China Aviation Oil -Singapore- Corporation Ltd -CAO- Selects OILspace ASPect Office Suite for Risk, Position and Operations Management Requirements.Business Editors SINGAPORE & NEW YORK--(BUSINESS WIRE)--June 11, 2002 The management of OILspace is pleased to announce that China Aviation Oil (CAO) has chosen the ASPect Office(TM) suite to track and manage its jet fuel procurement and fast expanding, international products trading requirements. The ASPect Office suite will enable CAO to use the latest, most sophisticated tools available to manage their positions, risks and operations - and to accomplish this using any PC with a browser and Internet access See how to access the Internet. . In an effort to adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. good corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , CAO has set up a Risk Management Committee to monitor and control the risk of both physical and paper trading Paper trading (sometimes also called "virtual trading") is a simulated trading process in which would-be investors can 'practice' investing without committing real money. and financing. The Risk Management Committee has a dedicated Chairman and a team of senior executive members assigned with responsibilities to examine a range of risk issues including market risk, credit risk, liquidity risk and operational risk. CAO has engaged Ernst & Young to develop a comprehensive Risk Management Procedure Manual modeled on the best industry practices used by the major international oil companies. Ernst & Young were also tasked to assess a suitable trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. appropriate to CAO's needs and also complement the above risk controls considerations. Having evaluated the different systems on the market, the ASPect Office suite stands out as the best solution to support the diverse trading, risk and operations requirements of the firm, In fact, OILspace is confident that CAO's adoption of the ASPect Office suite will play an important role in CAO's ongoing strategy and in facilitating the aggressive expansion of CAO in the future. At the outset, CAO will be using a wide range of the ASPect Office suite's features including deal capture, real-time position keeping, logistics tracking, and the suite's risk management tools. CAO will take advantage of these features with immediate effect and without paying the expensive implementation costs and consultancy fees consultancy fee n → honoraires mpl d'expert consultancy fee n → onorario di consulenza associated with traditional risk management software installation projects. This is due to the ASPect Office suite's Application Service technology, which means that data and software are securely stored centrally and accessed through any web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . "We are delighted that China Aviation has chosen the ASPect Office suite, a decision which will enable CAO to utilize the most advanced technology and modern risk analytics available today" said Steve Hellman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of OILspace. "The ASPect Office suite offers CAO increased control over their front, mid and back office operations and emphasizes their ability to compete in the global physical oil marketplace." Over the longer term, CAO will be integrating its existing accounting and legacy information systems into the ASPect environment, as all OILspace services are built on a TIBCO TIBCO The Information Bus Company multi-casting messaging network. About OILspace OILspace (www.oilspace.com) provides secure online services to physical oil professionals, empowering them to attain better business results. Inside OILspace these professionals can: - Communicate with colleagues, customers and partners - Access news, prices and market information from leading oil industry sources - Negotiate and execute contracts - Secure shipping, financial and other critical services - Manage risk, finances and operations The OILspace environment's powerful analytical tools help oil professionals discover new opportunities. With OILspace oil professionals gain an overall perspective on their business- helping them find new ways to streamline operations, improve productivity, and maximize the value of all their assets. OILspace Inc. has headquarters in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and maintains offices in London, Singapore, Dubai, Moscow, Caracas and Buenos Aires Buenos Aires (bwā`nəs ī`rēz, âr`ēz, Span. bwā`nōs ī`rās), city and federal district (1991 pop. . You can learn more about OILspace at www.oilspace.com. OILspace - the resource enriched. OILspace, Nexus, ASPect, TeamWorks, and OILwatch, are registered trademarks of OILspace, Inc. All other names are trademarks and/or registered trademarks of their respective owners. |
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