PRESS RELEASE: "I am excited to officially announce Allegro's move into the metals market," said Frank Brienzi, CEO of Allegro Development. "In my conversations with metals industry participants, I have noticed two common themes: one, their current CTRM solutions are not meeting their needs in today's market, and two, they are extremely enthusiastic about Allegro's recent acquisition of FEA, the world leader in quantitative analytic solutions. This is truly a perfect time for Allegro to enter the market with our proven, flexible, and analytics-driven CTRM software, Allegro Horizon, which will provide the industry with much needed tools for smarter trading, enhanced operational risk management, improved position visibility, and growth enablement."
Managing risk across metals operations and price exposure has become a challenge for industry participants due to a traditional lack of flexible and configurable commodity management solutions available to the market. Allegro claimed it has answered the need for an industry-accepted solution that offers both out-of-the-box functionality and configurable solutions tailored to business needs with a cloud-enabled, analytics-driven CTRM solution for the metals market.
"Considering today's digital landscape and market volatility, the metals market is in desperate need of flexible and forward-compatible commodity trading and risk management solutions from an established vendor," said Reda Bahri, managing director at Atum Consulting. "I believe this market is underserved and requires a cloud-enabled and analytics-driven solution that will provide metals companies with the tools necessary to enhance their portfolio management and capitalise on growth opportunities."
Allegro's metals and mining software is built on the company's core enterprise CTRM platform, which is a leading commodity management solution across multiple industries and is used by hundreds of international commodity management firms. Based on Allegro's initial metals and mining market assessment, about 70% of the company's core CTRM functionality is applicable to the industry; and Allegro has spent the past year building out the metals specific functionality to ensure product excellence in this sector.
"Allegro has hired some of the metals industry's top experts to drive our initiative," said Brian Collins, managing director, metals at Allegro Development. "Over the past year, our dedicated team of experts has been validating market requirements with companies across the industry, including the world's largest metals trading firms and a leading metals manufacturer. We have also gone the extra mile to create a flexible solution that translates across the entire metals value chain, which means Allegro will bring to the market a configurable and scalable CTRM software solution with the most advanced analytics available, providing the industry with keys to future success."