Superior Essex selects EKA for its risk management operations in North America, Europe and Asia

Wednesday, Feb 03, 2010

Eka Software, the leading provider of commodity trading and risk management software, announced today that Superior Essex has selected Eka for its risk management activities for its operations across North America and Europe.

Superior Essex is a global leader in the design, manufacture and supply of wire and cable products. From their plants located globally, they produce and supply a broad portfolio of wire and cable products for the Communications, Energy, Automotive, Industrial, and Commercial & Residential end-markets. They are a leading manufacturer of magnet wire, fabricated insulation products, and copper and fiber optic communications wire and cable. They are also a leading distributor of magnet wire, insulation and related products.

In the face of its growing global presence and the sheer complexity of managing operations on such a large scale, Superior felt the compelling need for a robust risk management platform – functionally rich, technologically advanced yet intuitive and easy to use. After a very thorough evaluation process that demanded very high functional and technical standards, they selected Eka.

According to Scott Wilde, Vice President - Strategic Global Resources at Superior Essex, “We believe Eka has developed a product that combined with a cooperative working relationship between our two companies, reflects our operations needs and is the right product for our current business environment. . As a commodity buyer, we need a system that easily interfaces with our ERP, helps manage our price risk, hedging operations, and assures compliance with hedge accounting requirements. Eka meets these goals and combined with their flexibility, offers a platform that brings visibility over our global risk positions, streamlines risk management operations, provides reporting and analytical capabilities, and helps meet regulatory requirements. We are very pleased with Eka’s modern technology, their team’s capability and their knowledge of the commodity markets.”

In today’s highly complex and volatile commodity markets, commodity buyers are faced with the twin challenges of protecting their margins and ensuring compliance with regulatory requirements. It’s becoming increasingly crucial for metal processors to ensure that price risk is identified and hedged appropriately at the right time. Real time position management backed by efficient hedging operations, accurate risk and P&L reporting, are crucial factors for organizational success. Eka, which is designed specifically for buyers of metals and agricultural commodities, is increasingly the vendor of choice for organizations looking to deploy the most modern technology software designed for rapid deployment, fast user adoption and real time analysis of position, risk and P&L.

Mr. Manav Garg, CEO & Founder of Eka Solution replies, “We feel extremely privileged to partner with a market leader like Superior Essex. We look forward to working closely with their team to deliver a world class solution that would help achieve their business objective”

Source: Eka