Reports Vendor Perception Study

2014 ETRM / CTRM Vendor Perception Study remaining company segments comprised less than 10% each. (Figure 2). Figure 2: Respondent Company Types Oil&Gas Exploration Mining/Metal Producer Hedge Fund/Investment… Industrial Commodity… Agricultural… Chemical/Petrochemical/R… Merchant/Trader/Broker Consultant/Systems… Utility/Generator 0% 10% 20% 30% 40% 50% Figure 3: Types of Commodities Traded Emission Credits Freight Rates Base Metals Precious Metals Ags/Softs Energy SAM NAM 5% 10% Middle East 15% Europe 20% Asia-Pacific Figure 4: Primary Commodities Traded All Commodities Emission Credits Freight Rates Base Metals Precious Metals Ags/Softs Energy 0% Asia-Pacific 20% Europe 40% Middle East 60% NAM SAM Figure 5: 2013 Estimated CTRM Market by Commodity Class Other (Freight, Emissions,… Ags/Softs Other Metals and Ores Precious Metals Energy 0% 20% 40% 60% Source: 2013 CTRM Market Size Report, Commodity Technology Advisory © 2014 Commodity Technology Advisory, llc It should be noted, however, that many of the respondents did indicate that their company spanned multiple industry classes and that many of the companies identified as traders and refiners could also be representative of the oil and gas exploration/production markets. That being said, based upon ComTech research, it does appear that the oil and gas companies are under-represented in our data. Note: Responses from Consultants/Systems Integrators were not solicited nor considered for inclusion in questions relating to software systems in current use, commodities traded, or satisfaction with current software solution in use. All Commodities 0% Commodity Technology Advisory llc 80% When looking at the commodities traded by our respondents (Figure 3), it is somewhat surprising at first glance to see the most cited traded commodity is emission credits; however, considering the single largest respondent group to our survey is the Utility/Generator segment, it should not be all that surprising, particularly given that more than 90% of those are located in Europe and North America, region with established emissions programs. In addition to emissions, we do see a good distribution of commodity types traded by our respondent group, with all commodities represented in almost all geographic regions. When asked to identify the primary commodities traded, we do see what would be a more normal distribution - one that is more reflective of the current markets and installed base for CTRM solutions. Energy was clearly the most commonly traded single commodity class. A number of North American respondents indicated they traded all the commodity classes in question, with none being referred to as a primary commodity (Figure 4). Interestingly, when comparing the primary commodities traded by our respondent group, the results do correlate very well with estimated market share of the commodity classes noted in Commodity Technology Advisory’s 2013 CTRM Market Sizing Report (Figure 5). The respondents were asked to identify which system they were currently using (Figure 6). Allegro was most commonly cited system currently in use with our respondent group, with 19% reporting its use. SunGard users accounted for about 8%, OpenLink about 6%, and Triple Point accounted for 7

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