In addition to Commodity XL™ being the only solution that met all our business requirements, Triple Point's biofuel, agriculture and energy experience, along with its global footprint clearly made it the right choice for Vertical.
WESTPORT, Conn. (PRWEB) July 31, 2008
Vertical UK LLP is based in London, with operations in Geneva, Rio de Janeiro, Houston and Singapore. It is a partnership between COSAN (Bovespa: CSAN3), the largest Brazilian independent ethanol, sugar producer and sugar cane grower with a group of managers with long term experience in commodities trading. Vertical UK LLP is today one of the largest trading and distributors of biofuels and industrial ethanol world-wide. It operates in more than 80 countries with a fully dedicated team, distributing over 800'000 tons of goods per year.
"Vertical is experiencing rapid growth and requires a platform that enables us to take advantage of market opportunities while also providing the infrastructure for proper management oversight," stated Gaurav Mehra, CFO, Vertical. "In addition to Commodity XL™ being the only solution that met all our business requirements, Triple Point's biofuel, agriculture and energy experience, along with its global footprint clearly made it the right choice for Vertical."
Commodity XL for Biofuels has been adopted by leading agriculture organizations and biofuel groups, as well as energy companies, financial institutions and commodity trading houses. Commodity XL for Biofuels enables clients to profitably hedge biofuel inputs and outputs, aggregate risk across multiple commodities, easily handle new complex trade types and derivative instruments, and combine physical and financial reporting. Users can view multiple commodity positions in real-time and monitor ancillary costs of commodity movements. Commodity XL for Biofuels streamlines operations by utilizing straight-through processing eliminating data re-entry and associated errors, integrating trading with scheduling and settlement, and managing all commodities in standard formats.
"Ethanol and bio-diesel are increasingly significant factors in a highly inter-related global energy mix, and suppliers need to manage their risk exposure in relation to agricultural feedstocks and energy outputs. Commodity XL for Biofuels manages the full biofuels life-cycle including purchasing, processing, marketing and logistics," said Peter F. Armstrong, president and CEO of Triple Point Technology. "It's exciting when a progressive organization like Vertical, that's helping to create a new market, recognizes Triple Point and Commodity XL as the company and product to help it achieve its business objectives."
In addition to Commodity XL for Biofuels, Vertical selected Commodity XL PhysOps 'Visual Cockpit'™ to manage its logistical operations. The product is a next-generation software solution for managing the logistical and financial complexities of waterborne and overland commodity shipments of bulk and packaged commodities. PhysOps 'Visual Cockpit' enables commodity importers, exporters, producers, refiners, manufacturers, distributors and global traders to move bulk and packaged commodities by sea-going vessel, barge, truck, railcar and pipeline. With PhysOps 'Visual Cockpit', global commodity traders can plan, conduct and optimize complex shipments, including those involving multiple cargos, suppliers and receivers, delivery points and border crossings.
This press release supersedes all previous communication on Vertical UK LLP I/O COSAN choosing Triple Point Technology's Commodity XL™ software.
About Triple Point Technology, Inc.
Triple Point Technology is the established leader in cross-industry commodity and energy trading, risk management, scheduling and logistics software solutions. Triple Point Commodity XL profitably integrates physical and financial markets from the front-to-back office on a real-time, next-generation platform for all commodities, including power, oil, gas, coal, base and precious metals, agricultural products, biofuels and freight. Triple Point's award-winning solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies. Founded in 1993 and headquartered in Westport, Connecticut, USA, Triple Point serves clients from eight development and support centers located around the globe. More information is available at http://www.tpt.com.