enmacc Adopts Equias eCM (electronic Confirmation Matching) – Digitalising Energy Sales2/11/2019
The way in which energy is supplied in European energy markets is changing. Electronic sales channels are digitalising and transforming the way energy businesses and their end-customers interact.
enmacc’s enmarket and entender services are used by a growing community of over 185 companies active in the European energy sales market to transact increasing volumes of energy. More than 700 traders from 11 countries are already active on the enmacc platform.
Digitalisation is causing energy to be bought and sold in smaller volumes, at shorter tenors and with greater frequency, moving towards active hedging and optimisation more characteristic of wholesale trading.
enmacc and Equias are working together to bring the benefits of eCM to their combined client bases, to mitigate operational risk and ensure the quality of data required by all participants to operate cost effectively and efficiently as transaction volumes through enmacc’s services grow.
Equias eCM service is the Gold Standard for confirmation matching in the European energy wholesale market. Used by over 160 wholesale traders and brokers, processing thousands of transactions per hour.
Hugh Brunswick (CEO of Equias): “This benefits the combined enmacc and Equias clients base as it brings operational risk reduction and data quality improvements essential to the growth of this segment of the EU energy market”.
Jens Hartmann (CEO of enmacc): “With integrating the Equias services on enmacc, we consequently follow our path in enabling our customers to have a better overall trading process. For the suppliers already using eCM for wholesale trading, it means that they can benefit from automatic confirmation matching for every trade, done with their customer base on enmacc. This gives them an additional competitive advantage due to an even safer and efficient post trade process“
Equias and enmacc will inform all customers about the new confirmation process in the upcoming weeks and hold customer workshops on how they can easily adopt the secure and efficient post-trade eCM process without any IT effort on their side. The service will go live will be in spring 2019.
Summarising the benefits:
• Fully digital reconciliation mitigates operational risk
• Straight-Through-Processing (STP) reduces manual work allowing staff to focus on exceptions
• Real time view of trade status on enmacc deal history
• Certainty that transactions are registered with the energy suppliers.
• Shared view of exceptions for swift resolution
• Integration with Equias electronic Trade Services (eTS)