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CTRMCubed Happy With its Progress

I checked in recently with Simon Piercy, CEO of CTRMCubed and the man behind the development of the “modern cloud E/CTRM designed for the future. Lightning fast, reliable and scalable, yet simple to get started and even easier to operate.” The idea of a multi-tenanted, instantly available E/CTRM complete with an App store, is one that he and his company have been working towards for around 4-years now. So how was it going?

I found Simon in something of a contented mood. CTRMcubed has a reasonable number of users paying monthly user fees these days mostly in smaller commodity trading firms and he sees his current job as to keep these early adopters happy. That means that every month, a new version of the software is made available with incremental features and functions. “And with each new release, the software becomes more attractive to other potential users,” he said. Simon is also quite happy with the way the app store is evolving telling me it had just welcomed a Morningstar app for prices to the fold.

CTRMCubed offers its service on a subscription basis at the user level however, it has developed the concept of a minimum number of users that must sign up to use the solution paying a monthly usage fee. “Smaller operators with a handful of users are our target,” he told me. It’s a particularly ‘hot’ market right now with significant volatilities driving interest, he said.  “We set out with a set of principles and a target market in mind, and we are sticking to our guns making incremental progress at a pace we can handle.” he said. “Our uptime statistics are great with no major outages, and we continue to improve the software.”

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CTRMCubed’s offer of an instantly available, pay as you go, solution is likely an ideal model for smaller trading firms who would prefer a commercial solution over spreadsheets or similar. Yet it can also serve as an interim solution or as a solution for a local office or a specific desk at a larger trader as well. In the cloud and on Azure, the solution can be attractive to the bottom end of the market as well as larger entities as mentioned above. We will check in again with Simon in a quarter or so and track its progress.