Greenwich, CT Ð In the burgeoning commodities-trading market, a ground-breaking custom app developed by Phibro Energy is fueling intense interest in NEXTSTEP.
A full front-office to back-office transaction system, the Phibro Trading System revolutionizes the trading process by providing one tool for everything from trading, analysis, and risk management to scheduling and tracking the movement of oil tankers. The app is owned by Phibro but marketed and resold by Systemhouse.
"Phibro has created a lot of interest in NEXTSTEP because of the excitement over this software," said Jeff Kvam, vice-president of capital markets and trading at Systemhouse, where he oversees sales and marketing of the trading system. "These new customers would never consider NEXTSTEP on its own, but they're interested in this turnkey system."
The software helped cement deals at EOTT Energy Corporation in Houston; PEMEX, the national oil and gas company, in Mexico City; and Lagoben in Caracas, Venezuela. Deployment is underway at all three locations.
Kvam reported that sales to three to four more commodities-trading firms are in the works and appear promising.
Systemhouse expects to gross $20 million this year from selling and supporting the package to commodities-trading firms across North America, according to Kvam.
"That could grow to $30 million a year every year in the future," Kvam added. "I'm confident that [the software] can become a dominant force in the market as a competitive advantage to solving business problems in the financial-services industry."