What the Counterparty Risk Management Policy Group say...
CRMPG II represents the views of the worlds largest financial institutions and in its publication "Towards Greater Financial Stability: A Private Sector Perspective“, published on 27th of July 2005 it makes the following observations:
"As a matter of urgency, market participants apply additional resources to this task, take part in and strongly encourage the development of electronic trade matching and confirmation generation systems and work together as well as cooperatively with trade associations to identify and implement solutions"
"Electronic trade assistance services promote efficiency and confidence in the markets, and both market participants and trade associations should strongly encourage automation in the processing of OTC transactions."
"Automation, including electronic trade affirmation and matching and straight through processing, is a key risk mitigation device, at least in part because most risk metrics assume the existence of an underlying, undisputed transaction. Automation must be pursued whether or not it presents any short-term economic benefit"
To find out more about the CRMPG II click the link on the right of this page.
EFETnet was developed by energy traders, for energy traders
At the end of 2004, Barclays Capital, Electrabel, EDF Trading, Gaselys, and RWE Trading successfully completed the piloting phase for the fully automated electronic Confirmation Matching (eCM) in accordance to the EFET eCM Standard 3.0. This project is now up and running, and we invite other energy traders to enjoy the benefits such as:
- Lower trading costs
- Less administration
- Less risk of errors
The EFETnet software is fully compliant with the EFET eCM standard version 3.0. The software consist of three main applications:
- Ponton X/P (Messaging Application fully compliant with the ebXML standard and Message Service 2.0. This application has been in productive use since Q4/2000, mainly in the Paper & Print industry. More than 80 large companies world-wide are using Ponton X/P in production, amongst them Fortune 500 companies such as StoraEnso, UPM-Kymmene, International Paper, TimeWarner, News International, Axel Springer Verlag, and Burda)
- EFET Box+ (Workflow Management Application, holds the business logic of the EFET Standard)
- Ponton X/D (Back-end Integration Application, converts XML documents into a database or flat file text format, and vice versa. Used to integrate the ETRM system with the EFETnet Software)
