Raft international, a supplier of component-based credit risk software, is partnering with energy trading software house KWI to deliver an enterprise-wide risk management solution to global energy businesses.
The agreement covers Raft Credit, a credit risk management application specifically developed for the energy markets, and KWI's flagship product kW3000TM for multi-commodity energy trading and risk management.
The combined platform will offer a suite of applications that can be used for front to back trading and risk management, say the firms.
The move is part of a determined effort by Raft to diversify its product range and reduce its exposure to the cash-strapped investment banking market.
In line with this strategy, Raft has opened a new office in Houston, Texas, and appointed Peter Pavluk, former credit director at Dynergy, as commercial development director with responsibility for the company's business in North America.