30/05/2023 - Zurich, Switzerland - Mercuria, one of the world's largest energy and commodity trading groups, has announced its partnership with Fidectus and is now using its Confirmation Hub. Fidectus' hub approach provides Mercuria with a unified workflow to manage all confirmation formats (including Email, PDF, and EFET eCM) and communication and distribution channels in one place for an automated, faster, and efficient reconciliation process.
Fidectus' Confirmation Hub provides Mercuria with an automated and faster confirmation process for all their counterparties, regardless of whether the counterparty is a Fidectus user, an email and PDF user, or using another eCM provider. With the Fidectus Confirmation Hub, Mercuria benefits from the entire market reach independent of their counterparties' confirmation formats or communication channels. Mercuria can now automatically reconcile all of their confirmations, including those that were not being done electronically previously. This results in a significant reduction of operational risks and errors and an increase in productivity and efficiency for Mercuria's back-office team. The platform frees staff to focus on more value-added tasks by eliminating the need for manual intervention.
"Mercuria is excited to be a participant of the Fidectus platform for electronic Confirmation matching. Mercuria’s business continues to grow, and as such we continually seek to utilize technology platforms that are efficient, controls-based, secure, economical, and scalable. The Fidectus platform fits those needs, and we look forward to working with them on other initiatives that aim to improve how business is done." stated by Dale Neuner, Senior Project Manager.
We are proud to partner with Mercuria, one of the world's leading energy and commodity trading companies," said Jens Bartenschlager, the CEO of Fidectus. "The Fidectus Confirmation Hub is designed to meet the unique needs of the energy and commodity trading industry, and we are thrilled to see the positive impact it is having on our clients. We believe that our partnership with Mercuria is a testament to the strength of our platform and our commitment to delivering innovative solutions that help our clients stay ahead of the curve."
About Mercuria
Founded in 2004, Mercuria Energy Group is a Swiss-based energy and commodity trading company that has emerged as one of the largest privately-held entities in its sector. With operations in over 50 countries and a turnover of $68.4 billion in 2020, the company has established itself as a key player in global trading. Mercuria trades in diverse commodities, including crude oil, natural gas, coal, power, metals, and renewable energy projects.
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 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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media@fidectus.com
Fidectus : Jul 11, 2023 10:00:00 AM
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