1 min read

Fidectus launches new cloud service for automated eCM

Zürich, 21. June 2022 – Fidectus announces the commercial launch of their automated and cloud-based electronic Confirmation Matching service. For the first time, energy traders are able to manage all their confirmations through one unified process and interface. Standards such as EFET's electronic Confirmation Matching (eCM), various formats such as paper, csv and pdf are supported. A unique feature is the connection to existing eCM networks, allowing Fidectus' customers to continue using alternative matching providers. Energy traders now reach 100% of their counterparties through one unified process.

Fidectus created the new confirmation service at the request of industry members looking to get more value out of the electronic Confirmation Matching (eCM) process. More successful "matches" are achieved on GEN based on eCM. GEN users no longer manually bypass the electronic process in cases that do not match because they now match. The connection can be setup with little configuration effort and integrates into existing eCM workflows. Numerous interfaces to leading ETRM systems such as ION Endur, ION Allegro, ION Triple Point, Soptim, Previse Systems or CTRM Cubed are available. More than half a dozen customers are already implementing or using the new service. Fidectus experiences a high interest for the new service in the market and expects significant growth already in late 2022.

"Using the new service, we can now electronically match with trading partners via Fidectus, even without them having eCM implemented," says Vinzent Schild, Risk Manager at Primeo Energie, explaining the benefit for users. "This makes the daily work of our users immensely easier, as we always use the same interface and get the status of all confirmations back the same way." For the user, it is irrelevant whether the trading partner is registered with Fidectus or not - he can confirm his trade electronically or via email.”

“The Global Energy Network (GEN) is already bringing best practices for post-trade processing to electronic Settlement Matching (eSM), so it is a natural extension for industry members to want the same high quality and standard for eCM. The core principles of easy onboarding, flexibility to work with all existing workflows are foundational to the transformation taking place in confirmations.” says Chris Sass, CRR at Fidectus.

 

See here for press release.

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