Commodity trade lifecycle streamlined with the introduction of LLM Agent by ipushpull
In a groundbreaking move, ipushpull, a leading platform transforming enterprise chat and message data, has launched Trade Capture & Booking for the North American natural gas market in partnership with Koch Energy Services, a leading physical gas trader.
The founding CEO of ipushpull, Ian Simmonds, has been instrumental in developing this innovative solution alongside Koch Energy Services. The partnership has been warmly received by Darnell Bortz, Director of Natural Gas Trading at Koch Energy Services, who believes it will provide future opportunities for their business. Bortz has expressed his excitement about the ipushpull platform, stating that it will significantly reduce errors and improve the day-to-day work for Koch Energy Services.
Natural gas traders communicate and transact on ICE Chat using a unique abbreviated language. The ipushpull platform's cutting-edge agent translates this trader-speak into the trade details needed to book physical gas trades, demonstrating its effectiveness in the physical gas market for Koch Energy Services.
The new service, which eliminates manual trade entry, has been swiftly adopted by Koch Energy Services due to its ease of use and immediate benefits. The ipushpull platform has integrated and enhanced Koch's DealStream solution into their platform to automate trade booking via chat, thereby streamlining the trade booking process.
The service automates workflows across front, middle, and back-office, reducing the likelihood of trade booking errors. This is particularly significant as trade booking errors can result in inaccurate positions and increased risk with implications across trading, risk management, and compliance.
Koch Energy Services has executed over 35,000 trades through the ipushpull platform with impressive results. The platform has decreased trade input time by approximately 75% for Koch Energy Services, providing a more efficient and productive work environment. The enhanced overall employee experience for Koch Energy Services is a testament to the platform's effectiveness.
Matthew Cheung, CEO of ipushpull, stated that the partnership with Koch demonstrates the increasing importance of automating chat workflows in energy and commodities trading. He believes that the ipushpull platform is a stepping stone for expanding into other energy and commodities trading markets.
Darnell Bortz echoes this sentiment, expressing his belief that the partnership will provide future opportunities for their business. As the world continues to digitalise, the need for efficient and error-free trade booking solutions is more crucial than ever, and ipushpull's Trade Capture & Booking is at the forefront of this revolution.
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