Why We Built Allasso
Felix Euler spent eight years on energy trading desks in Zurich and Geneva. Every desk he worked on priced commodity options with tools designed for equity markets — tools that assumed continuous trading, no delivery constraints, and symmetrical volatility smiles.
The workarounds were absurd. Traders maintained private spreadsheets with seasonal adjustments layered on top of Black-Scholes output. Risk reports were stitched together from three different systems. Greeks for spread options were calculated by hand in Excel because the existing tools could not model correlation between delivery months.
In 2023, after a particularly expensive mis-hedge on a natural gas calendar spread, Felix decided the commodity options market needed its own pricing infrastructure. He left his role, hired two quantitative developers from ETH Zurich, and started building Allasso from a co-working space near Paradeplatz.
Today, Allasso handles real-time pricing across 60+ commodity markets. The team is still small — 12 people in Zurich — but the platform processes thousands of option valuations per second for trading desks that used to rely on overnight batch runs.
