SOURCE: Triple Point Technology

Triple Point Technology

January 05, 2010 10:00 ET

Triple Point to Provide Suncor Energy With Enterprise Solution Suite

A Solution With Functional Breadth to Manage Unique Challenges of Crude and Gas Operations

WESTPORT, CT and CALGARY, AB--(Marketwire - January 5, 2010) - Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that Suncor Energy has licensed Triple Point's enterprise solution suite to support strategic growth in oil and gas production and marketing activities.

The enterprise solution suite includes Commodity XL™ for Oil, Gas, Credit Scoring, Credit Analytics, and Xchange. Additionally, Suncor has licensed PhysOps 'Visual Cockpit'™ and Gas Scheduling 'Visual Cockpit'™.

Commodity XL provides a next-generation, extensible platform that tightly integrates front-office trading activities with physical movements of oil and gas. This enables a real-time view of inventory positions, purchase and sale contracts, and in-transit goods for improved hedging strategy. Commodity XL is designed to manage a number of requirements including -- physical and financial trading, real-time connectivity to NYMEX and ICE exchanges, management of market and counterparty credit risk, and scheduling and logistics -- all on a common platform.

"Triple Point offers an integrated solution, front-to-back, that can handle the entire lifecycle of a crude or gas contract," said Michael Schwartz, chief marketing officer, Triple Point. "We look forward to partnering with Suncor for years to come, and we're proud to add a customer of Suncor's caliber to our established clients in Canada, including recent additions Bruce Power and Scotiabank."

About Triple Point Technology

Triple Point Technology® is the leading global provider of multi-market commodity and enterprise risk management software solutions. Triple Point's Commodity XL profitably integrates physical and financial markets on a real-time, service-oriented architecture (SOA) platform for commodities including power, oil, gas, coal, emissions, base and precious metals, agricultural products, biofuels and freight. In addition to Triple Point's award-winning commodity and energy trading software being used by more than 25 percent of both Global 500 commodity trading and Global 500 energy companies, other organizations with large raw material and energy exposure, including consumer products (CP), discrete manufacturers and big box retailers, are quickly adopting the Triple Point solution. Named to the Deloitte Technology Fast 50 for ten straight years, Triple Point added to its record-breaking organic growth in 2008 with the acquisitions of INSSINC, the leading provider of hedge accounting and fair value level software and ROME Corporation, the industry leader in credit risk software solutions. Triple Point, headquartered in Westport, Connecticut, USA, was founded in 1993 and serves clients from nine development and support centers located around the globe. More information is available at www.tpt.com.

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