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Agrex selects Eka CTRM

First Published 1st July 2013

Eka expands into US agriculture markets with Mitsubishi subsidiary, Agrex

New York/Bangalore - Eka Software Solutions, the provider of advanced commodities and energy trading and risk management technologies has announced further expansion into the US and global grain markets. Agrex Inc., a wholly-owned subsidiary of Mitsubishi Corporation, has selected Eka for agricultural commodity trading and risk management. Eka's end-to-end platform for agri-commodity management, Eka.Agriculture, will be deployed for Agrex's US grain origination and exports.

Robert Barr, Vice President at Agrex, said: "With Agrex's growth over the past several years, there was a requirement for a faster and more comprehensive risk management system. It was important that we have a solution that could provide an integrated view across our domestic and international operations, handling everything from grain terminals and logistics to exports, with a high degree of flexibility to transact financial hedging and risk management, as well as highly-sophisticated reporting tools. Agrex management established a Steering Committee which evaluated the needs of the company and researched the market for a suitable software solution. Eka.Agriculture was the best fit for the requirements of Agrex."

He adds: "Eka clearly understand the complexities of the physical markets and are providing us with a complete farm-to-marketplace solution and an enterprise-wide view of our trading and risk management. The system architecture also lends itself to quicker and easier deployment than other systems we evaluated."

Manav Garg, CEO of Eka, commented: "We are delighted that Agrex has selected Eka.Agriculture to manage their whole supply-chain needs. Agrex now has an integrated view of all its grain procurement, storage, price, marketing, delivery, risk management, mark-to-market and P&L calculations. Eka's global reach and customer base mean that we are able to respond to customers according to their specific and individual business segment and trading requirements."