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Aspect Outperforms The Competition To Clinch Middle East Deal With Trading Firm Ferrocadia
 
International multi-commodity trading firm Ferrocadia has become the latest Middle East customer to choose the AspectCTRM cloud-based trade and risk management solution. In a deal announced today, signed within weeks of first enquiry, Ferrocadia will use Aspect’s platform to manage trade and risk in its mainstream oil and iron ore business.
 
Ferrocadia chose Aspect’s solution based on the previous experience of its founders, two of whom had used and got to know the solution at previous employer Trafigura. Also critical was Aspect’s powerful ability to support Ferrocadia’s extensive derivatives activities, along with the solution’s strengths in managing physical supply chains across all of the company’s traded product lines.
 
During a testing and exacting selection process that looked at many different products, Ferrocadia felt the Aspect solution outshone and outperformed those of the other vendors. The company particularly liked Aspect’s complete front to back management of accounts and trades. This ensured rigorous compliance with regulatory requirements and further, enabled that compliance to be fully auditable and transparent to Ferrocadia’s own customers.
 
Underscoring this point Ferrocadia’s COO and Director Abdul Khalis Ramzam, said: “Above all we were looking for something that was capable of effectively managing and documenting the entire trading process from front to back. We felt AspectCTRM was particularly effective in that area. That coupled to the solution’s flexibility and ease of use made it a natural choice for us.”
 
Fieras Freijeh, Aspect’s managing director Middle East and Africa, welcomed the company’s newest client: "Aspect's functional expertise, its accelerated delivery model and its proven track record in scalability is a perfect fit with Ferrocadia’s business plan and growth ambitions. Ferrocadia’s people have long experience in commodities and allied businesses and were quick to appreciate what AspectCTRM could do for them.”
 
Ideally situated between the London market and Singapore market time zones, Dubai is fast emerging as a key trading hub in the Middle East. Aspect is witnessing significant growth in its business in the city, also recently signing deals with MENA Energy and other major trading organisations.