One consolidated view
Across commodities, desks, books and legal entities, rather than a different risk process per asset class.
Enterprise Software · Risk platform
One risk platform for the entire commodity trading business
Connect your existing C/ETRM and get governed positions, P&L, sensitivities, basis risk, VaR, stress, limits, liquidity and enterprise risk reporting across physical and financial commodities — without replacing the system that already captures your trades.
- Crude
- Gas
- LNG
- Power
- PPAs
- Carbon
- Freight
- Agriculture
- Metals
- Precious metals
Connect your C/ETRM → see your risk differently
In six points
Enterprise risk for multi-commodity trading
01
02
The full measure set
Intraday positions, MTM, P&L, sensitivities, basis risk, VaR and shocked-revaluation stress.
03
Physical and financial
Cargoes, nominations, schedules, inventory and settlement quantities in the same model as derivatives — not derivatives risk alone.
04
Metadata-driven
Risk factors, quantity roles, curves, buckets, limits and scenarios are configuration, not code.
05
Connects, does not replace
Sits above your existing trade capture rather than forcing a C/ETRM migration.
06
Role and mandate aware
Views for traders, desk risk, enterprise risk, middle office, treasury and the CRO, bounded by mandate.
The problem
Your ETRM knows the trade. CommodityRisk360 knows the risk.
Most C/ETRM platforms are built primarily around trade capture, lifecycle processing, scheduling, settlement and accounting. Risk tends to fragment around them.
Typically
Risk assembled downstream
- C/ETRM
- ↓
- Position extract
- ↓
- Spreadsheet / data mart
- ↓
- Commodity-specific risk engine
- ↓
- Another VaR process
Every hop is a place where numbers diverge, and every commodity tends to grow its own chain.
With CommodityRisk360
One governed calculation layer
- C/ETRM · market data · scheduling · credit
- ↓
- CommodityRisk360
- ↓
- Positions · valuation · risk · limits
- ↓
- Trader → desk risk → CRO
The C/ETRM remains the system of record for the trade. CommodityRisk360 becomes the governed system of calculation and visibility for enterprise commodity risk.
Positions→Valuation→P&L→
Sensitivities→Basis→VaR→
Stress→Limits→Liquidity→
Credit→Reporting
Architecture
One risk architecture. Different commodity economics.
There is no separate gas-risk, power-risk, metals-risk and agri-risk architecture inside the platform. There is one risk model, and commodity behaviour is configured through metadata.
Position+Quantity measure+
Risk factor+Curve+
Location+Tenor+
Scenario+Sensitivity+
Reporting currency+Metadata version
Not a gas product extended with more tabs. Commodity, market, location, curve, quantity role, risk factor and time bucket are metadata.
Coverage
The same platform, configured per commodity
Each commodity brings its own economics — different quantity measures, basis structures, granularity and settlement behaviour. The architecture does not change; the metadata does.
Crude oil
Cargo lifecycle, dated benchmark pricing windows that re-anchor on bill of lading, grade differentials, freight and quality adjustment.
Natural gas
Hub and location basis, balancing regimes, storage and swing, daily and within-day granularity.
CommodityRisk360 for European Gas →LNG
Dual-unit cargo quantities, boil-off, heel and outturn, diversion economics and JKM-TTF spread exposure.
Power
Hourly and sub-hourly granularity, nodal and zonal basis, shape and profile risk, ancillary products.
PPAs & renewables
Generation profile, volume and shape risk, capture price, and long-dated basis against benchmark.
Carbon
Compliance and voluntary instruments, vintages, scheme-specific surrender obligations and price exposure.
Freight
Route-keyed exposure, physical and paper freight, and its interaction with the underlying cargo economics.
Coffee & agriculture
Bags, tonnes and pounds, differentials against exchange benchmarks, quality and crop-year structure.
Copper & base metals
Wet and dry metric tonnes, payable metal, treatment and refining charges, and warehouse exposure.
Gold & precious metals
Ounce-denominated exposure, lease and forward structures, and currency interaction.
The platform
Nine pillars
Pillar 1
Connect your C/ETRM and market data
Ingest what already exists across the trading estate and normalise it into a canonical commodity-risk model, without requiring upstream systems to adopt a new trade schema.
- Near-real-time trade and position ingestion
- Physical and financial instrument support
- Multiple C/ETRMs in one enterprise risk layer
- Curve, fixing, volatility and FX ingestion
- Reference and master-data normalisation
- Trade and market-data reconciliation
- Data-quality controls and exceptions
- Versioned market-data snapshots
Pillar 2
Canonical positions and exposure
Commodity risk starts with knowing which quantity actually matters. A single physical trade may carry contracted, forecast, nominated, scheduled, loaded, measured, allocated, delivered and settlement quantities at once. These are preserved as separate measures rather than collapsed into one number.
- Quantity roles as first-class data
- Unit of measure with conversion provenance
- Physical, financial and residual position
- Book, desk, entity and portfolio aggregation
Pillar 3
Valuation, MTM and P&L
A common valuation layer across commodities, with P&L explained by cause rather than delivered as a single movement.
- Intraday and end-of-day MTM
- NPV
- Realised and unrealised P&L
- Carry and accrual
- New-trade and amendment P&L
- Market movement
- Basis movement
- Volume movement
- FX movement
- Model change
Pillar 4
Market risk
A common market-risk framework across physical and financial commodities.
- Gross, net, physical, financial, fixed, floating and residual position
- Delta by commodity, risk factor, curve and tenor
- Location, hub, node, grade, quality, benchmark and exchange basis
- Curve risk from year down to hour and sub-hour where applicable
- Currency exposure and translated risk
- Option sensitivities where instruments require them
Pillar 5
Stress and scenario analytics
Stress is not position multiplied by an arbitrary percentage. The portfolio is revalued through the pricing engine under a shocked market state — Brent +20%, TTF +40%, European power +€100/MWh, JKM-TTF spread +$4/MMBtu, node-hub basis −€25/MWh, copper −15%, EUA +30%, USD +8%.
Pillar 6
Hedge and residual risk
A benchmark hedge does not necessarily eliminate commodity risk. Gross physical exposure, financial hedge and what remains are separated: residual outright, basis, volume, FX and optionality.
Pillar 7
Limits, liquidity and controls
Risk becomes useful when somebody can act on it.
- Position, delta and basis limits
- VaR and stress-loss limits
- Stop-loss and concentration limits
- Tenor limits
- Illiquid exposure
- Modelled-horizon exposure
- Pre-trade what-if checks
- Utilisation and breach workflow
Pillar 8
Credit, collateral and liquidity visibility
Market risk does not exist in isolation. Current exposure, positive MTM, replacement cost, potential future exposure, collateral, margin, liquidity requirements, cleared versus OTC exposure and counterparty concentration sit alongside it. Where a dedicated credit or collateral platform already exists, CommodityRisk360 consumes it rather than forcing its replacement.
Pillar 9
Risk lineage and governance
Every material number should be explainable. Any figure can be traced back to the run, book, risk factor, quantity role, curve version, model and metadata version that produced it.
| Risk run | MR-20260825-1800 |
|---|---|
| Book | GAS-EU-01 |
| Risk factor | TTF-NOV27 |
| Risk type | OUTRIGHT_PRICE |
| Quantity | 100,000 MWh |
| Quantity role | SCHEDULED |
| Curve | TTF-EOD-20260825 |
| Curve version | 17 |
| Risk mapping | GAS-RSK-004 |
| Model | PRICER-29 |
| Metadata version | 81 |
On VaR
No fake cross-commodity arithmetic
CommodityRisk360 does not produce a portfolio number by adding barrels to megawatt-hours to tonnes to ounces. Each exposure stays in its native physical unit and is converted into a monetary sensitivity to its underlying market factor.
The aggregation domain is currency
A Brent exposure becomes a USD sensitivity to Brent. A TTF exposure becomes a USD sensitivity to TTF. Power, copper and the rest follow the same path. Cross-commodity portfolio VaR then applies the governed risk-factor covariance model to those monetary sensitivities — not to physical units.
And where covariance is not configured
The platform reports valid per-commodity VaR rather than inventing diversification benefit. A number that cannot be defended is worse than a number that is honestly scoped, particularly when a regulator or an auditor asks how it was derived.
Deployment
Connect, don't replace
Keep the C/ETRM that already works. CommodityRisk360 connects through APIs, events, files and standard enterprise integration patterns to leading C/ETRM platforms, custom trading systems, trading data warehouses — or several of them at once — and normalises risk across them.
Your C/ETRM remains the system of record for the trade. CommodityRisk360 becomes the governed system of calculation and visibility for enterprise commodity risk.
Intraday
Event-driven and configurable recalculation rather than waiting for tomorrow's batch.
Explainable
Drill from enterprise risk down to desk, book, trade, quantity, curve and risk factor.
Governed
Versioned metadata, market data, models and risk runs, so a number can be reproduced.
Fail-safe
A missing price does not silently become zero. Unsupported risk does not become zero. Ambiguous mappings are surfaced rather than absorbed.
Physical and financial
Built for cargoes, nominations, schedules, inventory, production, quality and settlement quantities as well as derivatives.
One view across the complex
Risk definitions are reused rather than recreated commodity by commodity.
Audience
One platform from trader to CRO
Traders
Current position, P&L, curve exposure, basis, hedge residuals and limits.
Desk risk
Sensitivities, VaR, stress, concentration and limit utilisation.
Middle office
Reconciliation, valuation exceptions, missing data and P&L control.
Credit & treasury
Counterparty, collateral, margin and liquidity alongside market risk.
Enterprise risk / CRO
Cross-desk exposure, concentrations, stress, limits and governed risk packs.
Technology
One risk layer connected to the existing estate rather than another trade-capture replacement.
Connect your C/ETRM. See your risk differently.
Tell us which systems you run and which commodities you trade, and we will walk through what the risk layer would look like across them.