Chicago-based Aleri has teamed with OILspace of Houston to add Aleri’s complex event processing technology to its energy supply chain, risk, and trade management applications. OILspace’s flagship products are the OILwatch energy portal Aspect TradeFlo, an online trading solution. Complex event processing (CEP) involves real-time analysis and decision support leveraging real-time and historical data.
Aleri President and CEO Don DeLoach said, ‘Other trading markets use real-time analysis along with historical data. The deal with OILspace brings CEP to energy trading and will provide timely and accurate analysis and forecasting.’ CEP lets oil traders aggregate, analyze and correlate real-time and historical data from multiple sources. Traders can react quickly to market fluctuations, leveraging proprietary knowledge and processes for a competitive edge.
OILspace President and CEO Steve Hughes added, ‘We are constantly looking to improve clients’ trading, risk and financial operations. The combined solution will let our users analyze and respond instantly to high-volume, high-speed data while minimizing risk.’ OILspace customers include 9 of the world’s 10 largest oil companies.
Aspect TradeFlo is a simplified trade management solution for small trading and brokerage groups and individual traders. Aleri’s background is in CEP technology supply to banking and financial services. The Aleri Liquidity Management System is used by bank treasury departments.
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