BroadPeak Case Study:

Top 5 Energy Merchant Utilizes BroadPeak’s K3 Platform for Optimal Compliance Management

Snapshot

A top 5 independent energy and commodity trading firm sought to enhance its compliance capabilities due to significant business expansion. Previous systems became inadequate as the company scaled up, requiring regular manual intervention and lacking capabilities to support future strategies.
BroadPeak’s K3 Data Integration platform was chosen by the firm for its ability to tackle this significant project, empower internal control, and provide scalability for future needs at a competitive price point.
Requiring only minimal support from BroadPeak’s delivery teams, the internal team efficiently implemented BroadPeak’s solution, achieving compliance with various regulatory requirements such as exchange and MiFID II position limits monitoring, trade surveillance, REMIT trade reporting, and MiFID II position reporting.

K3’s flexibility to easily integrate with our existing technology stack and global coverage made it an easy choice for our needs."

- CTO

Background

One of the world’s top 5 independent energy and commodity trading companies was experiencing great growth in its business and was seeking to improve its compliance capabilities. Although the company had invested in tools when the business was smaller, the firm outgrew them as it continued to scale up in an increasingly complex regulatory environment.

Some of the systems in place were no longer suitable, some components needed regular manual checks, rendering them unreliable, and some were not aligning with their strategy and future direction.

The Challenge

The firm’s technology team was highly capable and experienced, however, the scope of solutions that needed to be replaced would have been a significant burden to both build and maintain.
Looming end-of-year regulatory deadlines created an urgency to deliver a complete compliance suite in a limited amount of time.
The highly regulated entity within the firm’s global group generated further imperative for a comprehensive solution.

The Solution

The firm looked to the marketplace for a reliable vendor offering and chose BroadPeak’s K3 Data Integration platform, as it was able to handle all of the presented challenges. The team quickly had full oversight and control without having to rely on the vendor and also scaled the platform for future needs.

BroadPeak’s solution successfully delivered:

Exchange and MiFID II Position Limits monitoring
Trade Surveillance to comply with European Market Abuse Regulations (MAR)
REMIT Trade Reporting for wholesale energy products
MiFID II Position Reporting.

The Result

The firm effectively leveraged its investment in a regulatory project to create something meaningful to reach its business objectives.

With BroadPeak’s help, the firm was able to:

Complete the project, meeting all set deadlines
Fulfill regulatory obligations
Create a reliable foundation that provides the ability to scale its business with confidence.

By using BroadPeak’s K3 to organize and manage all its data, the client now has a foundation upon which it is able to drive better insights and its business analysis teams have the flexibility and control to adapt to new products, processes, and regulatory requirements.