The client’s existing processes for end-of-day day reporting were cumbersome and manual, keeping teams focused on data preparation versus data analysis. As a result, data and insights for PnL attribution and daily position management were lacking.
- Out-of-the-box reporting out of the Commodity Trading and Risk Management (CTRM) system were limited and lacked time series analysis showing trends over time
- Configuration of new reports required a specialized CTRM developer with knowledge of the CTRM data model
- Business teams needed to extract data sets from CTRM, determine what they needed, and manipulated the data using spreadsheets to generate reports
- Large datasets overwhelmed manual spreadsheets and caused critical reports to become unstable
MRE leveraged a proprietary Data Warehouse Accelerator, Operational Data Store (ODS), to automate the process of data preparation.
The ODS solution connects directly to CTRM to extract relevant data, transform the data, and load it to a secure data repository daily. This data is then pulled into a data mart to make it available for reporting and analytics.
The initial in-scope data was focused on PNL, related Explain data, and daily position management data. They have since expanded to include market data (forward prices, historical settles, volatilities, correlations).
Since ODS is separate from the CTRM, complex data analysis activities can be completed without impacting the transactions being conducted in CTRM. The solution was successfully deployed without impacting day-to-day business users of the existing CTRM system.
The new reporting capabilities alleviated pressure on business teams and enabled them to enhance their reporting capabilities.
The Risk team is the primary business stakeholder group, and they are conducting all daily reporting utilizing ODS. They have built multiple visualizations on top of the ODS and are looking forward at expanding the solution to include scheduling and settlements data as well.
Key Benefits Included:
- A “single source of truth” for business data for all reporting groups
- Time series reporting to identify day-on-day changes and trends
- Ability to set up new reports quickly by a business user using connected reporting tools such as Tableau
- Reduced time devoted to preparing and processing data
- Improved dynamic which promotes efficiency throughout the entire business organization