Litasco goes live with MDXT’s trader collaboration solution
Enables traders to collaborate more effectively in real-time
MDX Technology (MDXT), a leading provider of real-time data collaboration solutions for the trading community, is pleased to announce LITASCO SA, the trading company of LUKOIL, has gone live with MDXT. LITASCO has embedded the solution within a custom developed pricer, which enables their traders globally, to share key pricing information in real-time with live updates and alerts.
Jerome Bourgin, Market Data Manager at LITASCO commented. “As a global business we are constantly looking for ways to improve trader collaboration which in turn will improve our overall customer service capabilities. The MDXT solution is helping us to achieve this key objective. The first phase of the implementation is being used by our traders who are based in Geneva, New York City and Singapore and can now all share the same picture of all potential transactions in real-time, before trade execution, irrespective of their geographical location. This is very important because we can now very quickly, and accurately, provide our clients with a variety of trading opportunities based on validated pricing information.”
Paul Watmough, CEO at MDXT concluded. “The relationship with LITASCO is another great endorsement of our technology and is a further demonstration of its appropriateness for the energy and commodities market. We worked closely with them to ensure the seamless integration of our components within their existing trading models. Our flexible collaboration tools including Excel, webpages, and mobile apps, were key to the overall success of the project. Leveraging the cloud ensured a speedy and cost-effective implementation process and we look forward to continuing to work closely with LITASCO in the future.”
MDX Technology is the market leading provider of a highly flexible, bi-directional data connectivity, collaboration and distribution platform ensuring all our users get the data they need, where and when they need it – on time, every time. These unique offerings have been created to enhance, and fully support, the needs of both Sell and Buy side financial firms, Trading Venues, Inter Dealer Brokers and Commodities and Energy firms. Our proven solutions, developed by the industry’s leading experts in this field, are in daily use within some of the world’s premier trading institutions. MDX Technology is privately owned. The Company is headquartered in London, with sales and customer support representation in all the major financial centres, either directly or via our trusted international partner network. For more information, go to www.mdxtechnology.com.
About LITASCO SA
The exclusive international marketing and trading company of LUKOIL. Has affiliates in Germany, Kazakhstan, Singapore, Sweden, the United Arab Emirates, the United States, the Netherlands as well as representative offices in China, Iraq, India and Russia.
LITASCO’s mission is to maximize the results and value of LUKOIL’s crude oil production and refined petroleum product exports by trading, shipping, storing and hedging. The company ensures flexible and reliable supplies to the international assets of the LUKOIL Group LITASCO fulfils this mission by taking a holistic view of the business from origination to the end user. The company builds and implements strategies, which under strict trading limits and controls enables them to capture the greatest value for its hydrocarbons in a constantly evolving market environment.