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CubeLogic signs Centrica PLC
London July 21, 2010—CubeLogic , developers of the RiskCube, a new generation of Business Intelligence solution, today announced a deal with Centrica PLC one of the UK’s largest integrated energy companies. Centrica will deploy the RiskCube in it’s UK based credit risk management function.
Based on the Microsoft Business Intelligence platform the RiskCube extracts trade and agreement data from underlying ETRM systems. Once extracted and loaded into the OLAP based RiskCube credit users are provided with a 'self service' real-time slice and dice capability. The Cube utilises a Silverlight browser based user interface to allow limits and other reference data to be maintained.
David Priestley, CubeLogic’s Executive Chairman commented “We are delighted to add Centrica to our customer list. The win follows an extensive review by Centrica of a number of credit risk systems and shows there is demand for an application based on technology that removes the need for long batch processes and provides users with control of their own data in real-time”
Chris Faulkner Head of Credit at Centrica said "We are excited about implementing the RiskCube at Centrica. We are confident that it will provide the credit team with the ability to quickly, efficiently and effectively provide the business with the analysis and insight they demand. The ability to be able to create our own bespoke reports makes this a powerful tool”
For more information contact info@cubelogic.com or call David Priestley on +447968 007863
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Navita Systems to offer CubeLogic’s “RiskCube” giving added value to POMAX ECTRM system
London, April 8, 2010—Navita Systems, Halden, Norway, leading provider of ECTRM systems for the global energy and commodity trading community, and CubeLogic, London, UK, provider of best-of-breed credit risk solutions, announced today their intention to offer CubeLogic’s “RiskCube” giving added value to Navita’s POMAX ECTRM offering, as an add-on to POMAX, and through Navita Systems. Typical uses of CubeLogic’s cube offering include credit risk, market risk, and trade flow reporting. The arrangement is not exclusive.
“Based on input from one of our major customers and major players in the European energy markets, we believe that the addition of cube technology to a standard ECTRM platform offers an extremely compelling value proposition for major energy- and commodity-trading corporations globally, especially in the area of credit risk. While our technology could be combined with most ECTRM systems on the market, we have chosen to work with Navita Systems because they share the underlying commitment to value for money, short deployment time, and alignment with key technology trends” commented David Priestley, Chairman CubeLogic.
“The partnership with Cubeogic offers our customers access to cube technology on top of POMAX, especially in the area of credit risk, with the performance gains, the specialisedbest-of-breed solutions, and flexibility that are associated with such technology. This is something that many of our top-tier customers have requested and we are proud of working with industry veterans like David Priestley, Lee Campbell and Ian Tobin in the area of cube technology and credit risk” said Knut Johansen, CEO, Navita Systems AS.
About Cubelogic Ltd.
CubeLogic provides leading edge IT products in risk management for the energy and commodity markets. The founders of CubeLogic are all renowned experienced industry specialists who have a long track record of developing and implementing global risk systems, especially in the area of credit risk. In the current volatile market conditions, CubeLogic addresses the increasing demand for robust, cost effective Business Intelligence solutions for risk management. CubeLogic’s flagship product ‘RiskCube’ offers a radical departure from traditional trading and risk solutions by providing superior technology performance and short implementation times at a price point that is affordable and unrivalled. CubeLogic is majority owned by Firm Economics, a London-based company founded in 2006 that invests in growth technology companies in the finance and commodities sectors.
About Navita Systems AS.
Navita is a leading provider of technology solutions to the energy and wider commodity trading industries. Navita’s POMAX suite delivers market analysis, trading, risk management, logistics, and settlement solutions for both physical and financial market participants and central marketplaces across a wide array of commodity classes. Navita is the continuation of more than 15 years experience within the field of system solutions and services. Navita has its head office in Norway and also has regional offices in London, Edinburgh, Stockholm, Toronto and Los Angeles. More than 100 installations worldwide rely on Navita’s POMAX product in their daily trading operations. POMAX customers include E.ON, Centrica, EDF Trading, Statkraft, Shell, ESBII and Bruce Power. More information about Navita is available at www.navita.com
For more information, please contact Grim Gjønnes, EVP and Head of Business Development (grimg@navita.com,+47 934 01 002) or Ian Tobin - Product Director, CubeLogic Limited, (itobin@cubelogic.com, +44 7545 129 348)."
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27 November, 2009
Firm Economics launches credit and risk data company CubeLogic
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