Configuring Your Trading

System Administration

Typically there are 1 or 2 system administrators of the Energy Trading system. The system administrator’s role is to manage the system and how it is used by the users. There are 3 primary functions, these can all be customised and configured through the User Management menu within settings.

  1. User Administration – Managing users and tracking how they use the system
  2. Manging standing data – Standing data should be locked down and only the system administrator can change this data
  3. User Log-in- Users log in is based on role-based security access with the option to apply 2 factor authentication

Utilidex passes all system administration rights to the customer and it is up to them how they wish to administer the system.

User Administration

User Administration is configured by the users assigned to an administrator role. Only they can manage this screen and it is not visible to role-based users.

Role based access to the system is configured by the user administrator too. Here the Administrator can grant access to the system based on menu item which they wish the end user to access.

There are just under 100 potential screens which an end user can access and approximately 50 of these are either trade related or risk related access in association with energy procurement.

Many smaller organisations run purely a front office, where the trader or procurer is responsible for the whole of the straight through process from trade entry to trade confirmation, then from trade confirmation to trade settlement.

In some cases, they are also responsible for the managing risk and reporting upwards to the CFO on a regular basis some information on the general risk exposure and energy budgets. In such cases the whole of the trade and risk menu items are likely to be used by a single user.

With more sophisticated purchasing entities trade and risk management are separated by role. In such cases it is likely that trade entry and position management versus either the demand forecast is managed by the trader/front office, and risk management inputs such as the management of the forward curve and demand forecasts and managed by members of the risk team/ mid office.

The separation of duties and responsibilities is customisable by the system administrator.


Full details of how to configure different users and their roles can be found in the support article Manage Who Accesses Your Hub.

Standing Data Administration

Standing data needs close administration to ensure it remains current. The key elements which are configurable and set up in the current system are:-

  • House:- the overall entity which the trade party is purchasing on behalf of
  • New products:- A product is a specific strategy which has its own annual hedge requirement potentially over a number of years for the duration of a contracted term.
  • New baskets:- A basket is an annual purchase requirement which has specific pre-determined risk profile which needs to be monitored and met
  • New counterparties gas and power set up:- From time to time new trade counterparties are likely to be set up as negotiations with potential suppliers focus on new innovative products

Adding A Counterparty

A new counterparty can be added by navigating from the Settings screen and adding a counterparty using the link in the top right-hand corner of the screen.

Once the new screen is available a counterparty can be added alongside which commodity, they provide the trade tenor (length of counterparty contract) and the expected daily volumes for that counterparty.

The final 2 elements help support risk control ensuring that counterparty exposure cannot be extended beyond the contract duration and the daily volume cannot exceed what is expected in the contract.

Adding a Counterparty
 

Configuring Baskets & Products

When adding a new basket there are 7 core pieces of data to configure. The framework is the top-level hierarchy within the basket configuration, this can be selected in the drop down or customised by selecting the 3 dots to the right of the drop-down, after typing the new framework, a user must select the check mark.

  • The functionality for House mirrors that of Framework.
  • Users must also select if the basket is for gas or power.
  • Next a user may configure a product to categorise baskets. Users must type a unique name for the baskets (unique within the commodity).
  • To configure multiple baskets for a single product, start and end dates of the delivery window must be applied. The system will not allow 2 baskets to have an overlap in days within a single product.