Trading, Business & Finance
#8
Six Things Commodity Desks Need to Know This Week
Your Wednesday briefing on trading technology, markets, risk and regulation, in 5 minutes. Edition #8 of The Trading Narrative.
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Every narrative we've ever published, searchable.
Essay series
Trading Operations3 essays
A running series on the operational backbone of commodity trading: freight, demurrage, market structure, and the data discipline that separates good desks from great ones.
Read the seriesThe Trading Professional6 essays
A six-part series on building a durable career in commodity trading: future-proofing your skills in an AI-first market, moving from trader to desk head, navigating ETRM vendors, reading the room, and building the reputation and judgment that compound over decades.
Read the series16 essays found
Anish PujariSep 23, 2026 14 min readTrading, Business & Finance
#7
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Six Things Commodity Desks Need to Know This Week
Your Wednesday briefing on trading technology, markets, risk and regulation, in 5 minutes. Edition #6 of The Trading Narrative.
Anish PujariSep 16, 2026 14 min readDelivery & Systems
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What an ETRM Implementation Really Costs
The licence is the smallest number in the deal. A line-by-line breakdown of what Endur, Allegro, and RightAngle programmes actually cost once you count integration, data, people, and the upgrade treadmill, from someone who has signed the change orders.
Anish PujariSep 7, 2026 6 min readDelivery & Systems
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Endur vs Allegro vs RightAngle: An Implementer's Honest Comparison
All three ETRMs now live under one owner, and every RFP still treats them as rivals. After a decade of implementations, here is how Endur, Allegro, and RightAngle actually compare where it matters: commodity fit, compliance, AI, upgrade pain, and the total cost nobody puts on the first slide.
Anish PujariSep 7, 2026 7 min readTrading, Business & Finance
#5
Five Things Commodity Desks Need to Know This Week
Your Wednesday briefing on trading technology, markets, risk and regulation, in 5 minutes. Edition #5 of The Trading Narrative.
Anish PujariSep 2, 2026 14 min readDelivery & Systems
Why Most ETRM Implementations Fail in the First 90 Days
The system does not crash. The business quietly works around it. Why the first 90 days decide an implementation's fate and what the firms that get it right do differently.
Anish PujariAug 27, 2026 7 min readTech & AI
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AI in Trading Ops: What's Real and What's Hype in 2026
Some of what vendors sell is transformative, some is a thin wrapper with a new label. What is actually working on commodity desks in 2026 and what is not.
Anish PujariAug 27, 2026 5 min readDelivery & Systems
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The Skills Commodity Desks Are Quietly Paying a Premium For Right Now
Not exotic credentials: the translation layer, data fluency, regulatory literacy, implementation experience, and the ability to operate in ambiguity.
Anish PujariAug 27, 2026 7 min readDelivery & Systems
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What ETRM Vendors Won't Tell You, and What That Means for Your Career
The gap between what was sold and what gets delivered is where careers are made and lost. The questions to ask before, during, and after an ETRM implementation.
Anish PujariAug 27, 2026 5 min readPersonal Growth
Future-Proofing Your Career in an AI-First Commodity Market
The work that is disappearing was never really yours. What to learn, what cannot be automated, and how to position for the next role in an AI-first commodity market.
Anish PujariAug 27, 2026 4 min readTrading, Business & Finance
#4
Hormuz Rewrites the Freight Book, Copper Prints a Record, and AI Learns to Keep an Audit Trail
Hormuz rewrites the freight book, copper prints a record, ComTech cuts the CTRM forecast, agentic AI arrives with an audit trail, and REMIT II turns enforcement. Edition #4 of The Trading Narrative, in 5 minutes.
Anish PujariAug 26, 2026 10 min readTrading, Business & Finance
#3
Hormuz Stays Shut, OPEC+ Runs Out of Barrels, and the CFTC Questions the Trading Day
Your Wednesday briefing on trading technology, markets, risk and regulation, in 5 minutes. Edition #3 of The Trading Narrative.
Anish PujariAug 18, 2026 10 min readTrading, Business & Finance
ETRM vs CTRM: What's the Difference, and Which One Do You Actually Need?
ETRM software manages energy trading across power, gas, and oil, while CTRM covers the full physical commodity lifecycle including metals, agriculture, and freight. A plain-English comparison from twelve years of delivering both, with a practical checklist for choosing.
Anish PujariAug 14, 2026 4 min readTrading, Business & Finance
#2
Oil's Sharp Slide, OPEC+ Completes the Rollback, and Smelters Paying Miners
Your Wednesday briefing on trading technology, markets, risk and regulation, in 5 minutes. Edition #2 of The Trading Narrative.
Anish PujariAug 10, 2026 7 min readDelivery & Systems
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Delivering a Power Trading Desk: System Compliance, Lifecycle Design, and Why Agile/SAFe Changes the Economics
Compliance is not a phase you add at the end, it is a property of every design decision from sprint one. What twelve years of ETRM delivery teaches about building the systems behind a power desk.
Anish PujariAug 8, 2026 21 min readTrading, Business & Finance
#1
Five Things Commodity Desks Need to Know This Week
Your Wednesday briefing on trading technology, markets, risk and regulation, in 5 minutes. Edition #1 of The Trading Narrative.
Anish PujariAug 7, 2026 3 min read