Triple Point Announces a Couple of New Deals
Despite a rather challenging market environment, Triple Point continues to knock down new business, with a couple of new deals recently announced.
Bruce Power, a Canadian-based nuclear generation company involved in the wholesale and retail power markets in the Ontario region, has licensed Commodity XL™ to support the entirety of their generation and marketing operations. In addition to Commodity XL™ for Power, they also picked up Hedge Accounting, Fair Value Disclosure, Credit Risk and Credit Analytics, Commodity XL™ Xchange, Management Dashboard and Power Scheduling ‘Visual Cockpit’™.
A nice win across for the entirety of Triple Point’s product family.
The company also announced that Tullow, one of the largest independent oil and gas exploration companies in Europe, has selected Commodity XL for Hedge Accounting™ to ensure compliance with IAS 39 disclosure and reporting for crude oil and natural gas. According to the press release, “Tullow has operations in Africa, Europe, South Asia and South America with current production of 60,000 barrels of oil equivalent per day (boepd). Founded in 1985, Tullow is headquartered in London and employs over 540 people worldwide.”