About Us

LEAP’s Mission

The mission of LEAP is to promote efficient and reliable transaction processing within the trading of crude oil and refined petroleum products by means of automation and standardization.

In connection therewith, LEAP may do the following:

  • Pursue the automation of data processed between trading counterparties and companies that provide ancillary inspection, storage, pipeline movement, and related services,
  • Promote simplifying business standards and practices,
  • Develop and promote the use of non-proprietary electronic data standards, conventions and dictionaries, favoring industry standards over proprietary ones,
  • Retain control when necessary over such standards and practices and the intellectual property created therein, while making same freely available to industry participants by means of licensing for use,
  • Encourage cooperation among the energy trading parties and other industry participants/associations towards achieving our mission,
  • Encourage broad based participation in LEAP, and
  • Provide equal access to the standards for all members.

Membership in LEAP is open on a nondiscriminatory basis to energy trading entities
(defined as crude oil, petroleum products, ethanol and possible power and gas).
All members must be legal entities, not natural persons.

LEAP’s Purpose

LEAP was formed in 2006, its mission is to promote efficient and reliable transaction processing within the trading of crude oil and refined petroleum products by means of automation and standardization. Our founders are a group of oil majors, banks and independent traders, who are the main beneficiaries of automation. The major goals of LEAP include increased accuracy and timeliness, consistency, efficiency, managed risk, and regulatory credibility through voluntary automation and standardization of energy trades. LEAP believes that the automation of transactions presents counterparties with the opportunity to cut down on front office volume limitations and bottlenecking caused by manual processes.

 

Fellow Organizations

There are a number of other industry organizations which share some of LEAP’s aspirations for improving industry transactions processing efficiency and reliability. LEAP’s primary focus is on energy trading automation, with a specific emphasis on physical energy trading. LEAP actively seeks to engage with other industry organizations to share information about our automation and standardization activities and initiatives, and to avoid confusion or duplication of effort.

Connect With Us

LEAP LinkedIn Group