Eka Releases Integrated Product for Base Metals, Metal Concentrates & Ferro Alloys
Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, announces the release of its product for managing metal concentrates and ferro alloys. Highly flexible in its design and functionality, the solution greatly helps towards better administration of concentrate and ferro alloy contracts, from trade capture, pricing, shipment, inventory, assaying and umpiring, valuations, price risk and position management through to settlements and invoicing. The new functionality is aimed to provide various metal industry participants, including mines, smelters, marketers, traders and processors, with a complete, modern and end-to-end solution for their business including handling of raw material. The fully integrated solution includes Eka’s core functionality for physical trading, derivatives, risk, position, P&L, logistics, inventory, tolling, finance, reporting and business intelligence.
According to Manav Garg, Eka’s CEO & Founder, “We saw a huge gap in the market. Existing solutions come nowhere close to the real need of clients – a high degree of solution flexibility, modern scalable technologies, and complete integration with core risk management, logistics and trading operations. Our offering addresses all these needs and more. The solution is based on indepth research and involved active participation from actual users. The LME week is the perfect opportunity for us to make such a major announcement, and we look forward to showcasing the product to our customers in the months to come.”
Key features of the solution include:
- Contract management: Capture of important terms including counterparty details, product composition, pricing rules, penalties & payables, TC/RC, splitting limits, umpire rules, payment and delivery conditions, etc.
- Assaying: Recording multiple assays (default, shipment, buyer, seller, umpire, etc), application of splitting limits and umpire rulesSettlements: Automatic calculations incorporating contract rules and assay results, provisional and final invoicing, partial and pre-payments, etc.
- Position management: Comprehensive views including open positions per element, inventory, price risk, hedges, etc.
- Mark to market valuations: Highly accurate M2M calculations capturing all payables, penalties, deductions, LME,location and quality differentials, costs and accruals, etc.
Eka’s metal trading and risk management solution is today widely acknowledged as the system of choice for the metals industry.The solution provides a single platform for managing operations across base metals, concentrates, ferro-alloys, steel, scrap and has been designed to meet the needs of different participants of the metals supply chain, including mines, producers, fabricators, trading houses, distributors, as well as recyclers. It covers the entire lifecycle of both physical and financial contracts, combining front, middle and back office functionality into a powerful, feature-rich system.
About Eka Software Solutions
Eka is the global leader in providing Smart Commodity Management software solutions. Eka’s analytics-driven, end-to-end Commodity Management platform enables companies to efficiently and profitably meet the challenges of complex and volatile markets.
The company’s best-of-breed solutions manage commodity trading, enterprise risk, compliance, procurement, supply chain, operations, logistics, bulk handling, processing, and decision support. Eka partners with customers to accelerate growth, increase profitability, improve operational control, and manage risks and exposures.
Eka is a team of 315 staff with offices in the Americas, Asia, Australia, and EMEA, serving a rapidly growing global client base across multiple commodity segments.