Neste selects the Allegro 8 platform for crude and refined products trading and risk management

London, June 1, 2015 – Allegro Development Corporation has announced today that Neste – the world’s leading supplier of renewable diesel — has chosen the Allegro 8 platform to support its crude oil, refined products trading and risk management desks in Geneva, Switzerland. Neste will use Allegro’s enterprise class software to manage its crude oil and refined products positions, the impending regulatory changes and the volatility of the energy trading market. The company needed to replace its legacy risk management system which had been developed in-house and was no longer able to respond to all current and foreseeable business needs. “We selected Allegro 8 as our new corporate CTRM platform to address the complexities of our refining business,” said Risto Espo, Chief Risk Officer. “After an initial implementation in Geneva and at headquarters in Espoo, our plan is to eventually roll out Allegro 8 to Neste’s commercial operations in Singapore, Houston and Toronto,” he continued. “Following a thorough evaluation and testing of Allegro 8, overseen by our Geneva Risk Management team and our local advising partner Mostel Solutions, we are convinced that Allegro is a robust and flexible tool that will provide us with a fast-track, first-class, “fit for purpose” … continue reading

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Source: CTRM Center

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