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.”

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