ENERGY TRADING & RISK MANAGEMENT (ETRM) SYSTEMS

Key Elements Include:

• Develop a system requirements list based on needs to support the Energy Trading Risk Management framework.

  • Transaction capture.

  • Position reporting.

  • Connection to other support departments.

  • Statistical calculations and modeling capability.

• Assess whether the requirements can be met with existing internal systems plus new enhancements, or whether a vendor solution is required.

• Create a project team to determine the internal solution or to evaluate a vendor solution.

• Invite vendors to make system presentations.

• Decide on the external solution if required.

• Establish an internal implementation team to work with the vendor implementation team.

• Create a project plan for system implementation.