InstaNext Inc, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that The Empire District Electric Company has chosen InstaNext to manage the hedging of their natural gas purchases.
Based in Joplin, Missouri, The Empire District Electric Company (NYSE: EDE) is an investor-owned, regulated utility providing electric, natural gas, and water service to a customer base of approximately 217,000 in Missouri, Kansas, Oklahoma, and Arkansas.
Empire District plans to use InstaNext to manage their natural gas positions, P&L and accounting of their derivative trades. Empire was impressed with the system’s various analytical and operational processes for their basis trades, as well as the system’s ability to perform broker reconciliation. Leveraging InstaNext’s reporting features, Empire aims to use the system to reconcile their broker positions and generate all of their derivative unrealized and realized P&L and settlement accounting.
“InstaNext’s overall capabilities approach with connecting front, middle, and back offices provides a simplistic way to run mark to market, reconcile, and account for transactions without multiple systems and spreadsheets. We are proud to announce Empire District as one of our newest customers.” Notes Richard Kulaszewski EVP Global Field Operations.
InstaNext is comprised of a team of software and technology experts in the fields of commodity trading, hedging, and risk management. With an extensive portfolio of prior successes in the CTRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex commodities world. The InstaNext platform simplifies every aspect of commodity trading and risk management. The multi-market platform allows companies to analyze their positions in real-time via its powerful analysis capabilities. With InstaNext, historical and scenario-based data can be used to compare current positions against changes in the market, allowing for more effective management of portfolio risk and ensuring profit margins are secure. Using the latest cloud-hosted technology, InstaNext can be implemented quickly and with low risk.