The agreement allows KISTERS to resell Powel’s Algo Trader solution in their market, securing their position and creating new business opportunities for both parties. It is part of Powel’s strategy and further strengthens our position as a trusted international supplier of energy production and trading solutions.
Powel and KISTERS are both software developing companies active in the European energy market. KISTERS decided not to develop its own algorithmic trading solution, instead selecting Powel’s Algo Trader to complete this area of their product portfolio and allowing for a quicker time to market. In addition to sales and market activities, KISTERS will oversee the entire client process, including customer support.
The agreement is a win-win situation for both parties. The innovative solution has extremely high potential in a market always looking for more efficient and accurate systems. As a SaaS solution, Algo Trader has a monthly subscription fee. Due to its usability out of the box and low integration efforts, the initial starting investments are very low.
Powel’s Algo Trader utilises complex algorithms to assist traders in making high-speed decisions and transactions in rapidly changing intraday markets. It effectively runs customers’ own strategies freeing up their time to design rather than executing the strategies.
Based on a white-box approach, Powel’s Algo Trader is developed with a strong focus on user-friendly interfaces and features like ’drag and drop’ editor for design and back testing for operation are supporting the users. The white box approach differentiates Powel from competitors favouring customisation of out of the box strategies. All available input data, such as forecasts, can be used in creating strategies.
”We are very proud and happy that KISTERS is starting to resell our Algo Trader to their clients. The company has an excellent reputation in the German, Swiss and Austrian market, and two major vendors in the industry joining forces to develop and deliver a white box based algorithmic trading solution ensures a high-quality solution, which is important when doing automatic trading ,” says Arnt Sollie, Executive Vice President, Powel AS.
”We are very excited about the new cooperation, because Powel's Algo Trader is the perfect complement to our portfolio for the energy market. Customers benefit from the fact that we can offer them high-quality software as well as consulting and support from a single source,” says Klaus Kisters, CEO of KISTERS.
Powel AS, headquartered in Trondheim, Norway, delivers business-critical software solutions and related services to help energy companies and utilities improve daily operational processes and service quality. Powel Smart Energy offers solution through the entire value chain, from forecasting and production planning to logistics and settlement. Powel is a market leader in smart metering, generation, trading, logistic and grid maintenance solutions with offices in Norway, Sweden, Denmark, Poland, Turkey, Switzerland and Chile. Founded in 1996, it is a privately held company with around 470 employees. Powel AG in Switzerland (former Delta Energy Solution AG and part of Powel since 2013) is the competence centre for power and gas trading and logistic solutions. For more information, go to www.powel.com
KISTERS, a global IT company with over 500 employees, headquarter in Aachen (Germany) and several international subsidiaries, develops software solutions for the sustainable resource management of energy, water and air, amongst others. Professional competence and years of operational experience make KISTERS an internationally sought-after partner for software solutions. For the energy industry with its subsectors of energy production, distribution, wholesale/retail and demand KISTERS develops market-oriented, pioneering software solutions. The portfolio includes solutions for energy data and portfolio management, forecasts, virtual power plants, smart metering, smart grid/control technology and lifecycle and asset management of plants and grids. Over 750 companies from the energy sector and other areas of industry rely on KISTERS software. For more information, go to http://www.kisters.eu/energy