SINGAPORE--(BUSINESS WIRE)--Allegro Development Corporation, a leading provider of commodity risk management software, announced today a strategic partnership with DHC Software Co., Ltd., one of the leading software solutions providers and the No.1 listed IT company in China.
DHC provides software development, computer information system integration and internet security products to the Chinese market. Their technology is recognized as one of the top 10 self-developed software products in China. With rapid growth over the past 13 years, DHC has more than 30 branches and 6,500 employees in China. DHC has served customers in various industries, including telecom, utilities, government, transportation, defense, pharmaceutical, finance, scientific research, coal, petrochemical, petroleum, insurance and manufacturing.
Allegro and DHC have partnered to collaborate and provide superior commodity trading solutions and consultancy services to the Chinese market to support energy companies to better manage their trading exposure. Xue Xiangdong, the President of DHC quoted ‘Be creative to achieve a win-win situation and profit together’.
According to Bloomberg’s report in May 2014, commodities derivatives trading jumped 23 percent last year, led by the U.S. and China. Commodities derivatives trading rose to 4 billion contracts in 2013, from 3.24 billion a year earlier, as volumes were boosted by transfers of cleared over-the-counter energy swaps to futures by the InterContinental Exchange and the “continuing sharp increase” in volume at exchanges in mainland China. The U.S. and mainland China accounted for 79 percent of global commodity derivatives volumes.
”Allegro and DHC will provide solutions supporting customers’ trading, risk management and logistics optimisation initiatives allowing them to keep pace with the evolving energy and commodities markets and rising demand in China, whilst at the same time remaining competitive, profitable and maintaining high standards of governance,” said Mark Weaser, Allegro Managing Director for Asia Pacific.” Our joint offering brings a new dimension of capability to Chinese energy and commodity trading markets, and we’re excited about working together.”
Allegro is a leading provider of commodity risk management software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of deep industry expertise, Allegro provides real-time intelligence and decision-making capabilities, from the source of the commodity (ground), through transportation, to the commodity consumer. Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners.