Metals, Agriculture & Commodity Markets
Commodity trading, pricing, risk, contracts, logistics and settlement.
Energy Trading & Commodities
Power, Gas, Oil & LNG Trading
Power, gas and LNG books carry shape, volume and delivery risk — the systems and operations have to represent all three.
Overview
Power and gas books now carry instruments the market barely traded a decade ago: pay-as-produced PPAs, battery tolls and optimisation, shaped and profiled products, cross-border transport and storage capacity. Oil and LNG add cargo economics — freight, inventory, blending and demurrage. Each product brings shape, volume and delivery risk, and each has to move cleanly through deal capture, scheduling, valuation, settlement and invoicing.
We work across that lifecycle. We represent the products properly in the trading system, build the valuation and risk view around them, connect scheduling, nomination and actualisation to the trading book, and put settlement and invoicing on a footing where the physical and financial sides of the same deal reconcile every month.
The work spans front office, scheduling, risk and operations. Platform delivery runs through our ETRM & CTRM Platforms practice, risk frameworks through Market, Credit & Counterparty Risk, and the operational workflow is designed with the people who run it.
What we do
We set up deal capture and book structure so shaped and profiled products, PPAs, tolls and capacity deals are represented as traded, with confirmation, amendment and novation workflow that keeps the book accurate through the life of each deal.
We connect scheduling and nomination to the trading position: delivery points, grid and pipeline nominations, and actualised volumes flowing back against scheduled ones, so the desk, the schedulers and settlements work from the same picture of delivery.
Pay-as-produced PPAs carry shape and volume risk; batteries and storage add tolling and optimisation structures. We design how each is represented, valued and risk-managed — what the trading system holds, what the optimisation platform holds, and the reconciliation between them.
We build the cargo workflow: vessel and freight economics, inventory and blending, laytime and demurrage, provisional and final pricing. Deal, voyage and inventory stay connected, so exposure and P&L reflect the cargo as it actually moves.
End-of-day valuation on agreed curves, P&L explain that separates price, volume and new deals, and exposure that includes the physical position. The desk and risk see the same numbers, produced straight from the system.
Settlement and invoicing built on actualised volumes, with quality and pricing adjustments applied once and reconciliation between the physical and financial sides of each deal. Breaks surface daily, and month-end closes on schedule.
What to expect
The first weeks are spent in the book: deal types, book structure, how scheduling and actualisation connect to the trading position, and where the manual work sits. From there the work runs in weekly sessions with the desk, schedulers, risk and operations, delivered by a small senior team led by a Capmark principal. Most engagements start with one product or one workflow and widen from what the first piece shows.
Engagements run from a focused review of a single product or workflow to delivery across the full trading lifecycle.
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 Power, Gas, Oil & LNG Trading.
Tell us what needs to change and where the pressure or risk is showing.