Norlys Energy Trading Goes Live on First Release of Core ETRM Platform
Zug, 12. May 2021: Previse Systems announced today that Norlys Energy Trading has successfully taken the first release of it new Core ETRM platform – based on ChorusLink, Previse Coral and the Coral Ecosystem – into production.
The primary goal of Release 1 is to support the trading of power and natural gas on EEX as well as Nasdaq OMX, with master data provided by ChorusLink and valuations run in Previse Coral. Release 2 will expand coverage to further instruments across additional European markets for gas and power.
Release 1 was delivered entirely remotely. A strong team spirit with a shared focus on the common goal ensured a smooth and timely completion.
About Norlys Energy Trading
Norlys Energy Trading A/S was founded in May 2020 and owned by Norlys Holding A/S and Eurowind Energy A/S The company is based in the Northern part of Denmark in the city of Aalborg.
We are in the process of building a solid and automatized organisation with an efficient platform for energy trading and aim to streamline the handling of renewable energy in both Denmark and the rest of Europe.
We strive to become one of the top European players in electricity and gas trading and to be one of the frontrunners of the green energy transition.
As the energy sector is getting “greener”, more complex than ever, and new solutions emerge everywhere, we have chosen to be an active part of and significant contributor to a sustainable future.
Allan Kaufmann, Head of IT Development at Norlys Energy Trading, said:
“We welcome the first deployment of our entire platform into production and can officially state that Norlys Energy Trading is now an operating trading company. This first go-live will probably be the largest and most important deployment we ever face since all our different systems and components (that together represent our world class trading platform) now are combined and running.
It´s quite amazing to see how much we have achieved working from home! We have established very close collaboration with our various counterparts and especially with Previse Systems, who have proven to be a very flexible and high performing partner.
Asbjørn Hansen, Managing Director at Previse Systems, said:
“At Previse Systems, we are very proud of this first result of our partnership with Norlys Energy Trading. Thanks to an efficient and close collaboration of the project teams – of course entirely remotely as mandated by the circumstances – we were able to not only fulfil a very demanding project schedule, but even to increase the project scope and deliver more functionality than originally planned.
We were able to demonstrate the strength of our concepts for example in the core success criteria of time to market and performance – the combination of our innovative data management approach with the utilisation of advanced Azure cloud services and the serverless technology provided by Microsoft allows new markets to be onboarded quickly and valuation runtime to be all but independent of the number of trades to be valued.
We are excited to support Norlys Energy Trading on their journey and look forward to a continuous stream of further successful releases over the coming months.”
About Previse Systems
At Previse Systems, we fundamentally reshape the way Energy Trading and Risk Management (ETRM) software is designed, implemented and operated. We offer a highly performant SaaS solution for European electricity, natural gas and certificates trading – combining modern software architecture with the latest available tools and technology.
As a conceptual innovation, we build on the notion of “community”, with an infrastructure for energy companies to leverage synergies through collaboration in the IT domain. The goal of this is simple: better software, faster and at lower cost. We create software without any legacy burden. Our data structure follows accepted market standards, which drives easy and fast data migrations, and is also a core factor of strong system performance.
With Previse Systems, energy companies are well equipped to master the challenges of a fast-evolving environment.
About ChorusLink
ChorusLink AG is a Swiss software company introducing a new paradigm for trade data storage and management in European energy markets.
ChorusLink sees its purpose in spearheading a change of paradigm for energy trading software. Thinking ongoing trends in energy markets and technology platforms one step further ChorusLink follows the vision of a common platform for energy trading data. This conceptual quantum leap facilitates process efficiencies, optimises investment returns on IT spending and fosters future infrastructure adaptability on an unprecedented level.