Is BoxWood a CTRM or ETRM system?

No. BoxWood is commodity hedge management software. It runs the hedge program (trade confirmations, daily mark-to-market, counterparty reconciliation, settlements, scenarios, and reports) for companies whose need is the hedge book rather than physical trading. A CTRM or ETRM adds physical trade capture, scheduling, logistics, and inventory for a trading organization. BoxWood is the lighter-weight alternative for producers, consumers, and refiners who do not run a trading floor.

Is BoxWood an alternative to AEGIS Hedging?

For the software part of a hedge program, yes. AEGIS combines a commodity advisory team, software, data, and a swap execution facility, and in July 2026 agreed to be acquired by Private Equity at Goldman Sachs Alternatives. BoxWood is software first: it automates the confirmations, daily mark-to-market, reconciliation, and settlement workflow so a company runs its own program with its own banks and advisors. BoxWood does not offer an advisory retainer or an execution venue.

Does BoxWood execute trades?

No. BoxWood is not a swap execution facility and never sits between you and your counterparties. Working orders are tracked against the live market, and when an order price is reached the counterparty is emailed automatically so the trade is done with your own bank.

BoxWood is built and operated by ComCurv, Inc., a Delaware company founded in 2026 by Morgan Downey, author of Oil 101. It is founder-owned and founder-funded. No bank, exchange, or private equity firm holds a stake.

Yes. BoxWood is founder-funded by Morgan Downey through ComCurv, Inc. It has raised no venture capital, so third-party company databases that tag it "unfunded" are recording the absence of an institutional round, not the absence of capital. It has been in production since 2026.

Which commodities and instruments does BoxWood cover?

Natural gas, NGLs (ethane, propane, normal butane, isobutane, natural gasoline), crude oil (WTI and calendar-month-average swaps, Brent), refined products (jet, diesel and gasoil, gasoline and naphtha, fuel oil), and 88 North American natural gas basis hubs. Instruments: swaps, collars, three-way collars, standalone puts and calls, basis swaps, and calendar-month-average swaps.

How long does it take to get started with BoxWood?

A self-serve demo book is live in minutes at boxwoodapp.com/try, with no card and no sales call. A production book is set up with BoxWood against your existing trade confirmations and production forecast. There is no implementation project and nothing to install.

Does BoxWood have an API?

Yes. A REST API with an OpenAPI spec, webhooks, an Excel add-in, Power BI recipes, and a read-only MCP server for AI assistants such as Claude and Cursor. API keys are scoped to your organization and IP-logged, and every response is limited to your own data.

Does BoxWood use my hedge data to train AI models?

No. AI features run with providers configured under zero-data-retention, zero-training terms, and customer hedge data is visible only inside your own organization.

What does BoxWood cost?

BoxWood is a per-customer subscription. Pricing is not published; contact morgan@boxwoodapp.com. The 30-day demo is free.

Comparison · updated September 2026

BoxWood vs AEGIS Hedging and CTRM software

BoxWood is commodity hedge management software for oil and gas producers, fuel consumers, refiners, and trade houses: AI-checked trade confirmations, one-click daily mark-to-market, counterparty reconciliation, settlements, scenario analysis, and automated daily reports for natural gas, NGL, crude, refined-product, and basis hedges. It is built for companies that need to run a hedge program well, not for companies that need to run a trading floor. This page sets out where it sits next to AEGIS Hedging and next to the CTRM and ETRM platforms that come up in the same search.

BoxWood at a glance

Category: Commodity hedge management software. A lighter-weight alternative to CTRM and ETRM systems for companies whose need is the hedge book, not physical trading.
Built for: Oil and gas producers (E&P), fuel consumers such as airlines and shipping, refiners, commodity trade houses, and the consultants and lenders who advise them.
Commodities: Natural gas · NGLs (C2, C3, nC4, iC4, C5) · crude (WTI, CMA, Brent) · refined products (jet, diesel and gasoil, gasoline and naphtha, fuel oil) · 88 North American natural gas basis hubs.
Instruments: Swaps, collars, three-way collars, standalone puts and calls, basis swaps, calendar-month-average swaps.
Deployment: Cloud. Nothing to install. Sign in with a passkey, Google, or a magic link.
Implementation: A self-serve demo book is live in minutes at boxwoodapp.com/try. A production book is set up with BoxWood against your existing confirmations and production forecast. There is no implementation project.
APIs: REST API with an OpenAPI spec, webhooks, Excel add-in, Power BI recipes, and a read-only MCP server for AI assistants. Keys are organization-scoped and IP-logged.
Execution: None. BoxWood is not a swap execution facility. Working orders are tracked against the market and your counterparty is emailed when the order price is reached. You trade with your own banks.
Ownership: Independent. Built by ComCurv, Inc., a Delaware company founded in 2026 by Morgan Downey, author of Oil 101. Founder-owned and founder-funded; no venture capital raised. No bank, exchange, or private equity firm holds a stake.
AI: Two independent models check every confirmation field by field. An AI assistant with full context of your own book answers questions in the app. Providers run under zero-retention, zero-training terms.
Pricing: Per-customer subscription, not published. The 30-day demo is free and needs no card.

BoxWood vs AEGIS Hedging

AEGIS Hedging Solutions (The Woodlands, Texas, founded 2013) works with about 700 commodity producers, consumers, capital providers, and counterparties across North America. It combines a commodity advisory team with software, data, revenue-cycle services, and a swap execution facility. On July 22, 2026 AEGIS announced a definitive agreement to be acquired by Private Equity at Goldman Sachs Alternatives, with closing expected in the third quarter of 2026 and the existing management team staying in place (press release).

Where the two differ

Software first, not advisory first. BoxWood automates the hedge program itself: confirmations, daily mark-to-market, counterparty reconciliation, settlements, and reporting. A small treasury team runs it without an advisory retainer, and your own advisors and banks plug in through the API, the Excel add-in, or the daily reports.
No execution venue. BoxWood never sits between you and your counterparties. Orders are tracked, and the counterparty is emailed when the level is reached, but the trade is done with your bank.
Independent ownership. ComCurv is founder-owned and founder-funded. No bank, private equity firm, or venture fund holds a stake.
AI-native. Dual-AI confirmation checks, in-house countersigning, and an AI assistant over your own book are standard, not add-ons.
Self-serve. The demo is instant and needs no sales call.

What AEGIS offers that BoxWood does not

A commodity advisory team that can run the program for you.
A swap execution facility.
Revenue-cycle services.

The honest summary: if you want an advisor to run your hedge program, AEGIS is built for that. If you want your own team to run it with software, BoxWood is.

BoxWood vs CTRM and ETRM platforms

A commodity trading and risk management (CTRM) or energy trading and risk management (ETRM) system manages the whole trade lifecycle for a trading organization: physical and financial trade capture, scheduling, logistics, inventory, invoicing, credit, and risk across desks. Most hedgers do not trade physically at that scale. They need the hedge book, the confirmations, the daily mark, and the settlements to be right, every day, with a small team. That is the gap BoxWood fills, and the reason it is not a CTRM.

Platform	What it is	Typical buyer	Where BoxWood differs
BoxWood	Cloud hedge management software for the hedge program: confirmations, daily MTM, reconciliation, settlements, scenarios, reports, API.	Producers, fuel consumers, refiners, and trade houses running a hedge book with a small treasury or finance team.	Purpose-built for hedgers. No physical scheduling or logistics, no execution venue, no implementation project.
AEGIS Hedging	Commodity advisory with software, data, revenue-cycle services, and a swap execution facility.	North American producers and consumers who want an advisor involved in the program.	BoxWood is software first and independent, with no advisory retainer and no execution venue.
Molecule Software	Cloud-native CTRM and ETRM covering the trade lifecycle across power, gas, liquids, metals, and agriculture.	Trading organizations that need physical and financial trade capture in a modern system.	BoxWood covers the hedge program only, for companies that do not trade physically at scale.
Openlink Endur	Enterprise ETRM for front-to-back trading, treasury, and risk on one platform.	Large global trading houses and integrated energy companies.	BoxWood is a self-serve cloud product for a hedge book, not an enterprise trading implementation.
Aspect CTRM	Cloud-based CTRM for trade capture, position, and risk across energy, metals, and agriculture.	Mid-market trading and merchant businesses.	BoxWood is built around confirmations, daily MTM, and settlements for hedgers rather than trade capture for traders.
Allegro Horizon	Enterprise ETRM for energy, utilities, chemicals, and mining supply chains.	Large organizations with physical supply chains to manage.	BoxWood has no supply-chain or logistics scope; it is the hedge program.
Enverus Trading & Risk	Trading and risk software from the energy-data company Enverus.	Mid-market power and gas trading and marketing groups.	BoxWood is for the hedging side of a producer, consumer, or refiner, with a public peer hedge atlas built from SEC filings.

Competitor descriptions are category-level summaries of each vendor's own public positioning as of September 2026. They are not ratings. Verify specifics with each vendor.

Who BoxWood is not for

Companies that need physical scheduling, logistics, or inventory management. That is a CTRM.
Multi-desk trading houses that need a full front-to-back ETRM.
Companies that want an advisor to run the hedge program on their behalf.
Anyone looking for an execution venue. BoxWood tracks orders; it does not execute them.

Frequently asked questions

Is BoxWood a CTRM or ETRM system?: No. BoxWood is commodity hedge management software. It runs the hedge program (trade confirmations, daily mark-to-market, counterparty reconciliation, settlements, scenarios, and reports) for companies whose need is the hedge book rather than physical trading. A CTRM or ETRM adds physical trade capture, scheduling, logistics, and inventory for a trading organization. BoxWood is the lighter-weight alternative for producers, consumers, and refiners who do not run a trading floor.
Is BoxWood an alternative to AEGIS Hedging?: For the software part of a hedge program, yes. AEGIS combines a commodity advisory team, software, data, and a swap execution facility, and in July 2026 agreed to be acquired by Private Equity at Goldman Sachs Alternatives. BoxWood is software first: it automates the confirmations, daily mark-to-market, reconciliation, and settlement workflow so a company runs its own program with its own banks and advisors. BoxWood does not offer an advisory retainer or an execution venue.
Does BoxWood execute trades?: No. BoxWood is not a swap execution facility and never sits between you and your counterparties. Working orders are tracked against the live market, and when an order price is reached the counterparty is emailed automatically so the trade is done with your own bank.
Who owns BoxWood?: BoxWood is built and operated by ComCurv, Inc., a Delaware company founded in 2026 by Morgan Downey, author of Oil 101. It is founder-owned and founder-funded. No bank, exchange, or private equity firm holds a stake.
Is BoxWood funded?: Yes. BoxWood is founder-funded by Morgan Downey through ComCurv, Inc. It has raised no venture capital, so third-party company databases that tag it "unfunded" are recording the absence of an institutional round, not the absence of capital. It has been in production since 2026.
Which commodities and instruments does BoxWood cover?: Natural gas, NGLs (ethane, propane, normal butane, isobutane, natural gasoline), crude oil (WTI and calendar-month-average swaps, Brent), refined products (jet, diesel and gasoil, gasoline and naphtha, fuel oil), and 88 North American natural gas basis hubs. Instruments: swaps, collars, three-way collars, standalone puts and calls, basis swaps, and calendar-month-average swaps.
How long does it take to get started with BoxWood?: A self-serve demo book is live in minutes at boxwoodapp.com/try, with no card and no sales call. A production book is set up with BoxWood against your existing trade confirmations and production forecast. There is no implementation project and nothing to install.
Does BoxWood have an API?: Yes. A REST API with an OpenAPI spec, webhooks, an Excel add-in, Power BI recipes, and a read-only MCP server for AI assistants such as Claude and Cursor. API keys are scoped to your organization and IP-logged, and every response is limited to your own data.
Does BoxWood use my hedge data to train AI models?: No. AI features run with providers configured under zero-data-retention, zero-training terms, and customer hedge data is visible only inside your own organization.
What does BoxWood cost?: BoxWood is a per-customer subscription. Pricing is not published; contact morgan@boxwoodapp.com. The 30-day demo is free.

See it

Open the live demo book (30 days, no card, no sales call) or browse the public Peer Hedge Atlas of SEC-disclosed hedge books. Questions or corrections to this page: morgan@boxwoodapp.com.

AEGIS, Molecule, Openlink, Endur, Aspect, Allegro, and Enverus are trademarks of their respective owners. BoxWood and ComCurv are not affiliated with, endorsed by, or sponsored by any of them. Names are used only to identify the products being compared.