Old Lane Hedge Fund Selects Triple Point Commodity XL For Trading, Risk Management, and Logistics; Series of Recent Financial Services Wins Prove Triple Point as the Premier Commodity Trading Solution for Financial Institutions.WESTPORT, Conn. -- Triple Point Technology, the only provider of real-time, multi-commodity trading and risk management solutions, announces today that Old Lane, LP, a New York-based investment firm, has chosen Triple Point's software solution for trading energy commodities and related derivative instruments Derivative instruments Contracts such as options and futures whose price is derived from the price of an underlying financial asset. . Building on the momentum of recent Triple Point wins at Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. and other major financial institutions, the selection by Old Lane reinforces Triple Point's position as the leading solution for financial organizations. Old Lane, which launched a multi-asset and multi-commodity hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" in April, was founded last year by a group of former top executives at Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. , a long-time Triple Point client. After an extensive
search, Old Lane chose Triple Point because it offered the only solution
that met all the firm's requirements. Old Lane wanted to implement
a system rapidly--in 3 months--and required a single platform capable of
supporting both physical and financial trading of energy commodities,
including power, natural gas, and oil; was intuitive to use for diverse
users; and could easily scale to meet the fund's future needs. The
firm licensed Triple Point's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Commodity XL, in
January and went live with the full solution at the beginning of this
month.
"We are very excited to have deployed Commodity XL for an industry-leading hedge fund like Old Lane. Our financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. clients demand the most from us. Functionally, they have the most sophisticated requirements for pricing, risk management, and decision support and analysis. Technically, they demand real-time processing Noun 1. real-time processing - data processing fast enough to keep up with an outside process real-time operation data processing - (computer science) a series of operations on data by a computer in order to retrieve or transform or classify information and unmatched scalability driven by high transaction volumes and complex trading strategies In finance, a trading strategy (see also trading system) is a predefined set of rules to apply. Usually, this refers to a means used to replicate an option in order to give it an arbitrage free value in the sense that the cost of buying some financial assets to give the same ," said Peter F. Armstrong, president and 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. , Triple Point Technology. "We invest over 25% of our revenues in R&D to meet these and future demands, and we're happy to see it pay off." Built specifically from the ground up for high-volume, complex transaction management organizations, Triple Point Commodity XL is a true next-generation solution. It provides the essential capabilities for commodity organizations trading in today's highly volatile environment: multi-commodity capabilities, real-time integration of physical and financial positions, comprehensive risk management, and scalability. Comprised of a family of commodity-specific products that can be deployed alone or in seamless combination with each other, Commodity XL manages every aspect of global cross-industry supply, trading, marketing, and logistics operations. Triple Point also offers an ASP model appropriate for smaller hedge funds. "As we win more and more premier financial institution deals, not only do we know we're on the right track with our current solution, but we ensure product leadership for years to come," said Armstrong. About Triple Point Technology Inc. Triple Point Technology is the leader in trading, risk management, scheduling and logistics solutions for commodities, including power, oil, gas, coal, metals, agricultural products, and freight. Triple Point Commodity XL profitably integrates physical and financial markets from the front-to-back office for all commodities on a real-time next-generation platform. Triple Point's award-winning solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies. Founded in 1993, and headquartered in Westport, Connecticut Westport is a coastal town in Fairfield County, Connecticut, in the United States. The 2004 population estimate was 26,644. The town is as affluent as other expensive Fairfield County towns, boasting a per capita income of more than $70,000. , USA, Triple Point serves clients from five development and support centers located around the globe. More information is available at www.tpt.com. |
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