VAKT, a leading provider of blockchain and AI based post-trade management solutions, is pleased to announce that Shell Trading Rotterdam has successfully implemented the vSure product on the VAKT platform in the North-West Europe Barges market.
‍

Shell has digitally confirmed its first physical oil trade with a counterparty on VAKT, eliminating the need for paper contracts through the vSure platform. This transition reduces errors and risks throughout the lifecycle of a deal, ensures trade details are correct from the outset, and provides access to structured deal data. It also reduces manual activities, driving efficiencies in Contracts, Commercial Operations, and Finance.
‍

The vSure product facilitates seamless post-trade processes, significantly reduces operational risks, and improves regulatory compliance. Leveraging the VAKT platform, customers gain real-time visibility of data accuracy at trade entry through automated discrepancy flagging and enhanced collaboration with trading partners, eliminating significant email correspondence.
‍

The implementation of vSure on the VAKT platform was executed jointly by Shell and VAKT by employing an efficient agreed methodology, allowing Shell to go live swiftly with minimal disruption. The project began with a comprehensive scoping phase, where VAKT’s team conducted an in-depth analysis of Shell Trading Rotterdam’s requirements and existing systems. This ensured a tailored implementation that met the specific needs of the business. The subsequent phase included rigorous testing to ensure system integrity and functionality, culminating in a successful go live.
‍

Joerg Wienke, Senior Vice President for Commercial Operations, Shell Trading & Supply said, “We are happy to integrate VAKT’s vSure product into our contracts space. The transition to legally binding digital confirmations will streamline our contract management process, providing greater speed and security. The implementation and the functionalities of vSure will support our growth and operational excellence across the physical oil markets.”
‍

Tasja Botha, CEO of VAKT, commented, “We are thrilled to welcome Shell to our expanding network of vSure clients. The adoption of vSure by a market leader like Shell underscores the value of our platform in driving operational efficiency and risk management. The move to digital confirmations marks a significant step forward in modernising the physical oil post-trade process. We look forward to a long and successful partnership, as we continue to support their strategic objectives.”
‍

VAKT continues to engage with leading players in the energy sector, helping them navigate the complexities of modern trading environments with innovative, industry standard structured data over blockchain and the latest AI solutions. The deployment of vSure at Shell marks another milestone in VAKT’s mission to transform post-trade management in the commodities market.