Power, Gas, Oil & LNG Trading
Trading lifecycle, scheduling, logistics, valuation, risk and settlement.
Energy Trading & Commodities
Market, Pricing & Reference Data
One curve, one instrument record, one delivery point — consumed by every function at the same time.
Overview
A trading business runs on its curves: forward prices, volatility and correlations, index and assessment prices, and the instrument, counterparty and delivery-point reference data underneath. When sourcing, validation and ownership are unclear, each function keeps its own version, and the differences surface at month-end as valuation disputes and reconciliation breaks.
We build the data foundations once, for everyone: curves sourced from exchanges, brokers and price reporting agencies with documented validation and clear ownership; instrument and delivery-point reference data governed at source; and distribution that gives the trading, risk and settlement systems the same numbers at the same time.
The work covers curve construction and marking, illiquid tenor and basis handling, new-instrument setup, and the data quality controls that keep it reliable. Delivery runs through our Market, Pricing & Reference Data and System Integration practices.
What we do
Forward curves built from exchange settlements, broker marks and assessment prices, with a defined method for illiquid tenors, basis and location spreads. The marking process is documented, overrides are recorded, and the same curve reaches every consumer.
Sourcing agreements and feeds from exchanges, brokers and price reporting agencies, with validation that catches stale, missing and off-market prices before they reach valuation. Ownership of each curve and price series is assigned and exercised in the daily process.
Instruments, counterparties, delivery points, units and calendars set up once and governed at source. Changes follow a controlled path, and downstream systems consume the same record, so deals do not fail on setup differences between systems.
A defined path for new products and markets: instrument templates, curve and index setup, delivery-point and calendar data, and testing through valuation, risk and settlement before the first deal is captured. The setup work stops being a bottleneck for the desk.
Quality rules and monitoring on the data every function consumes, exception workflow with named owners, and distribution that delivers the trading, risk and settlement systems the same numbers at the same time. Month-end starts from agreed data.
What to expect
The first step is an inventory: which curves, price series and reference datasets exist, who owns each, and where the versions diverge. From there we fix the highest-cost divergences first — usually the curves behind valuation disputes and the reference data behind settlement breaks — and build ownership and controls as each dataset is repaired. Desk, risk and operations are in the room together throughout.
01
Assess
Establish the current state, the constraints, the risks and the value at stake.
02
Define
Shape the target model and the business case with the executives who own the outcome.
03
Mobilise
Stand up the team, the plan and the governance around the outcome.
04
Implement
Design, build and test the change, with the business alongside.
05
Sustain
Cutover, hypercare and handover, so the business runs it under its own control.
The same five stages on every engagement, led by senior practitioners end to end. How we work
Insights
Related thinking.
Get in touch
Talk to a Partner about Market, Pricing & Reference Data.
Tell us what needs to change and where the pressure or risk is showing.