News & Updates
Press Releases
Source: CubeLogic London, 19th October, 2011
CubeLogic awarded Microsoft Silver ISV Partnership
CubeLogic are proud to announce we have successfully attained the Microsoft Silver ISV (Independent Software Vendor) Partnership. The requirements for Silver Partnership approval involve a minimum of three verifiable customer references and Microsoft Platform Test qualification of our product suite. CubeLogic received full reference backing from our customer base and completed qualification of the competency tests for ‘Windows Server 2008 R2 Platform Ready', 'Windows 7 Platform Ready' and 'SQL Server 2008 R2 Platform Ready'.
Lee Campbell CTO said “Being a member of the Microsoft Partnership shows we are committed to developing our products in line with the Microsoft Business Intelligence platform. This quality seal demonstrates our products meet the required testing qualifications and clearly shows our customers we are dedicated in maintaining product quality and improving our product suite” The Silver ISV Partnership provides CubeLogic a strong working relationship with Microsoft and access to the latest technologies, knowledge base and support resources.
For more information, please contact:
• Internet: www.cubelogic.com
• Email: info@cubelogic.com
About CubeLogic
CubeLogic provides advanced risk software to the energy sector. Our mission is to deliver business intelligence data analysis applications to provide real-time risk management with unrivalled flexibility and performance. With 'Blue Chip' clients including Mercuria, Centrica, EoN and Gazprom, CubeLogic is rapidly becoming the market leader. Our comprehensive Credit Risk Solution includes modules for Credit Exposure Management, Margining, Scoring/Financial Analysis, Reference Data Management and Analytics for PFE and CVaR.
CubeLogic announces first live site for Release 2 at Mercuria
CubeLogic announced today that it has gone live at Mercuria on Release 2 of the RiskCube its industry leading Risk Management software. David Priestley CEO said “ We are particularly pleased with this announcement, the risk management software sector has been dogged for years by difficult upgrades that take longer than expected and introduce new problems. The fact that release 2 has gone into production at Mercuria within two weeks of its release is a testament to the quality of our development process and quality assurance programme”. Release 2 includes a whole host of new features for the the credit and market risk cube-based application suite.
Chris Mudry – Chief Risk Officer at Mercuria commented “We are always very nervous about software upgrades but this one went into production within a week of CubeLogic arriving on site. It gives us the confidence to stay closely aligned with their ambitious development programme." For more information.
CubeLogic announces the release of Version 2 of The RiskCube
CubeLogic announces the release of Version 2 of the RiskCube. The release incorporates a number of major improvements including:
CubeLogic announces deal with Gazprom Marketing & Trading
CubeLogic, developers of the RiskCube, a new generation of Business Intelligence solution, today announced a deal with Gazprom Marketing & Trading(“GM&T”). Under the deal Gazprom have purchased a number of modules of the RiskCube including the Credit Cube for exposure management, the Reference Data manager that allows users to capture and amend Customer Static and Legal Agreement Data, the Workflow module a fully configurable workflow capability used to streamline business workflows and the Analytics module that facilitates Potential Future Exposure and Credit Value at Risk calculations.
GM&T is the trading and marketing subsidiary of Gazprom, one of the world’s largest energy companies. GM&T is a global business that provides customers with integrated energy solutions. From offices in the USA, Europe and Asia, GM&T offers a unique suite of financial and physical energy products. GM&T will initially deploy the RiskCube to support its credit risk management operations Based on the Microsoft Business Intelligence platform, the RiskCube extracts trade and counterparty data from underlying Trading systems. Once extracted and loaded into the Cube, credit users are provided with a ‘self service’ real-time slice and dice capability. The Cube utilises a Microsoft 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 Gazprom to our growing customer list which now includes five of the world’s largest energy traders.”
CubeLogic reports outstanding benchmark results for its suite of Risk Cubes through Intel fasterLab
Benchmarks using Intel fasterLab proves Risk Cube can handle huge volumes of data for high performance risk management
London, 26 November 2010 – CubeLogic provide high performance flexible Risk Analysis tools to the Commodities and Financial Services sectors. Effective Risk Management requires the ability to aggregate and slice large volumes of data from different sources. Moreover, when performing Monte-Carlo style simulation for computation of VaR and PFE the number of aggregated data points can increase enormously, even on medium sized portfolios. At the same time, organisations need fast computation and flexible access to this data in real-time. CubeLogic worked closely with Intel using their advanced faster Lab environment to undertake a number of benchmarks of the Risk Cube product to ensure it is able to scale to significant volumes and still provide fast and flexible results. Using a 32-core Intel(r) Xeon-based server with 120Gb of memory Risk Cube was able to aggregate 2 billion trade positions for counterparty credit risk exposure reporting, VaR and simulated potential future exposure results. Complex netting rules, counterparty hierarchies, currency conversions and discounting were all performed using the real-time slice and dice on the cube with response times of two to three seconds.
Legacy risk management solutions perform the complex calculations in overnight batch processes typically taking several hours. The end result is a set of pre-calculated data and very static reporting. Risk Cube removes this legacy style pre-calculation to give users total flexibility. Lee Campbell, CTO of CubeLogic say, "We were very happy with the results of this benchmark although certainly not surprised by it. Risk Cube delivers power and flexibility to the users in a truly unique and elegant solution. The days of inflexible, batch based solutions are surely a thing of the past and users in today's volatile markets expect high performance and total flexibility to deal with day to day risk management."
Built on the latest Microsoft Business Intelligence platform installed on Intel hardware, Risk Cube delivers the ultimate in data analysis and risk management with the scalability to perform millions of simulations per trade. Gordon Hughes of Intel Corporation said "this is a prime example of bringing together advanced high performance Intel technology with leading edge software to deliver exceptional value to the risk users. We were extremely keen to work with CubeLogic in our fasterLab to demonstrate the use of Intel technology in this area."
About CubeLogic
CubeLogic provides niche IT products and consultancy services in risk management for the energy, commodity and investment banking markets. The founders of CubeLogic are all renowned experienced industry specialists who have an impressive track record of developing and implementing global risk IT solutions. In the current volatile market conditions, CubeLogic addresses the increasing demand for robust, cost effective Business Intelligence solutions using the very latest OLAP Cube technology.
About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. Additional information about Intel is available at www.intel.com/pressroom and blogs.intel.com
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”
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 specialized bes-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)."
27 November, 2009
Firm Economics launches credit and risk data company CubeLogic
The new company will be chaired by David Priestley who is joined by Chief Technology Officer Lee Campbell, Riyaz Mulla who will manage the off-shore services operations in India and Brazil and Romil Shah leading Business Consulting services.
David said, "Lee, Riyaz and Romil were part of the management team at Raft International, and together provide a wealth of experience in the risk analysis arena. It is our view that few companies have the appetite for major new projects in the current climate. CubeLogic will combine highly trained on-shore and off-shore resources and some new technologies to deliver incremental improvements in our clients risk reporting."
We have developed RiskCube, a multi-dimensional exposure analysis tool that will enable portfolios to be sliced and diced with complete flexibility. In addition to the RiskCube and deep expertise in trading and risk, CubeLogic will offer a full range of services and best practice solutions including;
Firm Economics established in 2006 and based in London invests in growth technology companies in the finance and commodities sectors.
Source: CubeLogic London, 19th October, 2011
CubeLogic awarded Microsoft Silver ISV Partnership
CubeLogic are proud to announce we have successfully attained the Microsoft Silver ISV (Independent Software Vendor) Partnership. The requirements for Silver Partnership approval involve a minimum of three verifiable customer references and Microsoft Platform Test qualification of our product suite. CubeLogic received full reference backing from our customer base and completed qualification of the competency tests for ‘Windows Server 2008 R2 Platform Ready', 'Windows 7 Platform Ready' and 'SQL Server 2008 R2 Platform Ready'.
Lee Campbell CTO said “Being a member of the Microsoft Partnership shows we are committed to developing our products in line with the Microsoft Business Intelligence platform. This quality seal demonstrates our products meet the required testing qualifications and clearly shows our customers we are dedicated in maintaining product quality and improving our product suite” The Silver ISV Partnership provides CubeLogic a strong working relationship with Microsoft and access to the latest technologies, knowledge base and support resources.
For more information, please contact:
• Internet: www.cubelogic.com
• Email: info@cubelogic.com
About CubeLogic
CubeLogic provides advanced risk software to the energy sector. Our mission is to deliver business intelligence data analysis applications to provide real-time risk management with unrivalled flexibility and performance. With 'Blue Chip' clients including Mercuria, Centrica, EoN and Gazprom, CubeLogic is rapidly becoming the market leader. Our comprehensive Credit Risk Solution includes modules for Credit Exposure Management, Margining, Scoring/Financial Analysis, Reference Data Management and Analytics for PFE and CVaR.
CubeLogic announces first live site for Release 2 at Mercuria
CubeLogic announced today that it has gone live at Mercuria on Release 2 of the RiskCube its industry leading Risk Management software. David Priestley CEO said “ We are particularly pleased with this announcement, the risk management software sector has been dogged for years by difficult upgrades that take longer than expected and introduce new problems. The fact that release 2 has gone into production at Mercuria within two weeks of its release is a testament to the quality of our development process and quality assurance programme”. Release 2 includes a whole host of new features for the the credit and market risk cube-based application suite.
Chris Mudry – Chief Risk Officer at Mercuria commented “We are always very nervous about software upgrades but this one went into production within a week of CubeLogic arriving on site. It gives us the confidence to stay closely aligned with their ambitious development programme." For more information.
CubeLogic announces the release of Version 2 of The RiskCube
CubeLogic announces the release of Version 2 of the RiskCube. The release incorporates a number of major improvements including:
- A new workflow module for business process management
- High performance real time position analysis cube
- Configurable Portfolio management including limit setting and reporting
- New Financial Analysis Cube for full counterparty rating analysis
- Advanced visualization with dash-boarding and a new cube explorer tool
- Support for advancing stressing, including half-hourly power
- Full automated daily margining capability
CubeLogic announces deal with Gazprom Marketing & Trading
CubeLogic, developers of the RiskCube, a new generation of Business Intelligence solution, today announced a deal with Gazprom Marketing & Trading(“GM&T”). Under the deal Gazprom have purchased a number of modules of the RiskCube including the Credit Cube for exposure management, the Reference Data manager that allows users to capture and amend Customer Static and Legal Agreement Data, the Workflow module a fully configurable workflow capability used to streamline business workflows and the Analytics module that facilitates Potential Future Exposure and Credit Value at Risk calculations.
GM&T is the trading and marketing subsidiary of Gazprom, one of the world’s largest energy companies. GM&T is a global business that provides customers with integrated energy solutions. From offices in the USA, Europe and Asia, GM&T offers a unique suite of financial and physical energy products. GM&T will initially deploy the RiskCube to support its credit risk management operations Based on the Microsoft Business Intelligence platform, the RiskCube extracts trade and counterparty data from underlying Trading systems. Once extracted and loaded into the Cube, credit users are provided with a ‘self service’ real-time slice and dice capability. The Cube utilises a Microsoft 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 Gazprom to our growing customer list which now includes five of the world’s largest energy traders.”
CubeLogic reports outstanding benchmark results for its suite of Risk Cubes through Intel fasterLab
Benchmarks using Intel fasterLab proves Risk Cube can handle huge volumes of data for high performance risk management
London, 26 November 2010 – CubeLogic provide high performance flexible Risk Analysis tools to the Commodities and Financial Services sectors. Effective Risk Management requires the ability to aggregate and slice large volumes of data from different sources. Moreover, when performing Monte-Carlo style simulation for computation of VaR and PFE the number of aggregated data points can increase enormously, even on medium sized portfolios. At the same time, organisations need fast computation and flexible access to this data in real-time. CubeLogic worked closely with Intel using their advanced faster Lab environment to undertake a number of benchmarks of the Risk Cube product to ensure it is able to scale to significant volumes and still provide fast and flexible results. Using a 32-core Intel(r) Xeon-based server with 120Gb of memory Risk Cube was able to aggregate 2 billion trade positions for counterparty credit risk exposure reporting, VaR and simulated potential future exposure results. Complex netting rules, counterparty hierarchies, currency conversions and discounting were all performed using the real-time slice and dice on the cube with response times of two to three seconds.
Legacy risk management solutions perform the complex calculations in overnight batch processes typically taking several hours. The end result is a set of pre-calculated data and very static reporting. Risk Cube removes this legacy style pre-calculation to give users total flexibility. Lee Campbell, CTO of CubeLogic say, "We were very happy with the results of this benchmark although certainly not surprised by it. Risk Cube delivers power and flexibility to the users in a truly unique and elegant solution. The days of inflexible, batch based solutions are surely a thing of the past and users in today's volatile markets expect high performance and total flexibility to deal with day to day risk management."
Built on the latest Microsoft Business Intelligence platform installed on Intel hardware, Risk Cube delivers the ultimate in data analysis and risk management with the scalability to perform millions of simulations per trade. Gordon Hughes of Intel Corporation said "this is a prime example of bringing together advanced high performance Intel technology with leading edge software to deliver exceptional value to the risk users. We were extremely keen to work with CubeLogic in our fasterLab to demonstrate the use of Intel technology in this area."
About CubeLogic
CubeLogic provides niche IT products and consultancy services in risk management for the energy, commodity and investment banking markets. The founders of CubeLogic are all renowned experienced industry specialists who have an impressive track record of developing and implementing global risk IT solutions. In the current volatile market conditions, CubeLogic addresses the increasing demand for robust, cost effective Business Intelligence solutions using the very latest OLAP Cube technology.
About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. Additional information about Intel is available at www.intel.com/pressroom and blogs.intel.com
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”
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 specialized bes-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)."
27 November, 2009
Firm Economics launches credit and risk data company CubeLogic
The new company will be chaired by David Priestley who is joined by Chief Technology Officer Lee Campbell, Riyaz Mulla who will manage the off-shore services operations in India and Brazil and Romil Shah leading Business Consulting services.
David said, "Lee, Riyaz and Romil were part of the management team at Raft International, and together provide a wealth of experience in the risk analysis arena. It is our view that few companies have the appetite for major new projects in the current climate. CubeLogic will combine highly trained on-shore and off-shore resources and some new technologies to deliver incremental improvements in our clients risk reporting."
We have developed RiskCube, a multi-dimensional exposure analysis tool that will enable portfolios to be sliced and diced with complete flexibility. In addition to the RiskCube and deep expertise in trading and risk, CubeLogic will offer a full range of services and best practice solutions including;
- Programme management using traditional Waterfall and Agile methodologies.
- System configuration.
- Interface design and implementation.
- Third party risk engine integration.
- Business process engineering.
- Migration to new versions of risk systems.
- Platinum level 1 and 2 support using two time zones in India and Brazil to provide extended coverage.
- New report design and implementation.
- Business integrations.
Firm Economics established in 2006 and based in London invests in growth technology companies in the finance and commodities sectors.
