Blog News Events Publications Directory Community Media

Orchestrade – A New Entrant in ETRM

Recently, I was contacted by Catherine Biewer of Orchestrade who was very keen to tell us about its solution and its ETRM coverage. Orchestrade has been focused on other asset classes offering its trading and risk management technology into the capital markets space where it has seen some success with over 40 customers globally. Its goal, I was told, was to deliver an open platform for the best cross-asset, front-to-back trading, and risk management for financial institutions. Today, Orchestrade has four offices in Paris, London, San Francisco, and New York, and around 100 people serving its product and customers.

Catherine was quick to describe Orchestrade as a modern, open, business event-driven, cross-asset, front-to-back, trading and risk management platform that can be up and running in weeks, not years. It produces accurate results and all in real-time she told me. “We put our clients demands first and we deliver on what we promise and that is the mantra of our business and reason for success to date,” she said. With an open architecture, fully  API based, the solution is very flexible and adaptable.

In 2016, it was adopted by Engie who were looking for a more modern platform and were seeking to replace an inhouse custom solution. “Orchestrade and Engie worked together to build out the energy-specific functionality,” said Mr. Romain Thuaudet, ETRM Product Manager for Orchestrade. The result is now ready for the broader energy market and is currently used by Engie and a couple of hedge fund customers.  Covering physical and financial natural gas, power, and certificates as well as weather, coal, oil and freight financial instruments, FX, IR and FI, the platform is set to offer a more modern alternative to some of the high-end platforms on the market currently. Being on modern technology, written in C# with Python support and providing real-time calculations, supporting workflow and being event-driven, the platform will no doubt prove to be of interest.

AdvertisingFendahl CTRM Technology
AdvertisingAmphora CTRM

According to Catherine, another key selling point is speed of implementation appoint echoed by Romain who explained that major version upgrades are performed by clients in 4-6 weeks as opposed to the months taken for competing platforms. “We are continuously improving the product and deliver release updates monthly to those who want to take them,” he told me.

At this early stage, it seems as if Orchestrade’s entry in the world of ETRM has promise. Workflow, being event-driven, offering real-time calculations and a modern, open architecture, are certainly features of interest as is, we suspect, a modern take on green and renewable certificates that is included in the solution. The solution is in use within European energy markets right now and will undoubtedly continue to add functionality through time. We will be checking back with Orchestrade in the future to find out more and see how things are going.