Bnagalore, India (PressExposure) October 13, 2009 -- Eka, the leading provider of multi-commodity trade and risk management software, announces the release of its product for managing metal concentrates and ferro alloys. Highly flexible in its design and functionality, the solution greatly helps towardsbetter administration of concentrate and ferro alloy contracts, from trade capture, pricing, shipment, inventory, assaying andumpiring, valuations, price risk and position management through to settlements and invoicing. The new functionality is aimed toprovide various metal industry participants, including mines, smelters, marketers, traders and processors, with a complete,modern and end-to-end solution for their business including handling of raw material. The fully integrated solution includes Eka's core functionality for physical trading, derivatives, risk, position, P&L, logistics, inventory, tolling, finance, reporting and business intelligence.
According to Manav Garg, Eka's CEO & Founder, "We saw a huge gap in the market. Existing solutions come nowhere close to the real need of clients - a high degree of solution flexibility, modern scalable technologies, and complete integration with core risk management, logistics and trading operations. Our offering addresses all these needs and more. The solution is based on indepthresearch and involved active participation from actual users. The LME week is the perfect opportunity for us to make such a major announcement, and we look forward to showcasing the product to our customers in the months to come".
Key features of the solution include:
â¢ Contract management: Capture of important terms including counterparty details, product composition, pricing rules, penalties & payables, TC/RC, splitting limits, umpire rules, payment and delivery conditions, etc
â¢ Assaying: Recording multiple assays (default, shipment, buyer, seller, umpire, etc), application of splitting limits and umpire rules
â¢ Settlements: Automatic calculations incorporating contract rules and assay results, provisional and final invoicing, partial and pre-payments, etc
â¢ Position management: Comprehensive views including open positions per element, inventory, price risk, hedges, etc
â¢ Mark to market valuations: Highly accurate M2M calculations capturing all payables, penalties, deductions, LME, location and quality differentials, costs and accruals, etc
Eka's metal trading and risk management solution is today widely acknowledged as the system of choice for the metals industry.The solution provides a single platform for managing operations across base metals, concentrates, ferro-alloys, steel and scrap,and has been designed to meet the needs of different participants of the metals supply chain, including mines, producers,fabricators, trading houses, distributors, as well as recyclers. It covers the entire lifecycle of both physical and financial contracts,combining front, middle and back office functionality into a powerful, feature-rich system.