I recently had a briefing from Aspect Enterprise about its ambitions to add metals functionality particularly for concentrates. Today, I was given a quick update. Aspect is targeting a fully functional multi-commodity version of its platform by Q3/Q4 and seems to have made significant progress already in steel, precious metals and base metals. As well as having an existing metals trading customer (Orka, a Geneva-based aluminium & zinc trader), Aspect is working with a couple of large trading houses on furthering its metals functionality. While none of these can be named at this time, Aspect has been able to add quite a lot of functionality as a result. It will be interesting to see how the metals market reacts to the entry of a low cost cloud solution.
In particular, it continues to add LME functionality for both physical base metal trades and LME hedges. It already has LME calendars, pricing uploads and dedicated metal cards for positions across metals as per LME trading requirements. A large trader has also been working with Aspect to help it add further functions in the areas of OTC precious metals and complex forward curve bootstrapping. On Concentrates, Aspect is now working on complex allocations and mapping trades from end to end to include complex blending and hedge tracking for blended lots.