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electronic Confirmation Matching

Introduction:
Connecting to eCM is a key priority for any trading or brokerage firm wishing to enter the European energy market.

eCM uses Equias’ award-winning CMS infrastructure, which provides automated confirmation matching for Europe’s over-the-counter (OTC) internal energy market. It is currently used by over 150 trading and brokerage companies across the European wholesale energy market. 

Who is it for?

  • The Wholesale Trading Back Office.
  • OTC Trading Venues (e.g. Organised Trading Facilities [OTFs] and other platforms that arrange OTC trades electronically).
  • Companies wishing to automate confirmation of intra-company transactions.

Features:
eCM provides immediate on-line back-office reconciliation to most wholesale energy market participants and organised market places where European energy is traded. 

Benefits:

For the Wholesale Trading Back Office:

  • You can mitigate your operational risks by accurately and speedily reconciling each trade with your counterparty and/or broker.
  • You can join an on-line confirmation matching community with over 150 trading organisations and brokers.
  • You can avoid human error in your confirmation process.
  • You can ensure that your confirmation process scales seamlessly with your transaction volumes.
  • As a large volume user, you benefit from a monthly fee cap; as a small volume user, you benefit  from free access to up to 250 confirmations per month, using Equias’ manual eCM lite service. 

For OTC Trading Venues:

  • We provide your back office with the reconciliation required by your clients.
  • You benefit from a capped fee scheme that scales up with volume as your business grows.
  • You can confirm brokerage fees on a per-trade basis, speeding up invoice settlement. 

Product description:
Confirmation matching is a crucial mechanism for operational risk mitigation in OTC markets and it is a legal requirement that is stipulated in master trading agreements under which OTC trades are transacted. Manual confirmation matching, which can create a huge operational overhead, is increasingly ineffectual for risk mitigation as transaction volumes grow. This is why all successful OTC markets adopt automation of the confirmation process at an early stage in their development. 

eCM is implemented by the European Federation of Energy Traders (EFET). To review the eCM Standard process specification go to the EFET website.