Syneco Trading GmbH, a municipal energy procurement company based in Munich, has successfully completed the implementation of the first two phases of their ETRM replacement project, and are now live with short-term power trading as well EUA / GoO trading.
Syneco now processes up to 60’000 trades per day in Previse Coral, with event-driven full automation of post-trade processing.
In May 2024, Syneco had decided to replace the existing ETRM application, a decision mainly motivated by the changing requirements in short-term electricity trading and the increasing importance of renewable energies. Specifically, the demand for high system performance, driven by rising trading volumes, had played a pivotal role.
Syneco opted for a phased implementation of Previse Coral, with short-term power trading delivered as the initial project phase, followed by certificates trading (EUAs and GoOs) and risk management, including Value-at-Risk. The remaining two project phases will also migrate long-term power trading as well as gas trading into Previse Coral.
“Previse Coral has delivered the high-volume processing capability, adaptability and scalability we require to support the ongoing transformation of our post-trade operations. The collaborative efforts between Syneco, Previse, and our partners have been instrumental in driving the project forward. We are pleased with the progress made so far and anticipate further positive developments as we advance through the next phases.”
Karoline Stich, CIO at Syneco Trading GmbH
“I am immensely proud of the successful deployment of the first two phases of Previse Coral at Syneco. This project showcases the platform’s capacity to deliver high performance, while streamlining post-trade processing. Powered by next-generation technology, Previse Coral provides Syneco with the robust capabilities needed to excel in today’s dynamic market environment. This accomplishment is the result of a highly committed, collaborative effort, and I look forward to further achievements as we move ahead.”
Asbjørn Hansen, CEO of Previse Systems
About Syneco Trading GmbH
Syneco is a leading municipal energy procurement company. As the energy market changes, we are evolving from a trading company into a provider of services for all stages of the energy procurement process. Our offering covers all relevant services for energy procurement at municipal energy supply companies. These include market access, market information and energy logistics as well as portfolio and risk management.
We are a Plus Company of Thüga Aktiengesellschaft. With the Plus companies, the Thüga Group endeavours to efficiently combine various services in the Thüga network.
The aim of Syneco is to save costs through bundling and automation. This is achieved through long-term partnership at eye level. We ensure low procurement costs with the highest quality in all processes. In close cooperation with our partners, we develop solutions for individual requirements, focussing on flexibility, speed and, above all, trust. For a forward-looking, cost-effective and environmentally friendly energy supply.
About Previse Systems
At Previse Systems, we fundamentally reshape the way Energy Trading and Risk Management (ETRM) software is designed, implemented and operated. We offer a highly performant SaaS solution for European electricity, natural gas and certificates trading – combining modern software architecture with the latest available tools and technology.
As a conceptual innovation, we build on the notion of “community”, with an infrastructure for energy companies to leverage synergies through collaboration in the IT domain. The goal of this is simple: better software, faster and at lower cost. We create software without any legacy burden. Our data structure follows accepted market standards, which drives easy and fast data migrations, and is also a core factor of strong system performance.
With Previse Systems, energy companies are well equipped to master the challenges of a fast-evolving environment.