Interoperability in Energy Trading: Open Letter to Energy Traders Europe and Equias

Delivering Interoperability: An Open Letter to Energy Traders Europe and Equias B.V.

Published: 3 March 2026 | Fidectus AG

Today, Fidectus published an Open Letter signed by European energy market participants, addressed to Energy Traders Europe (ETE) and Equias B.V. The letter, titled Delivering Interoperability: Turning Intention into Implementation, calls on both organisations to take concrete, verifiable steps toward full interoperability in European energy post-trade processing.

Why This Letter, and Why Now

The EFET electronic Confirmation Matching (eCM) and electronic Settlement Matching (eSM) standards were designed with a clear principle: that any compliant service provider can exchange standardised messages with any other. This principle is what makes the standards meaningful. Without it, market participants remain locked into single-provider ecosystems - the very problem standardisation was meant to solve.

Over the past years, significant progress has been made. Fidectus and Equias have demonstrated technical interoperability for a subset of EFET message types, and several traders have successfully confirmed transactions across both platforms. These milestones confirm that interoperability is not theoretical - it works.

Yet full interoperability across all EFET eCM and eSM message types has not been achieved. Market participants continue to face limitations when attempting to process the full range of standardised messages across providers. The signatories of this letter believe the time has come to close this gap - transparently and on a defined schedule.

What the Signatories Are Asking For

The open letter contains distinct requests to each organisation:

To Energy Traders Europe, the signatories call for interoperability to become a verifiable condition of EFET compliance - not merely an aspirational goal. Specifically, they request a structured self-certification and interoperability testing framework, and a public registry of certified providers with clear scope and certification dates.

To Equias B.V., the signatories request a documented timeline for achieving full, production-ready interoperability with Fidectus across all EFET eCM and eSM message types. They also call for participation in neutral, trader-sponsored conformance testing and transparent publication of ongoing compliance results.

A Shared Industry Responsibility

This letter is not about one provider versus another. It is about ensuring that the European energy trading community can rely on the standards it has collectively developed and adopted. When interoperability is incomplete, the cost is borne by every market participant who operates across platforms - in duplicated effort, operational risk, and constrained choice.

The standards exist. The technology is proven. Prior milestones demonstrate that interoperability works. What is needed now is implementation, and the willingness to verify it openly.

Fidectus fully supports these goals and remains committed to participating in any neutral testing or certification process. We believe that transparent, verifiable interoperability strengthens the entire market.

Read the Full Letter

The complete Open Letter, including the list of signatories, is available for download here.

We invite Energy Traders Europe and Equias B.V. to confirm their acceptance of the commitments set out in the letter, and we welcome dialogue with all market participants who share the vision of an open, interoperable European energy post-trade infrastructure.

For questions or to express support, please contact Fidectus AG at info@fidectus.com.