News Column

Baringa Partners and OpenLink Partnership Sees Record Implementation for TrailStone

June 12, 2014

New trading system operational within 12 weeks

LONDON & NEW YORK--(BUSINESS WIRE)-- Baringa Partners, the specialist management consultancy serving the commodities, energy and financial services sectors, has completed a record-breaking system implementation for new commodity trading venture TrailStone. The project was delivered in partnership with OpenLink, the global leader in Transaction Lifecycle Management (TLM) software for the commodity, energy and financial services industries.

Founded in May 2013 and backed by private-equity energy firm Riverstone, TrailStone currently operates out of London, Berlin, Sydney, Austin and New York.

Selected on the strength of their combined experience and reputation, Baringa Partners was engaged to implement OpenLink’s award-winning Endur commodity trading and risk management (CTRM) platform in an accelerated time frame. Baringa Partners ran a complex programme of work, which saw individual streams of the Endur platform brought online in concurrent stages. An innovative delivery approach utilising OpenLink’s new standard content model, consisting of pre-defined configurations for trading systems, saw the first phase - Continental Europe power - operational within 12 weeks.

Troy Martin, COO at TrailStone, said of the project: “As a start-up organisation, TrailStone needed to engage trusted partners that could get us operational in an ambitious timeframe. Baringa Partners and OpenLink far exceeded our expectations. We were thoroughly impressed by their collaborative and innovative approach, which enabled us to begin trading within three months of start-up.”

The TrailStone programme was the first major European implementation of OpenLink’s standard content implementation model which enables market participants to fully execute and extend their trading to new volumes, commodities or markets, and be rapidly live. The first release to go live was in August last year. Five further releases have been delivered in 13-14 week phases over the last 12 months using the same delivery model, with the final standard content release delivered in April 2014. The live scope now covers: European power, financial base, precious metals and financial oil, plus coal and agricultural products. This programme has been a record time-frame implementation for both Baringa Partners and OpenLink.

TrailStone was also the first organisation to receive Version 12 of the Endur platform, which includes new features such as desktop enhancements and mobile applications, trader and management dashboards, reconciliation management reporting and state-of-the-art business intelligence functionality.

Nicola Carter, Director at Baringa Partners, said of the project: “Our wealth of system integration experience enabled us to take a radical approach to the project delivery while remaining flexible to TrailStone’s needs. This was complemented by OpenLink’s standard content implementation model, which allowed us to operate at an accelerated rate from the very start. The success of this project is testament to the combined efforts of Baringa Partners, OpenLink and TrailStone and the dedication and ownership of the teams involved. This enabled the TrailStone project to be completed on time and under budget, without compromising on the quality of project delivery.”

John Palmiero, Executive Vice President, Global Field Operations at OpenLink, added: “As margins decline and regulatory requirements increase, automation is more important than ever. The traditional market view has been that system implementations are both time and cost intensive, however OpenLink’s standard content implementation model enables market participants to get up and running within a matter of weeks. As a result we are finding that this method of delivery is becoming increasingly favourable.”

About Baringa Partners

Baringa Partners LLP is an award-winning management consultancy that specialises in the energy, financial services and utilities markets in the UK and continental Europe. It partners with organisations when they are developing and delivering key elements of their business strategy, as well as working extensively with government and regulators providing policy and advisory services. Baringa works with its clients either to implement new or optimise existing business capabilities relating to their people, processes and technology.

Baringa is recognised both in the UK and internationally for its unique culture for which it has been awarded a number of accolades and continues to reaffirm its status as a leading people-centred organisation. www.baringa.com

About OpenLink

Founded in 1992, OpenLink (www.OpenLink.com) is the global leader in Transaction Lifecycle Management (TLM) software for the commodity, energy and financial services industries. OpenLink's products address portfolio management, trading, risk management, and operations processing for both financial and physical assets.

Owned by leading private equity investment firm Hellman & Friedman, OpenLink is a global software and services business that has grown both organically and through strategic acquisitions, to achieve revenues in excess of $300 million. The company serves over 500 clients, including 12 of the world's largest commodity and energy companies, 9 of the largest financial institutions, and 11 of the largest central banks. OpenLink has 1,300 employees in 12 global offices on five continents, with headquarters outside New York City and field offices in Houston, London, Berlin, Vienna, Toronto, Moscow, SÃo Paulo, Singapore, Dubai, and Sydney.

OpenLink has received numerous industry awards and recognition, including citations as the industry leader by Gartner and first-in-class ranking by Energy Risk magazine for Commodity/Energy Trading and Risk Management (C/ETRM) systems.



Baringa

Kate Garratt, +44 20 7242 8867

baringa@aspectuspr.com

or

OpenLink

Leonie Alsop, +44 (0)779581 5083

SVP, Global Head of Marketing

leonie.alsop@openlink.com

Source: OpenLink


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