News & Press releases

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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.

For details please contact us.

Zürich, March 11, 2020 – The European Federation of Energy Traders (EFET) asked for feedback and updated the CpML schema for eSM. A powerful tool in the decision process was feedback received from interested traders and the real world experience gained from the Fidectus pilot group. The Fidectus pilot group leveraged a working knowledge gain over the past year validating the industry’s first commercial platform. “The industry has started to take seriously the points our pilot customers called out last year. We value the community's input and will continue to make our recommendations transparent to the workgroup and community at large.“ said Dr. Jens Bartenschlager, CEO of Fidectus.

With the publication of version 2.0.3. of the eSM CpML schema, EFET implements the findings of Fidectus’ pilot group customers. The update ensures a leaner schema structure and more efficient processing with reduced strain on platform capacities and less potential for errors.   

For details please contact us .

Zürich, November 14, 2019 -  History milestone passed. Last week a number of trading organizations performed electronic settlement for OTC trades at Fidectus AG in Zurich Switzerland. For the first time, leading energy traders logged into their Global Energy Network accounts with real-world invoices and purchase orders to perform settlement with actual counterparties. The first electronic matches and bilateral nettings were produced within minutes. 

Participants included Fidectus' Pilot member companies as well as industry members at large. With electronic settlement validated industry members are focused on implementation details. Fidectus wants to thank all the companies who participated in this historic event. 

If your organization missed out on this historic event and has an interest in electronic settlement, please be sure to join our next real-world hands on session. For details contact  us.