POSTED BY Tanu Agarwal | POSTED IN Blog, CTRM

New from capSpire: Scalable ERCOT Trade Importer

CTRM Analytics Answer: Part 3

If you have to enter trades manually into Allegro to replicate your trading activity on the Electric Reliability Council of Texas (ERCOT) trading platform, then you know what a time-consuming process this can be—especially as trades increase in complexity or volume. A complex trade with multiple details could take as long as a half hour to enter into Allegro. Multiply that by about 20 to 30 trades per day and it becomes apparent how resources and time could be better spent on other, more profitable activities.

This is why capSpire created an importer that does the tedious work for your traders and completely eliminates the need for manual trade entry. It’s an extremely simple process:

  • Traders get a download notice from the ERCOT website.
  • A trader initiates the import process. (Note: This process only requires the involvement of a single trader for the entire trading floor.)
  • Trade information is transferred into your Allegro system.

This process could happen once per day at the end of each day, or it could happen automatically as trades happen. It’s up to individual client preference.

Most importantly, capSpire’s trade importer significantly reduces the amount of time saved for traders all the way through back-office users. The import process takes only about 10 to 20 minutes total, as opposed to 10 to 20 minutes—or more—to manually enter a single trade. Furthermore, the trade importer avoids the potential for user errors associated with manual data entry. These errors may not be caught until the invoicing phase, and resolving these issues can consume even more time.

Of course, the idea of an ERCOT trade importer is nothing new. ERCOT provides application programming interfaces (APIs) for such extensions, and many other consultancies offer these solutions. What differentiates capSpire’s trade importer is its scalability. Rather than offering a solution with lots of bells and whistles, our trade importer is tailored precisely to client needs. This means that you get exactly what you need— with no extra features you won’t use—for a fraction of the cost and in much less time.

Are you interested in implementing the ERCOT trade importer and making your traders’ jobs much easier? To get started, contact us at info@capspire.com.


                          



About capSpire

capSpire provides the unique combination of industry knowledge and business expertise required to deliver impactful business solutions. Trusted by some of the world’s leading companies, capSpire’s team of industry experts and senior advisors empowers its clients with the business strategies and solutions required to effectively streamline business processes and attain maximum value from their supporting IT infrastructure. For more information, please visit www.capspire.com.