Second Major Financial Institution Win in Recent Months for Triple Point; Commodity XL Proves to Be the Most Complete Solution for Financial Institutions.WESTPORT, Conn. -- Triple Point Technology, the leading global supplier of cross-industry software platforms for the supply, trading, marketing and movement of commodities, announced today that 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. will deploy Triple Point's Commodity XL(TM) next-generation software solution to manage its physical and financial trading, risk management, scheduling and logistics for power, natural gas, oil and coal markets. "This is the second leading financial institution to choose Triple Point in recent months," said Richard Nelson, vice president, sales, Triple Point. "Commodity XL has proven to be the most complete solution for financial institutions." "We invest substantially in R&D to ensure product leadership," said Peter F. Armstrong, president, Triple Point. "It's satisfying to see financial institutions recognizing Commodity XL's key advantages in functionality such as advanced risk management techniques, support for structured products and complex derivative instruments Derivative instruments Contracts such as options and futures whose price is derived from the price of an underlying financial asset. , and unparalleled scalability." Triple Point has had a string of significant successes in 2005 including Lehman Brothers, Noble Group, Commerce Energy, OMV OMV Open Market Value (automobiles) OMV Orbital Maneuvering Vehicle OMV Oblates of the Virgin Mary (religious order) OMV Österr Mineralöl Verwaltung (Austrian Mineral Oil Administration) , Westar, Louis Dreyfus, BPCL BPCL Bharat Petroleum Corporation Limited , General Maritime. In addition to companies choosing Commodity XL, Triple Point has received widespread recognition in 2005 for its solutions including "Software House of the Year" and "Top Software Package" by Energy Risk magazine, and the Gold Award for "Excellence in Technology - Risk Management and Compliance" by Commodities Now magazine. Triple Point was named to the Deloitte Fast 50 for a record-breaking eight years in a row, and received its second Quality Innovation Award for delivering superior product functionality and customer results. About Triple Point 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(TM) profitably manages the complex, ever-changing requirements of physical and financial markets. Commodity XL integrates front-to-back office and delivers best-of-breed functionality for the supply, trading, marketing and movement of commodities on a single next-generation platform. Triple Point's real-time system helps customers of all sizes streamline trade processing, reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , maximize supply chain efficiencies, precisely measure and manage market risk, evaluate performance, and ensure regulatory and accounting compliance. Named "Software House of the Year" by Energy Risk, 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 including Amerada Hess, HETCO, Louis Dreyfus, BP, Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. , Preem, Tesoro, Valero, OMV, BPCL, ConocoPhillips, Petronas, Oxy, Cinergy, Marathon Oil Marathon Oil Corporation NYSE: MRO, based in Houston, Texas, is a worldwide oil and natural gas exploration and production company. Principal exploration activities are in the United States, Norway, Equatorial Guinea, Angola and Canada. , Noble Group, Commerce Energy, ITOCHU, General Maritime and Glencore. 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 in Asia, Africa, Australia, Europe, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and South America from its five development and support centers strategically located around the world. More information is available at www.tpt.com. |
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