TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia with a focus on long-term shareholder value. The company provides municipalities, medium and large industries, businesses, and utility customers with clean, affordable, energy efficient and reliable power.
TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of hydroelectric
power.
Key Results
Overcame operational challenges to keep trading smoothly
Met critical deadlines without any disruption to business
Gained reliable connections to physical and derivative markets
Benefited from complete transparency in work and control over the trading data
Uncovered and implemented additional operational efficiencies within weeks
Freed technical staff to focus on driving business, not putting out operational fires
The Challenge
Like many large and dynamic firms, TransAlta’s trading business in commodities is undergoing rapid change. As a large organization, they had made many custom changes to their trading systems that slowed their ability to meet internal project goals. Yet, as their business strategy evolved to increase trading in financial derivatives markets, so did their needs.
TransAlta hit a roadblock when ICE announced breaking changes to the ICE Trade Capture API. TransAlta learned that they would have to make technical changes on a short timeframe to maintain trade data automation in this key derivatives market. To make the required technical changes, TransAlta would be forced to redo many of their customizations. With the deadline to complete these technical changes just weeks away, this was simply too disruptive and risky
The Solution
TransAlta was already successfully relying on
BroadPeak’s K3 solution for other exchange data
feeds related to compliance. They sought to
additionally leverage K3 to automatically retrieve all
necessary derivatives trade data and prevent
disruption to their business.
For day-to-day operational support, TransAlta
selected Value Creed for unmatched expertise in
outsourced trading platform management. Since
Value Creed already had a strong relationship with
BroadPeak, working together was seamless.
Value Creed led the implementation of K3 to
replace the existing vendor’s trade feeds within a month. During the process, the collaborative team
uncovered additional operational improvements to
implement for increased efficiencies.
Organizational factors from TransAlta were also key
to a successful delivery: A well-organized IT group
who can execute under time constraints, executive
sponsorship, and technical folks with the ability to
solve unexpected issues and reduce friction throughout the effort.
The Result
TransAlta met the key ICE Trade Capture API deadline without making risky changes or otherwise disrupting
business. And with Value Creed managing their software platform, they are no longer battling day-to-day
operational issues.
We had an incredibly short period to make these
changes so we could maintain automation of our
trade data feeds. Interrupting business operations
was not an option. Luckily, BroadPeak and Value
Creed met our deadline. Their commitment to our
project was impressive.