The CTRM Blog

This morning I spoke with Shobhit Mathur, VP Product Management & Pre-Sales, for EKA to get a catchup on their activities. EKA continue to grow and now have more than 220 staff and have recently opened a new office in Adelaide, Australia where they have had some good success recently. EKA has signed a number of new deals in the Ags and Metals side – mostly unannounced – including Boliden who selected Eka.Metals for commercial activities within its two main Business Areas: Mines and Smelters and the Gavilon Group, LLC, a global commodity management company, who selected Eka.Agriculture to support its trading and risk management operations.

Superior Essex (a major manufacturer of cable and wire) has gone live with Eka software in five locations in US and Europe according to Eka’s latest press announcement which can be found on the CTRM Vendor news portion of this site.

The Eka solution has replaced several spreadsheet-based processes used by its traders and risk managers in US, Germany, Italy and France and they are now in a better position, from a sales standpoint, to quote a firm price to a customer for future delivery, and immediately hedge that copper or aluminum commodity to avoid/contain commodity price risk in the price of its cable.  Management has  a consolidated corporate view of its physical and financial commodity position in real-time for the first time as opposed to monthly according to Eka.

I recently had the pleasure to write a white paper with eka titled “In Search of Total Risk Management:The Physical Factor and Operational Risk Management”. Eka are a CTRM vendor based in India that have historically been focused on Ags and Metals and are constatntly broadening their platform. Recently, they have made several key hires to supplement their team and expand their geographic coverage into Europe and North America.

The white paper can be downloaded from this blog;

Last week, I had an opportunity to talk to Mr. Manav Garg, the CEO and Founder of Eka Software Solutions, about his company’s background, aims and objectives. Eka first appeared on CommodityPoint’s radar screen around a year ago as a vendor of non-energy Commodity Trading and Risk Management software highly ranked for its coverage of agricultural commodities. But Eka has made rapid progress and it has already established a presence in the metals space and now has a foothold in certain energy commodities too.

EKA have announced a new licensing deal with Traxys for its global trading and risk management software solution across base metals, concentrates, minor metals, ferro-alloys, industrial chemicals, rare earths and energy products. Its that last commodity group that is important here – energy products. EKA appears to be moving full tilt into more or less complete commodity coverage.