Cadoil Trading SA has selected Aspect Enterprise Solutions’ cloud solution AspectCTRM as its trade and risk management platform.
Expansion plans will see Geneva-based Cadoil triple their user base within two years, with the cloud-based solution supporting front-, mid- and back-office trading in physical cargoes and related derivatives.
Cadoil's choice of AspectCTRM was made after a rigorous evaluation process, managed by PWC, of five contending offerings. Aspect emerged the winner on cost of deployment, cost of ownership, functionality and scalability.
Cadoil's CEO Luis Muniesa first encountered AspectCTRM in 2005: "With the start-up of Cadoil, I wanted Aspect on our selection list. The process was handled by PWC and Aspect's Standard Edition came out on top. It's a very impressive solution, written by traders, for traders, it supports our needs for recording all trading activity, assisting in decision making and analysis, and delivering management reports. Our backers are looking for rapid expansion. Aspect's modular approach will act as a catalyst for growth by enabling us to start small and grow quickly while adding functionality such as interlinks to other systems including our ledger."
Aspect EMEA Sales Director Yags Savania, added: "Managed by PWC, the selection process at Cadoil delivered further evidence that as AspectCTRM matures it matches point for point all the functionality offered by the competition, and wins hands down through speed and cost of implementation."
Adapted from press release by Katie Woodward
Read the article online at: https://www.oilfieldtechnology.com/product-news/22102014/cadoil-trading-selects-aspect-solution-1017/