Glencore Energy Implements ZEMA's Data Management and Analysis Suite
July 15, 2010 – Richmond, B.C. − ZE PowerGroup Inc. (ZE), the developer of award-winning ZEMA Suite™, announced today that Glencore Energy has selected ZEMA to support their Risk Management and Trading activities. The ZEMA data management and analysis solution will enable Glencore to capture, centralize and validate their market data across numerous asset classes, starting with oil and gas, and potentially adding metals and soft commodity markets. The implementation will benefit a number of Glencore’s trading offices, including London, Stamford, Houston, Singapore and Baar.
Glencore Energy in London is part of Glencore group, one of the world’s largest supplier of commodities and raw materials with over 2000 employees in over 40 countries. The London team was looking for a solution to automate the centralization of key market data, create composite curves and then integrate those curves with their ETRM platforms. ZEMA was selected after Glencore evaluated several providers and determined that ZEMA was able to fulfill their extensive list of requirements.
Key benefits of the ZEMA implementation include:
- Direct data captured from their sources, including real time data
- Centralized data storage and extraction tools that support multiple global offices via web based interfaces
- Ability to create unlimited complex forward curves
- Simplified integration with existing internal systems, BI tools and ETRM platforms
ZEMA’s rich data management and analytics functionality empowers Glencore by providing a robust, flexible, and sophisticated environment to manage their data, analytical and end of day processes.
The Glencore Group of Companies (“Glencore”) is one of the world’s largest suppliers of commodities and raw materials to industrial consumers. Customers around the world, in industries such as automotive, power generation, steel production and food processing, rely upon Glencore’s established global network of operations as a source of Metals and Minerals, Crude Oil and Oil Products, Coal and Agricultural Products. These commodities originate either from Glencore’s owned production assets, are secured from third parties, or benefit from the refining, processing or marketing expertise of Glencore. The Group also provides financing, logistics and other supply chain services to producers and consumers of commodities.
Glencore, founded in 1974, is a privately held Group owned by its management and employees. Headquartered in Baar, Switzerland, Glencore employs over 2,000 people in its global marketing operations in some 50 offices in over 40 countries. In its industrial operations, Glencore employs over 50,000 people at 15 plants in 13 countries. Additionally, Glencore has interests in various publicly listed companies including 34.4% in Xstrata, 44% economic (39% voting) in Century Aluminum, 70.6% in Minara Resources, 74.4% in Katanga Mining, 8.7% in UCR, 51.5% in Chemoil Energy and 32.2% in Recylex.