London, 30 March 2011

Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced that it was named a leader in Gartner Inc.’s report, “Magic Quadrant for Energy Trading and Risk Management Platform.”

Gartner is an information technology research and advisory company, and their annual Magic Quadrant analysis of ETRM platforms serves as a research tool for companies seeking ETRM solutions.  The results are based on Gartner’s evaluation of 15 ETRM vendors, four of which were placed in the Leaders Quadrant.

“We are pleased to  be recognized by the Gartner report as a leader in the ETRM market space.  Placement in the Leaders Quadrant further highlights our ability to deliver functionally rich ETRM solutions that exactly match our customer’s business needs,” said Eldon Klaassen, Allegro CEO. “We made numerous advancements in 2010, including the introduction of an agile deployment approach that focuses on rapid attainment of customer business objectives.”

Gartner named Allegro to the Leaders Quadrant for meeting the needs of the energy market based on an assessment of “Ability to Execute,” which includes the quality and efficiency of the processes, systems, methods, or procedures that enable performance to be competitive, efficient, effective, and to positively affect revenue, retention, and reputation. Allegro was also recognized for ”Completeness of Vision,” which assesses a solution provider’s ability to convincingly articulate logical statements about current and future market direction, innovation, customer needs, and competitive forces.

As noted by Gartner, vendors in the Leaders Quadrant offer “applications that cover all core ETRM platform requirements for all traded commodities within energy markets, extending coverage in key areas such as market and credit risk management, logistics or portfolio/asset optimization.  These vendors have true global coverage, providing solutions to all major energy markets.  In addition, these vendors demonstrate established relationships with complementary product and service providers in all regions, a well-defined corporate and marketing strategy, and strong financial viability.”

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