TMCnet News
Noble Group To Deploy Triple Point's Physical and Financial Commodity Trading and Risk Management SolutionWESTPORT, Conn. --(Business Wire)-- June 20, 2005 -- Triple Point Commodities XL(TM) to Streamline Noble Group's Trading, Logistics and Risk Management Operations for Multiple Commodities Across All Global Offices Triple Point Technology, the leading global supplier of cross-industry software platforms for the supply, trading, marketing and movement of commodities, announced today that Noble Group has selected Triple Point Commodities XL(TM) next generation software solution to manage its global physical and financial trading of multiple commodities including petrochemicals, clean oils, coal, coke, metals, ores, coffee, cocoa, sugar, grains, shipping and freight. Noble Group Limited is a leading global merchandiser of industrial, energy and agricultural raw materials. "We performed a comprehensive search for a single system that could handle multiple commodities across all global markets from both a physical and financial standpoint, and Triple Point was the clear choice," said Paul DeFries, Noble Group's head of risk. "We were particularly impressed with the Triple Point team's knowledge and expertise in these major global commodities markets." Noble Group is deploying Triple Point Commodities XL for physical and financial trading, settlement, risk management, and commodity movement and logistics. The Triple Point system will replace disparate legacy systems and manual processes with a single, integrated, scalable platform linking Noble Group's numerous international offices. This will enable Noble Group to achieve a single, real-time view of its risk and credit positions across its global operations. Once operational, Noble Group will have approximately 250 users on the Triple Point system in offices including Hong Kong, Singapore, and Lausanne. "Triple Point earned this contract due to our proven ability to deploy the only truly global, fully integrated, front to back office, physical and financial software solution for multiple commodities on a single, next-generation platform," said Peter Armstrong, president of Triple Point Technology. "This gives commodity companies a single view of their position, exposure and risk at any time across all commodities, markets and continents--and all desktops--around the world." About Noble Group Founded in 1987 and headquartered in Hong Kong, Noble Group Limited is a leading global diversified natural resources merchant. The Group sources, markets, transports and delivers a wide selection of industrial raw materials, agricultural products and energy products. Noble provides a value-added service in the commodities supply chain by efficiently linking producers and consumers on a global basis integrating each step of the supply chain from sourcing to delivery. Through a network of over 60 offices in 30 countries, Noble sources and sells its products globally in five designated divisions: Agriculture; Energy; Finance; Metals, Minerals and Ores; and Logistics. More information is available at www.thisisnoble.com. About Triple Point Technology Inc. Triple Point Technology is the leader in trading and risk management solutions for commodities including power, oil, gas, coal, metals, agricultural products, and freight. Triple Point Commodity XL(TM) profitably manages the complex, ever-changing requirements of physical and financial markets. Commodity XL integrates front-to-back office and delivers best-of-breed functionality for the supply, trading, marketing and movement of commodities on a single next-generation platform. Triple Point's real-time system helps customers of all sizes streamline trade processing, reduce transaction costs, maximize supply chain efficiencies, precisely measure and manage market risk, evaluate performance, and ensure regulatory and accounting compliance. Named "Software House of the Year" by Energy Risk, Triple Point's award winning solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies, including Amerada Hess, HETCO, Louis Dreyfus, BP, Morgan Stanley, Preem, Tesoro, Valero, OMV, Bharat Petroleum, ENOC, Petronas, Oxy, Cinergy, Marathon Oil, Noble Group, Commerce Energy, ITOCHU, General Maritime, and Glencore. Founded in 1993 and headquartered in Westport, Connecticut, USA, Triple Point serves clients in Asia, Africa, Australia, Europe, North America and South America from its five development and support centers strategically located around the world. More information is available by contacting Rick Nelson at +1.203.291.7979 or [email protected], or at www.tpt.com. |
