Orchestrade Powers into Energy on the back of Performance and Scalability
A week or so ago, I caught up with Dale Emmerson of Orchestrade. He was keen to tell me how things were going, and how they had achieved an element of better name recognition in energy and were now extremely busy as a result. The vendor is involved in several large RFP processes in Asia, north America and Europe with top tier energy and commodity firms, he told me, pointing out that there was a legacy replacement trend that was growing rapidly in the industry. This trend was driven by increased complexities, greater need to cope with large trade volumes and decision making, and volatilities in the business such that buyers were seeking near real-time capabilities more than ever before.
Orchestrade has a sponsor customer in the form of Engie and there it has gone live with a variety of new functionalities including PPAs. “We now manage the energy trading portfolio from end-to-end – including renewables and volume variability,” he said. However, he claims that it is Orchestrade’s ability to handle huge quantities of data that truly set it apart, with the ability to support hundreds of thousands of power forecasts at 15-minute or shorter increments, five to twenty years forward. He also cited 500 trades per second as a capability of the solution. “This is a stepwise change over legacy solutions in the market and the markets are taking note,” he told me. “Scalability and performance are increasingly critical in today’s energy and commodity markets and these trade volumes and risk complications can all be handled by Orchestrade as a result of our having some of the largest capital markets players as our customers,” he said.
Dale certainly sees a legacy system replacement and augmentation software market developing around all these key themes – something that other vendors have also noted to us over the last year or so. In terms of augmentation of legacy, Dale particularly sees renewables and certificate support as well as structured products and risk management being an area of distinct opportunity as well, as Orchestrade clearly has developed this capability. “Things like PPAs and renewable products are simply not well supported at scale as yet in many legacy solutions,” he said. Dale also sees a lot of interest on the hedge fund side of things where Orchestrade also has a track record.
Keen to cite its modern event-driven platform and technologies, Dale also pointed out that Orchestrade supports 1,200 or more users at its existing energy customer, and he is keen to promote its performance and scalability – especially by comparison to older solutions on the market. However, the solution also covers a lot of functional ground in energy already and, as a relatively new entrant into energy and commodities, there will be a lot of interest in the solution.
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