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Barclays Bank PLC Goes Live on SolArc RightAngle
HOUSTON & LONDON-(Business Wire)-June 18, 2008 - SolArc, an innovative, market-focused software company that dramatically improves the performance of commodity-intensive businesses, announced today that Barclays Capital has gone live on its SolArc RightAngle platform.
Barclays Capital traders, risk and tax managers will be operating SolArc RightAngle from Asia, North America and the U.K. for physical oil and refined products trade capture, risk analysis, inventory management, tax calculation and reporting, to name a few functions.
Jonathan Taylor, Managing Director, Commodities Management & Support, Barclays Capital, said: "We are very pleased to be working with SolArc. Over the last decade, Barclays Capital has steadily built up a very strong, client-focused commodities business and a robust and scaleable IT platform has been key to facilitating this growth. As we extend our existing risk management business into physical oil and refined products, the partnership with SolArc will enable us to ensure we continue to have a premier IT platform to support each aspect of our business."
Brad Anderson, CEO, SolArc, added: "Our partnership with Barclays endorses our claim that SolArc RightAngle is the best solution for companies looking to improve performance of their commodity related business regardless of industry and commodity. We will continue to work very hard to ensure Barclays Capital's success and look forward to a long and beneficial relationship."
About SolArc
SolArc, Inc. is a global provider of commodity trading and risk management software and services that can dramatically improve the operational and financial performance of companies dependent on commodity-intensive markets. SolArc's integrated application suite delivers greater enterprise insight and control over the entire commodity-based value chain within an organization. The SolArc solution offers innovative technology based on industry-leading services and world-class expertise that connect professional disciplines like trading, scheduling, accounting and risk management across both physical and financial commodity transactions.
Since 1991, SolArc has become a trusted solution provider for an international clientele of leading corporations across a range of vertical industries, including Energy, Transportation, Finance, Agriculture, Consumer Goods and others. Headquartered in Houston, Texas, SolArc also has offices in Tulsa, Oklahoma, London, and Singapore. To learn more about SolArc, please visit www.solarc.com.
About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over GBP 1.2 trillion. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has offices in 29 countries, employs over 16,200 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide.
For further information about Barclays Capital, please visit our website www.barclayscapital.com.
Barclays Capital - the investment banking division of Barclays Bank PLC. Registered in England 1026167. Registered office 1 Churchill Place, London, E14 5HP. Authorised and regulated by the Financial Services Authority and a member of the London Stock Exchange.
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