Fidectus offers cloud solutions for confirmations, regulatory reporting, and settlement processes. It enables energy traders of all sizes to digitise and automate post-trade processing. The investment makes enmacc the largest shareholder of Fidectus, which continues to operate as a separate company.
While electronic Confirmation Matching (eCM) is well adopted by Europe’s largest energy traders, helping them reconcile trades among each other efficiently, smaller traders and procurement teams are not yet part of this network. The partnership between enmacc and Fidectus will make eCM available to everyone, going well beyond alternative solutions to include:
- All media (electronic, email, and EFET’s eCM)
- All market participants (from large to small)
- All energy commodities (gas, LNG, power, EUAs, GoOs, etc.)
Combining both companies’ solutions will allow energy traders to seamlessly manage all their trades, from execution, confirmation, and regulatory reporting to settlement. enmacc’s trade data will serve as the single source of truth to assure accuracy and timely availability of information throughout the post-trade processes. It reduces manual work, errors, and consequently cost.
Jens Hartmann, CEO at enmacc, says: “This is a big step towards our vision of end-to-end digital OTC trading. We continue to reduce costs and risks along the trading lifecycle which will create more liquidity in the energy markets. The Fidectus team has developed an unmatched solution tackling today’s challenges in the OTC back office.”
Based in Munich, enmacc is Europe’s largest market venue for OTC trading of energy and environmental commodities. Their digital market venue includes power, gas, Guarantees of Origin, Renewable Energy Guarantees of Origin, emissions allowances and weather derivatives. enmacc is trusted by over 2000 traders from over 560 member companies, including large utilities, industrials, energy majors, trading houses, financial institutions, and municipal suppliers.
Dr. Jens Bartenschlager, CEO at Fidectus, says: “We’re excited to bring our comprehensive post-trade solutions to Europe’s largest network of energy traders. Together, we’ll make OTC post-trade solutions accessible to all energy traders.”
The companies already introduced the first integration of their platforms, delivering seamless data flows between systems. In line with Energy Traders Europe's standard terminology, the 'Broker Confirmation' service is being introduced, with enmacc providing real-time trade data directly to the Fidectus post-trade hub via an API. By using enmacc’s trade data as the single source of truth, users can expect greater accuracy and efficiency across the entire trade lifecycle, from execution to settlement.
(Press release / SK)