The Global Energy Network was created to close the last gap in the OTC post-trade lifecycle.
Creation of Fidectus
"It is November 12, 2015, dark and cold outside. I am meeting Markus, one of my clients.
We share multi-million successes in energy. After a nice dinner (and a delicious dessert), our conversation comes to a discussion of how the industry faces gaps in the cross-company post-trade process.
The problem is: brokers and energy traders experience up to 10x higher costs than investment banks as well as have 20-51 days of extended credit risk exposure and billions in illiquid capital. But why?"
- Dr. Jens Bartenschlager
The industry gap
Imagine exchanging thousands of invoices for complex trading products with hundreds of your counterparties every month.
Imagine this being PDFs, spreadsheets, and paper by fax and email, and you need to reconcile before the payments occur.
Well some disappear, some are not paid, some are wrong and disputed, but most importantly — it just takes very long.
The industry knows the issue for almost 20 years. But making money from high margins and reverse charges stopped them from addressing it.
Well, times have changed.
Creating Fidectus closed the gap
"Having another dessert, Markus and I have an idea of how we can solve the problem, creating new ways for traders and brokers to optimize their working capital.
We will connect energy traders and brokers, so they send data directly to only one platform. It will automatically do the augmentation and reconciliation for them cross-company.
We become a unifying hub of their processes and unlock things they could not do before.
We started our journey.
We want commercially live in April 2020."
Fidectus' solution improves your performance
Working with the industry for over 5 years, Fidectus has built a user-centric, interoperable, and secure OTC post-trading solution.
For the first time, it is possible to completely dispose of paper, PDF, email, media discontinuities, and infrastructure.
It is possible to rely on a single source of data, an immutable audit trail, and massive scalability. Matching is lean, quick, efficient, and enables optimized margins.