Zürich, April 28, 2020 – First market mover Fidectus makes electronic Settlement Matching (eSM) a reality on the Global Energy Network (GEN). Leading European OTC energy trading market participants have moved from pilot to commercial use in April 2020. They are taking competitive advantage of an open network with best user experience and reducing working capital costs at the same time. Initiating eSM on GEN launched a future-proof technology lifecycle. It is providing new and innovative tools for improving energy trader’s financial performance.
Part of GEN’s magic lays in the simplicity and flexibility provided to market participants. The barriers to using GEN are extremely low by design. Considerable effort went into ensuring an agnostic approach of connecting to the platform. Support for just about every type of connectivity and data format allows participants to integrate without the added cost of middleware or integration adapters. Integration options are complimented by optical character recognition (OCR), enabling even the smallest and most restricted market players to experience the future of electronic settlement today. No matter how a market player chooses to interface with GEN, they are safe in the knowledge that GEN is a standards-based and interoperable platform committed to all our customer’s success.
This month’s launch of eSM on GEN includes market participants of all sizes. Going live with one of Europe’s largest energy trader as well as mid-size and smaller traders validates the platform’s support for diverse requirements. The commercial launch provides any market participant the opportunity to kick the tires and use eSM with zero risk.