The trading desk is the nerve center of an energy trading company. Most large organizations have multiple systems installed catering to different functional areas, various commodity markets and geographies. Trading and risk management receive real time feeds from and provide feeds to numerous external systems. Considering the diverse business and technical needs, the energy trading company is bound by multiple application sets, therefore defining the criticality of system integration.
To list a few applications:
Front office
- Real time market feed systems - Reuters, Bloomberg, LIM
- Various commodity price assessment companies like Platt's, Argus, McCloskey
- Connectivity to Electronic Broking Service like ICAP, globalCoal
- Connectivity to electronic commodity exchanges or Trayport etc.
- E-commerce portal for retails and commercial clients trading
- Trade management system
Middle office
- Risk engine and proprietary risk models
- Risk management system that integrates trade positions across various systems
- Limit monitoring and collateral management system
Back office
- Confirmation matching system
- Payment systems like SWIFT and online connectivity with banks
- Accounting systems and general ledger
- Enterprise wide systems - SAP, Oracle
- Logistics and supply related applications
The trading desk is shadowed by an IT organization which emulates similar structure by business/functionality relevant applications. Integration will help in seamless data flow between multiple applications and reduce human error apart from serving the overall business objective. Though rationalization of consolidation of application is one of the key IT drivers, some business imperatives will always lead to multiple systems and the need to integrate them.
How Wipro Helps
Wipro's technical team supported by domain Center of Excellence helps create value by integrating business processes and applications. Wipro also works on APIs released by most of the product companies and exchanges to create the integration framework. Our Center of Excellence is also dedicated towards working on single integration framework based on SOA concept to work towards seamless integration of the application. This framework also has advantages of quick integration or retirement of applications.