### People - Chris Bowden - Used to be a structured trader working on the gas markets - Anish - Marcel ### ATOM ATOM is a new business, software platform -- track of complex products for deal booking and dependency automation.. Contract as constraints. Building a portfolio of positions that were hard to optimize operationally, as in to consider the scope of the risks associated with contracts. Scaling was not about market risk, the issue is operational. The difference in the contracts, operational variances in terms of constraints that have penalties if not abide by Flow Product: 99% is market risk Structured Products: 50:50 to market to operational risk Tool to capture what we have traded, a protocol for describing contracts. Operational complexity handling. Complexity even within the contracts. Constraints are Contract Specific, and could be thought about the ##### Today how much can we automate position management for a structured position. less focused on hedging, more operationally running that book. 1. Consistently be able to describe any contract, have a structure and protocol today - We have this today. 2. Take the state of the graph and see what the change could be ### Simple Test Case Contract that runs for 3 days. Obligation that total gas delivered onto the system is 0 Every hour I am allowed to put on / take off 1 unit. When we talk about a specific hour, should we take on / take off gas? 1. When I do this, would I be allowed to do this? 2. Look at more of the graph and evaluate commercially Storage optimization Look at it in terms of time dimensions. - Today's impact tomorrow - Tomorrow's decisions impact today's come to a more stable valuation approach improve decision making We have got this pool of contracts, which one of these would give me the most value. ----