XXXX? Commodity Derivatives
Industry Challenges
The global Commodity Derivatives market is a dynamic entity that is continuously transforming to fit the needs and trends of consumers, even with the general downturn in the use of derivatives as financial trading instruments over the last year.
With fuel, precious metal and agricultural product prices impacting every facet of the economy, commodities and their associated derivatives are being traded more widely than ever by diverse financial market participants. There is a greater focus on managing risks, particularly volatility. In addition to traditional consumers in the commodities marketplace, new entrants – hedge funds, pension fund managers and alternative investment managers serving the retail sector – are rushing to this market to take advantage of the potential for greater returns.
As new commodity sectors are introduced to the market – weather, freight, carbon allowances, – new regulations have emerged to set standards and safeguards for investors. The proposed global implementation of various Greenhouse Gas cap-and-trade regulations aimed at reducing noxious emissions have fuelled added interest in an already rapidly growing segment in the Commodity market. Businesses of all types are now being thrust into the commodities markets, increasing the customer base and trading volumes for sell-side commodity desks.
XXXX Commodity Derivatives
Carbon trading is predicted to become the world’s largest traded commodity in the near future, and XXXX’s cutting edge technology is ready to meet the requirements of its participants. The Carbon markets highlight the trend towards increasing trading volumes, central clearing of OTC derivatives and the introduction of new instrument types seen across all commodity sectors. These inter-related factors are taxing the ability of legacy systems to price, manage risk, and process commodities and commodity derivatives. The XXXX Commodity Derivatives solution offers the flexibility, openness and scalability that most legacy systems lack in adapting to the rapidly changing commodities market, or the interfaces to connect to the major carbon trading exchanges around the globe.
Integrated Cross-asset trade lifecycle
The XXXX Commodity Derivatives software solution is a fully integrated component of the XXXX application, utilizing the same proven back office and risk management functionality. XXXX Commodity Derivatives support the complete trade lifecycle for financial commodities for a wide range of OTC and exchange traded products in a complete cross-asset solution.
XXXX benefits include:
Front-to-Back
True cross-asset coverage
Full instrument and commodity sector support – energy, base metals, precious metals, agriculture and livestock, weather, freight, emissions
Integrated analytical risk framework
Modern open and highly scalable architecture
Flexibility in creating and adding new commodities
Real-time market data
Intuitive and efficient trade entry – from vanilla to exotic products
Back Office STP
Confirmation, messaging, processing, accounting
Rapid deployment
XXXX Fast-Track
SaaS
XXXX Workstation
The XXXX Workstation provides centralized user-friendly control for managing all Commodity Derivatives trading. Traders have access to real-time views of constituent information for P&L, market risk, simulation results, and trading activity for a commodity portfolio.
Simplified commodities trading
Generate market standard forward curves and volatility surfaces using advanced algorithms. Specialized trade entry screens provide you with accurate pricing and fast, flexible trade capture. XXXX’s flexible trade architecture allows for easy configuration of fixing dates and payment schedules for OTC derivatives ranging from bullet and Asian swaps to complex “one-off” deals. Flexible averaging and rounding policies enable you to match multiple counterparty settlement conventions, including settlement in the currency of your choice. The configuration of most Exchange Traded Products comes “out-of-the-box”, and adding new instruments is incredible simple.
Complete processing support
XXXX’s Commodity Derivatives software solution is fully integrated with the award-winning XXXX back office system. Commodities can be processed on the same platform as other derivatives – treasury, or securities products. Leverage the configurable workflow of XXXX’s Commodity Derivatives software to drive straight-through processing (STP). Automatically generate confirmations, payments, and account postings; and benefit from user access control via permissions and full audit trails for system use.
XXXX?商品衍生品管理系统
行业挑战
全球商品衍生品市场是一个动态的实体，它无时无刻不在演变发展，以适应用户的需求与趋势，即便在去年衍生品作为金融交易工具的使用普遍锐减的情况下仍是如此。随着石油、贵金属和农产品价格对经济各个方面所产生的影响，多元化金融市场参与者比任何时候都更加广泛地在进行着商品及其相关衍生品的交易，而人们对风险管理、尤其是对波动性的管理也更为重视。除了商品市场的传统用户外，对冲基金、养老基金的经理人以及服务于零售部门的另类投资经理人这些新来者也竞相涌入这一市场，以挖掘它的潜力、获取更高的回报。
随着新的商品种类（天气衍生品、运费期权、碳排放配额）推向市场，新的管制也纷纷出台，以订立标准并保护投资者。当前为减少有害排放已经提议在全球实施各种温室气体总量管制与排放交易规制，因而，对于商品市场中本已在急剧增长的这一部分，人们的兴趣更加与日俱增，各种类型的企业都在争先恐后地挤入商品市场，扩大了销售方商品柜台的客户基础和交易额。
XXXX?商品衍生品
据估计，在不远的将来，碳配额交易将成为世界上交易额最大的商品，而XXXX公司的先锋技术已经准备充分，以满足它的交易者的要求。碳配额市场凸显了OTC衍生品市场交易额与中央清算不断扩大的趋势，以及所有商品部门中各种工具的推陈出新。这些相互交织的因素不断要求提高旧有系统定价、管理风险以及处理商品和商品衍生品的能力。“XXXX商品衍生品管理系统”解决方案在适应瞬息万变的商品市场方面，或是在与全球各地主要碳排放交易所的接口相连方面，都能提供旧有系统所不具备的灵活性、开放性与扩展性。
一体化的交叉资产交易生命周期
“XXXX商品衍生品管理系统”软件解决方案是XXXX应用软件中一个完全集成的部分，它同样采用了经过实践考验的后台和风险管理功能。这套管理系统在一套完全跨越资产类别的解决方案中为众多的柜台交易和场内交易产品而支持金融商品的完整交易周期。
XXXX公司管理系统的优点包括：
从头至尾的管理
完全实现跨越资产级别的覆盖范围；
支持所有的工具与商品类别，包括能源、贱金属、贵金属、农畜产品、天气、运费、排放额；
具备集成的分析风险框架；
采用扩展性极高的现代化开放式架构；
在创建和添加新商品方面灵活方便；
提供实时市场数据；
从单纯产品到奇异产品的交易条目直观而高效；
后台直通式处理流程（STP）
确认、消息传递、处理、核算；
迅速配置
XXXX快轨
软件即服务（SaaS）
“XXXX工作站”
“XXXX工作站”为管理所有的商品衍生品交易而提供中枢化的用户友好控制。交易员能够访问商品投资组合在盈亏、市场风险、仿真结果及交易活动这类构成信息的实时画面。
简化的商品交易
这套系统采用高级算法来创建市场标准远期曲线和波动曲面。专业化的交易条目画面为用户提供准确的定价以及快速、灵活的交易捕捉能力。XXXX公司灵活的交易架构使得用户能够方便地针对从一次还本和亚洲掉期（资产掉期？）到复杂的“一次过”（one-off）交易这类OTC衍生品来进行定价日与付款进度的配置。灵活的求平均策略与修约策略使用户能够匹配多种对方手结算约定，包括按用户选择的货币来进行结算。大多数场内交易产品的配置都属于“即选即用”式（out-of-the-box），而且新工具的添加简单之至。
完整的流程处理支持
XXXX公司的商品衍生品管理软件解决方案实现了与XXXX公司一流后台系统的完全整合。商品能够与其它衍生品（国债或证券产品）在同一个平台上得到处理。用户可以利用这套软件的可配置工作流来迅速完成直通式处理流程（STP），还可以让软件自动生成确认、付款和过帐记录。此外，系统使用的许可及完全审计跟踪这类用户访问控制也为客户带来了便利。 原件下载：  |
