Braskem, one of the world’s largest petrochemical companies, has deployed AspectCTRM trade and risk management at its Netherlands-based naphtha trading operation. The rollout follows a competitive tender process in which positive references for Aspect from existing users played a key role.
At Braskem’s Rotterdam trading site, Aspect’s cloud-delivered, software-as-a-service (SaaS) solution supports core line of business processes including trade capture, position keeping, exposure tracking, transfer cost capture, contract generation and document management.
According to feedstock trader Antonio Tettamanzy, “Aspect was chosen because their team was very thorough in demonstrating how the finished system would fit together and work, and the feedback we got from existing users was very encouraging. We’ve been especially impressed by how quickly the initial deployment went and how soon it began generating meaningful reports.” He adds: “We intend to expand significantly our use of AspectCTRM across our entire front, middle and back office environments.”
Headquartered in Brazil, Braskem operates seven petrochemical crackers in Latin America and it is one of the biggest consumers of naphtha in the world. The trading operation was established in Europe three years ago to be closer to Braskem’s key European feedstock suppliers.
Aspect’s VP of EMEA sales, Yags Savania, said the Braskem win marked a significant milestone for the company in the petrochemicals sector. “We’re proud to be working with a company of Braskem’s standing and reputation. It is especially gratifying to be chosen after a searching evaluation of the industry’s key players and it demonstrates the true value of our solutions and shows confidence in our technology roadmap.”
A subsidiary of the Odebrecht Group, Braskem (www.braskem.com) is the largest thermoplastic resins producer in the Americas, with annual production volume of over 16 million tons, which includes other chemical products and basic petrochemicals, with annual revenue of R$ 54 billion. Driven by its purpose of improving people’s lives and creating sustainable solutions in chemicals and plastics, Braskem is present in more than 70 countries, has around 8,000 Team Members and operates 40 industrial units in Brazil, the United States, Germany and Mexico, the latter in partnership with Mexican company Idesa.
Aspect is a leading global provider of multi-commodity trade, risk and operations management applications delivered Software-as-a-Service (SaaS) in the cloud. With almost 500 customers in 90 countries, it’s one of the fastest growing providers with rapid deployment, affordable subscriptions, and immediate ROI for all size companies. Solutions include AspectCTRM®, a full-featured commodity trading and risk management enterprise suite for front, middle and back office. It’s available in three editions: Lite, Standard and Enterprise, expanding in functionality according to the needs and budgets of clients. Aspect is the only ETRM/CTRM solutions provider with market data and analytics tools delivered with its trade and risk functions on the same platform. This provides users with a seamless packaged solution beginning with pre-trade pricing analysis and market assessments via AspectDSC. Aspect’s solutions are available on desktop, tablets and mobile devices and through its new Aspect Partner Program (APP).