the upgrades, including codebase adjustments for seamless integration with DevExpress controls and thorough testing for the new API framework. Careful planning is essential to maintain stability while incorporating these new features. Value Creed provides comprehensive support in configuring security settings, optimizing system performance, and ensuring seamless integration of new frameworks.

KEY ENHANCEMENTS

  • Operating System Upgrades: Starting from S23, the Windows Server 2016 version will no longer be supported and the upgrade to Windows Server 2019 or 2022 is mandatory.
  • SQL Upgrades: SQL Server 2019 and 2022 are compatible with S23 and S24 versions, any older version would need an upgrade.
  • Technical Upgrades: In addition to replacing UI components with DevExpress controls, the system now supports Secure SMTP for email communications, enhancing security in email transmissions. Furthermore, it connects to WCF services using HTTP for further security measures. This integration framework for custom APIs ensures enhanced security features across the platform.
  • There could be additional costs associated with the upgrades of the OS, SQL Servers, IIS, .net frameworks, MS 365, and Dev Express.

S24 Significant Enhancements & Impact: What They Mean for You

Functional Impact

Increased flexibility in adjusting units of measure for inventory groups, comprehensive support for all valuation methods to enhance inventory reporting, and the ability to reset inventory balances in both volume and mass for precise control. Furthermore, improvements in managing mass units of measure (UOMs) within key processes like the Order Actualization Tool, Quantity Caps, and Over/Under Lifting processes streamline operations. 

Technical Impact

Minor adjustments are made to further enhance the existing dual quantity handling capabilities introduced in S23. These adjustments involve refining data processing algorithms, optimizing database queries, and fine-tuning system configurations to ensure seamless handling of mass and volume separately downstream. Additionally, improvements are made to API endpoints and data validation routines to accommodate the updated handling requirements.

KEY ENHANCEMENTS

  • Enhanced Mass and Volume Handling: Continued improvements in handling mass and volume separately downstream.

Functional Impact

Improve valuation accuracy and reporting for blended products, enhancing financial precision and compliance. The capability to finalize reconciliation within specified tolerances streamlines inventory management, minimizing manual tasks and ensuring seamless transitions between accounting periods. 

Technical Impact

Adjustments to WACOG calculation algorithms and reporting systems for blended products. Similarly, reconciliation processes require modification to support finishing within specified tolerances, including updates to tolerance settings and data validation routines. Implementing Automatcher Rule Maintenance necessitates customizing validation options. Integrating Write to Zero functionality entails enhancing data processing and validation mechanisms.

KEY ENHANCEMENTS

  • Automatcher Rule Maintenance: Starting with S24, clients can choose whether to use the core RightAngle validation for duplicate Automatcher rules, which checks for the same Lifting Number, Location, Rule Detail type, and overlapping date ranges. Uncheck “Validate Automatcher Rule Uniqueness” in the Scheduling Control Panel to allow duplicates or apply custom validation.
  • Finish Recon Tolerance: The system now allows reconciliation to be completed within specified tolerances for inventory recon groups, facilitating better inventory management and simplifying the process of rolling recon groups to the next accounting period.
  • WACOG for Blended Products: Improved functionality in Monthly and Daily Weighted Average Cost of Goods (WACOG) by Contract and related reports now accommodate blended products more effectively.
  • Write to Zero Functionality: Available on Inventory Subledger Balance Maintenance, allows users to reset inventory balances to zero directly within the system.

Functional Impact

The introduction of the MTI Maintenance report and streamlined user interface on risk reports simplifies MTI entry assignment, enhancing overall operational efficiency. Value Creed’s support ensures clients can fully utilize these enhancements, increasing accuracy in P/L calculations, improving performance measurement, and enhancing strategic decision-making, ensuring a seamless transition to the upgraded system capabilities.

Technical Impact

Modifying database schemas, enhancing user interfaces, and integrating backend logic for MTI management. Implementing security measures for data protection and access control ensures seamless integration and efficient operation of the new MTI functionalities across the system. Our team provides comprehensive support, including system configuration, assigning levels of authorizations for making MTI changes, user training, and ongoing maintenance to ensure accurate market price management.

KEY ENHANCEMENTS

  • New MTI Report: Redesigned functionality allows manual selection of market information for position valuation. Introduction of a new MTI Maintenance report enables creation, maintenance, and updating of separate MTI entries. Users can assign MTI entries to trades and inventories, tracking value against intended markets. The streamlined user interface on risk reports facilitates quick assignment of MTI entries directly from the Mark-to-Market report.

Functional Impact

S24’s tax integration ensures compliance, reduces manual tax calculations and enhances audit readiness. Improved payable matching streamlines transaction handling, reduces errors, and eliminates dropdown list redundancies. These features enhance accounting accuracy, efficiency, and overall operational performance.

Technical Impact

Implementing tax integration requires API updates, database schema changes, and enhanced reporting. Payable matching improvements involve optimizing algorithms and UI components, eliminating dropdown redundancies. These modifications ensure accurate data import, efficient processing, and enhanced system performance.

KEY ENHANCEMENTS

  • Tax Integration: Support for importing externally calculated tax values, ensuring compliance and accurate tax reporting. This reduces manual tax calculations and improves audit readiness.
  • Payable Matching: Improvements in handling payable transactions and reducing redundancies in the transaction types dropdown list.

Functional Impact

The introduction of editable document templates and convenient access to favorite tools enhances flexibility and efficiency in document management. Users benefit from streamlined processes, improved accuracy, and reduced manual effort in customization tasks. Template editing simplifies customization, reducing manual effort.

Technical Impact

Implementing these features necessitates adjustments in document management systems to support direct editing of templates, enhancing usability and integration.

KEY ENHANCEMENTS

  • Edit Generated Templates: Documents such as invoices and confirmation templates can be edited directly after generation. Configurable DMS templates enable the generation of fully editable Word documents, facilitating post-generation modifications. Additionally, easy access to favorite reports, maintenance tools, and templates is provided through dedicated RightAngle modules and desktop.
  • Favorites Desktop: A new feature enables users to access favorite reports, maintenance tools, and templates in one convenient location.

Upgrade with Value Creed: Your ETRM Solutions Partner

Experience the difference with Value Creed, your premier partner for ETRM solutions and upgrades.  With years of experience and a proven track record in executing seamless transitions, we tailor our approach to your specific needs. Seamlessly upgrade to RightAngle S24 and optimize your energy trading operations by partnering with us. Get in touch today to ensure a smooth and efficient upgrade process.

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Optimizing Renewable Fuel Management

Navigating the intricacies of Renewable Identification Numbers (RINs) within C/ETRM software like RightAngle demands a tailored approach. Our custom utility module is designed to seamlessly track the flow of RINs while ensuring alignment with renewable fuel standards and adapting to your business requirements. With strategic integration, custom automation, regulatory expertise, risk management solutions, and testing and maintenance support, we offer a comprehensive solution for your renewable fuel management process. Whether it’s merging renewable standards into existing systems or addressing compliance risks, our suite of instruments streamlines your operations and ensures continuous rule adherence.

Navigating Compliance with the Renewable Fuel Standard (RFS)

Traditionally, businesses manually manage their compliance with the Renewable Fuel Standard (RFS), relying heavily on spreadsheets and manual calculations to assess risks. This approach led to issues in various segments such as data management. Companies encountered difficulties in manually collecting information on renewable fuel types and quantities, tracking purchases, blending activities, and production using spreadsheets or third-party applications, leading to inaccuracies. Manual calculations added complexity, as users must compute volumes of renewable fuels needed to meet regulatory obligations.

Furthermore, record-keeping became demanding, requiring the maintenance of extensive records detailing renewable fuel usage, associated RINs, and transactions related to RIN trading. Additionally, preparing reports for regulatory agencies necessitates manual data entry and verification, posing a risk of errors due to the labor-intensive effort.

Integrating ETRM Systems for Efficient Management

Our experts propose a solution to enhance the management of Renewable Fuel Standard (RFS) compliance by integrating RFS requirements into ETRM systems like RightAngle through a custom module. This method entails customizing various aspects to suit specific needs.

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Benefits of the Proposed Solution

Efficiency and Automation

Our custom module centralizes RINs operations, significantly reducing manual work to only 1-2 hours, achieving over 90% accuracy.

Accurate Monitoring & Tracking

Effectively oversee numerous transactions amounting to 1,000,000 gallons of RINS annually, reducing transactional risks.

Compliance

This solution significantly reduces the risk of non-compliance with RFS regulations, avoiding potential financial and legal penalties.

Subsidy Allocation

Empowers companies to manage their RINS transactions within RFS regulations, enabling them to access subsidies for their business activities.

Operational Excellence

Renewable certificates are tracked by recording transactions. This involves exchanging these transactions with EMTS and automatically confirming they meet the necessary standards.

Documentation and Audit Trail

An integrated system can maintain a detailed audit trail, providing a record of all renewable standards activities, which is crucial for compliance verification.

Efficient, Accurate, and Sustainable: Value Creed’s Tailored Solutions

Our custom utility solution effectively streamlines processes through automation, minimizing manual efforts and resource consumption. This enhancement ensures accuracy and timeliness in compliance records, ultimately reducing errors and delays. By reducing administrative overhead, our solution reduces cost. It also promotes sustainability through cleaner fuels and encourages eco-friendly practices. With efficient data management and automated reporting, our system enhances accuracy and operational efficiency, marking a significant step forward in renewable fuel management.

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Performance Challenge

Achieving a competitive edge requires agility and seamless data integration. This case study details how we revolutionized railcar integration and tracking for a top energy trading firm. The client encountered significant operational challenges in managing the in-transit inventory across 80-100 railcars. Manual tasks consumed 10-12 hours of labor due to the absence of an automated and integrated railcar management system. Implementing our suggested solution reduced manual entry, costs, errors, and improved inventory and service efficiency.

Our solution prioritized Inventory Management, reducing stockouts, optimizing resources, and enhancing financial reporting precision. It’s adaptable to market shifts, improving cash flow visibility for efficient working capital management.

KEY RESULTS

10-15% Annual Cost Savings

In-Transit Inventory Management

3000+ Record Tracking

Efficient Time Management – Records processed within 10-15 minutes

Streamlined Railcar Operations

Automates updates to railcar orders and movement status 

Improved Risk Management

Market Risk, Credit and Replacement Risk, In-transit Inventory Risk

Scalable Infrastructure

No extensive reconfiguration is required

Improved Operational Efficiency

Reduction in manual data entry

Optimizing Operational Efficiency

Value Creed suggested a customized solution that utilized RightAngle’s advanced features, including custom tasks, reports, and integrations.The strategy was centered on using Car Location Messages (CLM) to automate data flow between external railcar tracking systems and RightAngle. This ensured accurate, real-time updates on railcar locations and statuses, streamlining operational workflow. The implementation phase included several essential components: 

Creating Custom Interfaces: Developing interfaces to connect RightAngle with external railcar tracking systems.

Data Mapping and Transformation: Ensuring smooth data exchange across different systems, formats, and standards.

Automating Data Updates: Setting up workflows for real-time data updates in RightAngle to minimize manual errors.

Customizing Scheduling: Tailoring scheduling for railcar tracking to improve transaction settlement tracking.

Ensuring Quality: Implementing rigorous testing protocols to ensure system reliability and accuracy.

Planning for Scalability: Designing solutions with scalability in mind to accommodate future business growth and changes.

Value Creed Services Mobilized:

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Expertise on Demand

Unlock operational effectiveness and elevate the efficiency and reliability of your database through Value Creed’s services. Optimize performance with fast and accurate data extraction, reconciliation, calculation, and reporting.

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Key Takeaways

In our approach to addressing operational challenges around practical railcar integration and tracking, we prioritize efficiency, reliability, and scalability. For instance, our focus has been on improving in-transit inventory management, as our clients typically handle around 80-100 in-transit railcars per month, totaling 1-1.5 million gallons of volume. With our solution, we’ve achieved significant cost savings of 10-15% annually on in-transit inventory management.

Through our emphasis on efficient inventory management, precise timekeeping, streamlined operations, and improved risk management, our team addresses current market complexities while paving the way for the client’s sustained success and future growth in a dynamic market environment.

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Empowering Energy Traders with Advance Solutions

Timely pricing data empowers traders with informed decision-making. The seamless integration of pricing interfaces is pivotal for accurate business operations and provides crucial insights for effective risk management, given the direct impact of prices on energy trading profitability. Our solution not only automates price imports into RightAngle from diverse sources but also introduces advanced accelerators to boost the efficiency of existing interfaces. Furthermore, it offers invaluable support to clients in the Northern region, where extreme cold conditions require meticulous consideration of temperature correction factors in trading dynamics.

The Imperative for Automation in Risk Management and Financial Operations

Currently, users engage in a manual and error-prone process for price corrections, manually verifying prices against alternative sources and leading to inaccuracies in trade confirmations and settlements. This approach lacks automation, particularly for critical factors like temperature corrections, requiring additional manual intervention and diminishing pricing accuracy.

The absence of prices distorts risk assessments, compromising effective portfolio valuations and exposing assets to unforeseen risks. Manual reconciliation processes are both time-consuming and error-prone, resulting in increased operational costs. Additionally, oversights in temperature correction and resource-intensive maintenance contribute to inefficiencies, placing the business at a competitive disadvantage in a technology-driven market. Swift adoption of advanced solutions is imperative for streamlining risk management and financial processes.

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Comprehensive Solutions for Enhanced Data Management and Reporting Efficiency

We’ve developed a comprehensive solution to address identified issues. Our system effortlessly imports real-time prices, rectifies missing or incorrect data, and issues real-time alerts for proactive problem-solving. Prioritizing data integrity, centralized management, transparency, and compliance; it significantly improves business performance and guarantees accurate valuations.

Custom Interface Tasks

This solution revolves around customized jobs with diverse functions such as importing price files into RightAngle, promptly notifying the business team of pricing discrepancies (missing, duplicated, or incorrect prices), and rectifying prices in instances of discrepancies related to temperature correction factors.

Archiving process

The solution also features a robust archiving process to prevent file and data duplication, ensuring data integrity.

Staging Reports

Provides sophisticated reporting through staging and historical reports, acting as a centralized information repository. It facilitates clear audit trails, fostering enhanced data transparency and accountability.

Benefits of the Proposed Solution

Step into the future of energy trading with our advanced solution. Real-time alerts, proactive issue resolution, and enhanced portfolio management streamline risk management. Our system ensures data integrity, efficiency, and regulatory compliance, empowering decision-makers for strategic success in a dynamic market.

The customized task promptly informs the business team of pricing problems like missing, duplicated, or incorrect price files, ensuring quick attention and action to minimize the impact on trading and risk management activities.

Timely notifications empower proactive risk management, allowing risk analysts to swiftly take corrective actions, such as delaying the end-of-day (EOD) process. This proactive approach prevents potential financial losses and mitigates risks before they escalate.

Alerts facilitate efficient portfolio management, enabling risk analysts to make timely adjustments to allocation and rebalancing strategies. This optimization enhances the overall performance of the portfolio.

Our solution’s archiving process crucially prevents data duplicity by systematically ensuring the uniqueness of each archived file, reducing the likelihood of errors and discrepancies in the system.

Staging and historical reports establish a centralized repository for pricing data, streamlining data management processes, and acting as a comprehensive reference for audits, reporting, and future decision-making.

The utilization of a staging table creates a transparent audit trail for all pricing data, enhancing organizational accountability. Users can trace the history of pricing data, simplifying the identification and correction of discrepancies.

 

Efficient alerts reduce manual efforts and resource allocation. Streamlining the resolution process enables risk analysts to allocate their time and resources efficiently, directing their focus toward strategic risk management activities.

Our solution ensures pricing data integrity, empowering decision-makers with reliable information for better-informed strategies and overall improved decision-making.

Addressing temperature corrections is crucial in mitigating risks associated with extreme cold. Traders assess impacts on commodity quality, quantity, and transportation, making informed decisions to counter weather-induced variations.

 

Our solution’s documentation and audit trails ensure regulatory compliance in the energy trading sector, meeting reporting requirements and averting penalties.

 

Precise Pricing and Strategic Solutions with Value Creed

Our expert team provides a suite of essential services for this solution. This includes in-depth business analysis, solution design detailing customized operations, development aligned with client specs, comprehensive testing, and deployment within RightAngle with ongoing support.

Our proposed solution revolutionizes pricing data management, ensuring precise risk assessments, accurate portfolio valuations, and minimized financial risks. By optimizing hedging strategies and mitigating operational and financial risks, it fosters efficiency, cost savings, and a competitive edge in dynamic markets.

Connect with us today to know more about our tailored solutions!

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Elevating Efficiency with Tailored Solutions with ICE eConfirm Process

ICE Tade Vault eConfirm is a tailored solution designed specifically for commodity trading firms aiming to streamline their trade confirmation processes through electronic means. Our Custom Solution enables a seamless eConfirm process with the ICE Trade Vault and answers our client’s reconciliation and reporting requirements by seamlessly integrating RightAngle with ICE Trade Vault. This integration solution is facilitated by a customized RightAngle Editable Report and Interface, utilizing the eConfirm API provided by ICE to connect with the ICE Trade vault. Through this comprehensive approach, we effectively manage and control the trade confirmation process within RightAngle, significantly minimizing the need for manual intervention in matching trade confirmations.

ICE Tade Vault eConfirm is a tailored solution designed specifically for commodity trading firms aiming to streamline their trade confirmation processes through electronic means. Our Custom Solution enables a seamless eConfirm process with the ICE Trade Vault and answers our client’s reconciliation and reporting requirements by seamlessly integrating RightAngle with ICE Trade Vault. This integration solution is facilitated by a customized RightAngle Editable Report and Interface, utilizing the eConfirm API provided by ICE to connect with the ICE Trade vault. Through this comprehensive approach, we effectively manage and control the trade confirmation process within RightAngle, significantly minimizing the need for manual intervention in matching trade confirmations.

Navigating Complexity in RightAngle ICE eConfirm Process

The automated integration of RightAngle with ICE Trade Vault for the eConfirm process presents significant challenges, demanding a customized solution for trade submission. This involves the intricate mapping of RightAngle trade information to the format accepted by ICE Trade Vault, specifying the request type and XML mappings for the eConfirm API, and subsequently transmitting data to the eConfirm API and receiving the acknowledgment. This intricate process results in higher implementation and support costs, with the requirement of SMEs.

The manual process of uploading the trades on the website necessitates additional manpower for trade validation, leading to considerable time wastage and resource depletion. Moreover, the manual nature of this operation contributes to increased operational delays, as the time-consuming process carries a heightened risk of manual errors, causing a regression impact that poses challenges and disruptions in the workflow.

Strategic Expertise with Seamless Integration and Custom Solutions

With extensive experience serving diverse clients and possessing specialized proficiency in eConfirm and RightAngle, we bring a wealth of expertise for custom solutions aligning with unique business requirements. Our proficiency lies in the seamless transformation of deals into standard XML formats, ensuring rapid, precise, and legally binding alternatives to manual, paper confirmations for eConfirm.

Additionally, the report provides insight into trade statuses such as Pending/Alleged, Unmatched/Matched, and Cancelled, along with counterparty comments and any associated errors. This holistic approach streamlines the confirmation process, enhancing accuracy and efficiency while accommodating customization for evolving business demands.

Unlocking the Power of RightAngle's Custom Report Accelerator

Our proposed solution involves a custom RightAngle report showcasing available trades/deals to be sent for eConfirm transmission. This report empowers businesses to validate trades before sending, initiating a back-end interface via a click of a button to confirm RightAngle data mappings against eConfirm-readable fields. In the event of errors, they are promptly displayed on the report, enabling users to rectify and revalidate.

Once validated, users can process the records, triggering a back-end interface to convert trade/deal data into eConfirm-compatible XML format. The interface then calls the eConfirm API to authenticate the session and load the data into the ICE Trade Vault for trade/deal validation with counterparties. Successful processing is reflected in the same report, providing a comprehensive view of the validation outcomes.

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Our proposed solution involves a custom RightAngle report showcasing available trades/deals to be sent for eConfirm transmission. This report empowers businesses to validate trades before sending, initiating a back-end interface via a click of a button to confirm RightAngle data mappings against eConfirm-readable fields. In the event of errors, they are promptly displayed on the report, enabling users to rectify and revalidate.

Once validated, users can process the records, triggering a back-end interface to convert trade/deal data into eConfirm-compatible XML format. The interface then calls the eConfirm API to authenticate the session and load the data into the ICE Trade Vault for trade/deal validation with counterparties. Successful processing is reflected in the same report, providing a comprehensive view of the validation outcomes.

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The main accelerator in this process is the pre-existing editable report in RightAngle, equipped with logic for transforming deals into standard XML format. It seamlessly interfaces with the ICE XML eConfirm API to process deals into ICE Trade Vault, fetching and displaying trade/deal statuses within the report.

The report further acts as a validation tool, ensuring deals meet required submission fields and conditional data criteria, reducing reliance on manual checks. These accelerators can be re-implemented and customized to adapt data mappings to specific business needs.

Transformative Advantages of Our Dynamic Solution

Our solution offers a rapid, precise, legally binding digital alternative to manual, paper-based confirmations. Once implemented, it significantly enhances efficiency by minimizing the manual effort required for trade validation.

Seamless Integration

Leveraging our accelerators ensures a seamless and expedited implementation or upgrade journey, optimizing time and resources.

Streamlined Data Submission

Our tailored solution effortlessly converts deals into a standardized XML format, facilitating easy submission to eConfirm. It meticulously validates all necessary data fields and establishes cross-references to align with product standards.

Agility in Response to Market Dynamics

The flexibility of our custom accelerators empowers clients to swiftly respond to evolving market conditions, changing customer preferences, and dynamic industry regulations. This also ensures business resilience and long-term sustainability.

Empower Business Efficiency with Value Creed

With a focus on agility and customization, our solution offers a sustainable and precise approach to electronic trade confirmations, ensuring a seamless journey for our clients. By addressing the challenges associated with the manual submission of trades to eConfirm, our custom RightAngle ICE Trade Vault Integration offers a tailored and efficient alternative. Our solution not only streamlines data submission but also enhances adaptability to market dynamics, fostering business resilience. Connect with us today to discover a range of tailored solutions that cater to all your business needs!

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