Fujitsu Singapore Implements ETRM in Record Time for JX Nippon’s Singapore Petroleum Trading Venture

Fujitsu Singapore Implements ETRM in Record Time
for JX Nippon’s Singapore Petroleum Trading Venture

Singapore,
December 13, 2016 –
Fujitsu Singapore today announced the implementation of an Energy Trading Risk
Management (ETRM) system for JX Nippon Oil & Energy Asia, the
Singapore-based petroleum trading venture from JX Nippon Oil & Energy. JX
Nippon Oil & Energy Asia selected OpenLink through a tender process
supported by Fujitsu Singapore. The implementation involved the deployment of a
full front, middle and back office ETRM solution.

As the
trading arm of the largest oil company in Japan, JX Nippon Oil & Energy Asia sought a proven ETRM system that would scale up
to the demands of their expanding energy trading business. After much
consideration on the right implementation approach, the company decided to
engage Fujitsu Singapore for an end-to-end project management from the solution
selection process to implementation and maintenance.

The
fast-paced nature of the energy trading sector also meant that Fujitsu was
tasked with setting up the ETRM system within a tight deadline. This
requirement was met through a rapid implementation of the packaged solution,
enabling the trading venture to be operational within a short period of time. A
leading ETRM solution backed by robust infrastructure was critical in order to
support, manage and monitor the risks and operations in the business.

In
addition to project management, Fujitsu will also manage the IT infrastructure
for the ETRM system, which is hosted on FUJITSU Cloud IaaS Trusted Public S5, a
public cloud service that brings enterprise grade levels of security with
ISO27001 certification. This service will allow the customer to free up IT
resources, reduce capital expenditure and focus its attention on managing the
organization’s IT infrastructure instead.

“Fujitsu
has a proven track record of working with partners to deliver exceptional
business outcomes for customers in a short period of time, and this project was
no exception. Because of this, Fujitsu was well-positioned to set up an ETRM
system on time and within budget, as per the requirements of JX Nippon,” said
Wong Heng Chew, Country President, Fujitsu Singapore. “With the successful
implementation of this project, Fujitsu has once again demonstrated its
strength in project management capabilities.”

“A
flatter, less volatile market lends itself to long-term contracts and less
risk,” said Greg Moyle, Head of Sales for APAC, OpenLink. “It’s easier to
manage that risk in-house. However, when volatility picks up, the pattern shifts
to a higher number of short-term trades, which makes risk management much more
complicated. It’s possible for traders to spend hours each day manually
reconciling trades – precious time spent away from the desk. As growth
accelerates in the region’s energy markets, traders need a risk management
system that allows them to take every opportunity the market creates.”