Your ETRM vendor promised a platform. You got a compromise.
The system that can't show P&L the way traders need it. The architecture that looked sound until it met real volume. The integration project that's six months late and counting.
We've solved each of these, by building bespoke software solutions at Shell, Centrica, Limejump, and other leading trading desks.
Start with a conversationTrusted by teams at
Your ETRM was supposed to handle P&L. Your traders are still in spreadsheets.
At Shell, we replaced spreadsheet-based P&L across six-plus trading desks with a real-time multi-layer platform — because the vendor system couldn't deliver it.
Read the Shell case study →Design flaws compound silently until they hit real P&L
Architecture decisions made early — data models, event pipelines, position aggregation — determine whether your platform scales or stalls. A second opinion before you commit is worth more than a rewrite after.
Advisory services →Exchange connectivity, multi-market standardisation, regulatory compliance
EPEX SPOT, N2EX, TTF, THE, PEG, NBP — each with its own protocols, units, and settlement rules. Add EMIR and REMIT reporting deadlines and the integration surface becomes the bottleneck.
Advisory services →Insights
Technical deep-dives on European power trading.
Global Gas Market | LNG Shipping & NBP-Henry Hub Pricing
FUNDAMENTALS
Master global gas market dynamics: LNG shipping economics, netback pricing, storage arbitrage, and why UK prices track Henry Hub with a 6-8 week lag. Essential foundation for understanding the gas input costs in spark spread calculations.
Read More →Mark-to-Market P&L Calculation | Energy Trading Guide
FUNDAMENTALS
Master MTM P&L from first principles: the core formula, realized vs unrealized P&L, why sign matters, real-time monitoring, and interpreting hedge-effective portfolios. The foundation for daily risk management, margin calls, and performance measurement.
Read More →Position Aggregation & Delta Exposure | Energy Trading
FUNDAMENTALS
Master position aggregation from first principles: signed quantities, the three-key rule, physical vs financial splits, delta exposure, and hedge ratios. Includes Python implementation of a position engine - the foundation every trading system uses.
Read More →Spark Spread Calculation | Power Plant Economics Explained
FUNDAMENTALS
Master spark spread calculations: efficiency factors, carbon emissions, hourly variation, and why plants run at losses. Includes Python implementation and real-world trading strategies for CCGT dispatch decisions.
Read More →Physical Foundations of Energy Commodities
FUNDAMENTALS
Master the physical foundations of energy trading: instant grid balance, merit order dispatch, and how infrastructure constraints create trading opportunities. The essential foundation for understanding spark spreads, gas shipping, and storage arbitrage.
Read More →Physical vs Financial Energy Trading | UK Gas & Power Guide
FUNDAMENTALS
Comprehensive guide to physical vs financial energy trading in UK and European markets. Covers spatial arbitrage (NBP-TTF pipeline trading), temporal arbitrage (storage economics and forward curves), quality arbitrage (spark spreads), and the software architecture challenges of building integrated ETRM systems. Essential for engineers, quants, and aspiring energy traders.
Read More →London-based advisory for European energy trading
A115 advises trading firms on platform architecture, technology partnerships, and market entry. We validate designs before they become commitments, connect firms with the right talent and capital, and provide the market intelligence that informs better technology decisions.
Read more about A115...Meet the founder
Jordan Dimov founded A115 in 2011. Through A115, he's spent over a decade building production trading platforms at Shell, Centrica, and Limejump — and now advises firms on the technology and partnerships that drive trading performance.
Read more about Jordan Dimov...