Eka Targets Enterprise Risk with Eka.Risk
Last week I had a presentation and short demonstration of Eka’s recently announced new risk product – Eka.Risk. Eka.Risk is aimed at solving the enterprise risk issue in commodities that often occurs when a firm has more than one trade capture system (for different commodities or regions for example) as well as data in spreadsheets and other systems. Yes, most CTRM or ETRM solutions come armed with risk functionality but that functionality is restricted to dealing simply with that data captured by that system. Eka’s vision is to provide a platform that can help control and report risk irrespective of what systems are used to capture the data.
Not surprisingly then, the first aspect of the solution is its API and the ability to access data stored in other systems using its integration layer. Eka does this by exposing standard web services and data model to streamline the interfacing process. It can support standard web services or direct data transfer, can allow simultaneous import of data from multiple sources, incremental loading and, very importantly, drill down into the data source. It also allows a comprehensive set of data to be imported as might be expected in order to cover various risk aspects including trade and inventory position, summary realized P&L, credit information, freight information, market data and master set up data.
Once the data is being continuously extracted from various systems across the enterprise, the next requirement is to be able to calculate and report on various risk measures. Eka does this using three risk engines included in the product for position, P&L and risk exposure. The results are displayed to the user in a graphical and intuitive manner and allow drill down even into the source data and system. Limits can be set in multiple dimensions by the user and tracked in near real-time.
In introducing Eka.Risk, the company has entered a slightly different market where it can overlay other system infrastructure including competing E/CTRM solutions. It has set out to solve a real problem and based on the short demo, it looks to have a good start on doing that.
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