Last week, Patrick and I had an update from Mark Ayzenberg of Beacon Platform who had also just sent over an announcement regarding a new partnership with Gasum. According to that announcement, Gasum had been “looking to expand the range of products they can trade, but were finding it difficult to incorporate new financial instruments and functionality into their existing pricing and risk systems. They chose Beacon Platform as the ideal solution to take their trading systems into the future. Gasum’s quant team plans to automate some of their current workload, freeing up time and resources and enabling them to work on more forward-looking and strategic projects. The team will also be using Beacon’s integrated Quote Tool, part of the Front Office Suite of applications, to price instruments such as futures strips. As they roll out broader functionality across the team, they are also exploring Beacon’s X-Value Adjustment (XVA) tools for deeper and ad-hoc risk analyses.” Mark told us that Beacon Platform had already onboarded Statkraft and EnBW. He was also excited about a couple more opportunities that he felt would close in the near future in the commodities space and that the company had signed a number of commodity… continue reading
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