Braskem, one of the world’s largest petrochemical companies, has deployed AspectCTRM trade and risk management at its Netherlands-based naphtha trading operation. The rollout follows a competitive tender process in which positive references for Aspect from existing users played a key role.
At Braskem’s Rotterdam trading site, Aspect’s cloud-delivered, software-as-a-service (SaaS) solution supports core line of business processes including trade capture, position keeping, exposure tracking, transfer cost capture, contract generation and document management.
According to feedstock trader Antonio Tettamanzy, “Aspect was chosen because their team was very thorough in demonstrating how the finished system would fit together and work, and the feedback we got from existing users was very encouraging. We’ve been especially impressed by how quickly the initial deployment went and how soon it began generating meaningful reports.” He adds: “We intend to expand significantly our use of AspectCTRM across our entire front, middle and back office environments.”
Headquartered in Brazil, Braskem operates seven petrochemical crackers in Latin America and it is one of the biggest consumers of naphtha in the world. The trading operation was established in Europe three years ago to be closer to Braskem’s key European feedstock suppliers.
Aspect’s VP of EMEA sales, Yags Savania, said the Braskem win marked a significant milestone for the company in the petrochemicals sector. “We’re proud to be working with a company of Braskem’s standing and reputation. It is especially gratifying to be chosen after a searching evaluation of the industry’s key players and it demonstrates the true value of our solutions and shows confidence in our technology roadmap.”
