11/07/2023 - Bern, Switzerland - Energie Wasser Bern (ewb) selects Fidectus' Confirmation Hub for the automated and secure processing of their over-the-counter trade confirmations. Among the underlying key reasons are the unique features of the solution. These include achieving significant efficiency improvements while reducing risks in a unified process with all their energy trading partners.
ewb is an independent public-law energy, water, and telecommunications company owned by the City of Bern. ewb has established itself as a reliable provider of environmentally friendly supply services by utilizing renewable energy sources and efficiently managing water resources.
The ewb company recognized the immense value of Fidectus' Confirmation Hub early on. As part of a restructuring of their energy trading systems, they expect significant benefits from this collaboration. Going forward, trade confirmations will be processed through a unified and automated process via Fidectus Global Energy Network (GEN). The complexity of their own IT architecture and processes will be greatly reduced, enabling significant savings. Only exception cases will require the attention of an employee. And even in such cases, the process will be much faster and less risky.
Christoph Hodel, Senior Trader at ewb, is enthusiastic about the partnership: "Fidectus' Confirmation Hub will take over the manual and repetitive task of verifying, signing and distributing confirmations. The automated process will reconcile every document format and simplify our confirmation process, allowing us to focus on tasks that create more value."
The partnership with Fidectus brings immediate benefits to ewb while also sending a strong message to the market. Fidectus' hubs are now available to municipal utilities and smaller energy suppliers, offering innovative energy trading solutions for the entire post-trade process.
Matthias Raeck, Head of Operation at Fidectus says: "We warmly welcome ewb to our customer family and are very excited about this collaboration. This project is another important step towards the automation of the entire back-office of energy traders. In particular, with regard to REMIT GATE reporting, we are expanding our services for all Swiss energy suppliers."
About Fidectus
Fidectus AG (SA) (Ltd) is revolutionizing post-trade processing for the over-the-counter energy and commodity markets. Our Global Energy Network (GEN) connects market participants and enables them to significantly reduce cost, risk and optimize liquidity through cloud services for regulatory reporting, confirmation, settlement, netting, financing, and payment. Clients can now better manage their working capital. They can reduce their credit risk and improve their operating profitability putting them at a competitive advantage.
For more information about Fidectus and its ecosystem partners, please get in touch with info@fidectus.com or visit www.fidectus.com.
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