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Oct 28 2014

Sapient Global Markets Collaborates with Leading European Energy Firm Statkraft to Deliver New ETRM Platform in 9 Months

 

Rapid transaction growth required new Murex-based platform to deliver improved trading, settlement and risk processes for Europe’s largest producer of renewable energy 

 

October 28, 2014 — Boston, USA — Sapient Global Markets, a division of Sapient (NASDAQ: SAPE), and a leading global provider of business technology and consulting services for the capital and commodity markets, today announced the successful on time completion of a major Energy Trading and Risk Management (ETRM) project for Norwegian power company, Statkraft.

 

Statkraft is Europe’s largest generator of renewable energy, owning, producing and developing hydropower, wind power, gas power and district heating. The firm had used Murex software for over a decade as its ETRM platform and decided in mid-2013 to implement the latest Murex MX.3 platform.

 

The requirement for a new ETRMplatform was identified due to a significant increase in the deals being captured and processed by the system’s 170 users. Statkraft had also acknowledged the need for the ETRM platform to form part of a wider operational transformational project that would offer the scalability and systems performance to provide a foundation for future business growth. As such, the platform would manage more complex products and pricing routines, as well as new risk and collateral functions. The final implementation enables improved P&L representation and intraday-VaR calculations for Statkraft.

 

Sapient Global Markets collaborated with Statkraft and Murex across operations in Amsterdam, Düsseldorf, Istanbul, London, Oslo, Stockholm and Trondheim to plan, configure, deliver and manage a smooth transition to the new ETRM platform. The project involved migrating and testing interfaces to more than 20 systems, reconciling more than a million deals and setting up a large number of simulation views and reports.

 

“The Statkraft project was a milestone for Sapient Global Markets, being the first Murex MX.3 migration in the global commodities world. It was highly complex and required a collaborative effort across multiple locations and time zones to ensure success,” said Bernd Harnisch, Vice President Business Consulting at Sapient Global Markets. “Utilizing our extensive project management methodologies and structured testing approach we delivered the new ETRM platform in just nine months. As a result, Statkraft has gained a highly scalable, functionally rich platform that will help to improve overall process and business efficiency, and meet future business challenges.”

 

“This has been an outstanding project and is a major step forward to support further business growth and deliver efficiency gains for Statkraft’s trading departments,” commented Ronald van Eldik, Managing Director at Statkraft. “The constructive cooperation between many cross-functional departments, the huge effort and commitment of the key project team members and the excellent project management has paid off.”

 

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About Sapient Global Markets:

 

Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Calgary, Chicago, Dusseldorf, Frankfurt, Houston, London, Los Angeles, Milan, New York, Singapore, Washington D.C. and Zurich, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more information, visit www.sapientglobalmarkets.com.

 

About Statkraft:

Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, gas-fired power and district heating and is a global player in energy market operations. Statkraft has 3600 employees in more than 20 countries.

 

Safe Harbor Statement

 

This press release contains forward-looking statements — in particular, those related to the development of software and related services and potential sales to clients — that involve a number of risks and uncertainties. All forward looking statements are based upon current expectations and beliefs and various assumptions. Actual results could differ materially from management's expectations and the forward-looking statements contained in this release. A number of factors could cause actual events to differ materially from those indicated, including, without limitation: a reduction in the demand for the company's services in light of the current or future economic environment; the company's ability to accurately set fees for and complete projects on a timely basis; the acceptance of the company's services; changes in Federal government spending priorities, and other risks and uncertainties as set forth in the company's filings with the SEC, including without limitation the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements for any reason, including to reflect events or circumstances after the date on which such statements are made or to reflect the occurrence of anticipated or unanticipated events or circumstances, except as required by law.

 

Sapient is a registered service mark of Sapient Corporation.

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