Talkin’ with Triple Point
I caught up with Michael Schwartz, chief marketing officer at Triple Point Technology, yesterday to discuss his and his company’s take on the current CTRM market - a take that is decidedly positive.
Triple Point, a company that has been aggressively expanding their capabilities and market reach via acquisition in the last couple of years, has been very successful in selling outside the traditional energy markets and into those trading shops that are not necessarily energy-centric. That’s not to say that they are not closing deals in energy, they clearly are, but they are also increasingly finding new customers in metals and ags. Additionally, according to Mr. Schwartz, they are seeing increased activity in Asia, where the company closed “3 or 4″ new customers in the first quarter of this year, in addition to another “6 or 7″ new customers in Europe and North America. While he said he couldn’t name names at this time, he did say that their new customers in North America included a large Oklahoma based energy company and “very large” consumer foods company.
He indicated that in terms of revenues, Triple Point is up about 60% in the first quarter of 2010 vs. the same period in 2009. While clearly some of the new revenues can be attributed to their recent acquisitions, they are also continuing to sell new Commodity XL licenses into their core markets. Based on these early 2010 results, and a sales pipeline that he describes as “very strong”, he is anticipating that this full year will be a record setting one for revenues…again.