Read the latest EFETnet news.

2007/10/19

New Process Goes Live
The new Electronic Position Matching (ePM) process is currently in Site Acceptance Testing (SAT) with 5 leading energy traders and goes live this month. The EFETnet Software has been completely redeveloped to host multiple EFET process modules including: the Electroinic Confirmation Matching (eCM) module, the Electronic Position Matching (ePM) module and future modules such as Electronic Settlement (and Invoice) Matching which is currently being defined. The new ePM module is being implemented by 4 other trading companies creating a community of 9 users for ePM. Meanwhile eCM is being upgraded v.3.3 which includes confirmation of a wide range of vanilla and more exotic financial products and options.

2007/09/28

London Energy Brokers (LEBA) Go Live with eCM
The leading London Energy Brokers: GFI Group, ICAP, Spectron, Tullett-Prebon are all live with Electronic Confirmation Matching (eCM), with TFS planning to implement by end of 2007. This is a major benefit as eCM automatically matches broker confiramtions with trader confirmations to a achieve a 3-way match, mitigating risk and increasing efficiency and scalability for traders and broker organisations. Furthermore this establishes an excellent basis for on going collaboration between the trader and broker community leading to future savings and new innovative services.

2006/10/25

EFETnet presents new EFET Box release on EMART, Essen
EFETnet presents the new release of EFET Box 3.2a on EMART in Berlin on October 25th/26th. Today, 22 international energy traders support the EFET Box with a monthly throughput of over 50,000 trades. Following the latest EFET eCM 3.2 standard for electronic confirmation matching, Ponton Consulting on behalf of EFETnet B.V. has developed the EFET Box 3.2a with enhanced control functions for the confirmation matching process. This release also allows for confirming CO₂ certificates, in addition to power and gas. Further, it has a number of new features that ease daily back office procedures of the trading organisations.
EMART

2006/05/10

EFET Box 3.2 released, Cologne, 10.-12. May 2006
The latest version 3.2 of the EFET Box was released for production use by EFETnet members in connection with Carbon Expo on May 10th. EFET Box 3.2 is capable to confirm EUA confirmations next to power and gas confirmations. Please contact EFETnet or Ponton Consulting for further download information.

2006/01/06

EFETnet at E-World, Essen, Feb. 14-16
EFETnet will be present in hall 3 at stand 512. At the stand there will be a demonstration of the new Emissions Confirmation functionality implemented in line with the latest version 3.2 of the EFET eCM standards. In addition to the latest software, information will be available on other process areas to which EFETnet are intending to provide functional solutions on behalf of all energy market participants.

2005/12/09

Vattenfall select EFETnet software
Lena Hovland of Vattenfall Europe Trading today announced that after an extensive evaluation of the alternative products available for electronic confirmation matching that Vattenfall have selected the EFETnet software and support service. Vattenfall are now preparing to implement the EFETnet software in 2006.

2005/11/30

Sempra GO LIVE on v 3.1!
Today 30th November Sempra Energy Europe Ltd announced that they have gone live with electronic confirmation matching using the latest software version. Their first live match was with RWE Trading. Sempra are now progressively going live with other counterparties including Electrabel, Total Gas & Power and Gaselys over the coming days. With this announcement Sempra confirm themselves as the first live counterparty using the V3.1 compliant EFETbox which incorporates the Broker Matching dialogue. V3.1 is fully backwardly compatible with V3.0.

2005/10/17

V3.1 released - including broker confirmation matching
Version 3.1 of the EFETnet Software, which includes the broker dialogue, has passed Site Acceptance Testing (SAT) and is officially available. Three organisations: Spectron Group, Electrabel and RWE Trading have been testing the software for over 8 weeks following intensive Factory Acceptance Testing (FAT) by Ponton Consulting. These organisations will now switch to parallel running the new software with the intention of going live before the end of the year.

2005/10/17

EFETnet at EMART, Nice, 9-10th Nov 2005
EFETnet will be at EMART in Nice from the 9th-10th November. There will be a booth in the Exhibition hall, staffed with technical and business representatives able to answer your questions.
EFETnet at EMART

2005/10/17

5 new members join EFETnet bring total support to 13 organisations
Five (5) new organisations, including our first Broker, Spectron Group, have joined EFETnet, a total of 9 companies are now signed up: Barclays Capital, Gaselys, Electrabel, Merrill Lynch, RWE Trading, Sempra Energy Trading Europe, Spectron Group, Shell Energy Trading Ltd, Total Gas and Power Ltd. An additional 4 organisations are already founder members: EdF Trading, Endesa, Eneco, Essent bringing the total number of companies supporting EFETnet to 13.

2005/09/12

Testing Forum Kicks Off, London
As more organisations prepare to test with EFETnet and to go live the focus is turning to the 'on-boarding' process. Fourteen companies, including our first Broker - Spectron - met together in London at the premises of Sempra Energy Europe this week to discuss issues fundemental to successful testing and go live within a community of users. Key issues resolved related to interpretations of the EFET eCM Standards versions 3.0 and 3.1 which includes the broker dialogue, as well as networking and technical best practice. Finally a structured testing approach was discussed which included the use of a defined set of standard tests. The testing approach is now with the group for further comment, it will be reviewed at the next meeting towards the end of October 2005. Anyone interested in joining the next meeting should contact us via the website mailform.

2005/08/03

Gaselys goes live, Paris
Gaselys when live with version 3.0 compliant version of the EFETnet software today. Gaselys are looking forward to automating their back office processes with all their major trading counterparties over the coming months.

2005/06/28

Electrabel and RWE Trading Live, Essen / Brussels
As of June 28th, RWE Trading and Electrabel switched of their fax machines to carry out their eCM process in a purely electronic form. As the next party, Gaselys joins on July 8th.

2005/06/20

EFETnet Contracts Released
The EFETnet Contracts for New Users joining EFETnet have been released today in conjunction with the Electronic Confirmation Agreement, which supplements the EFET Master Agreements. Taken together, these documents spell out how the legal, commercial and liability framework for EFETnet users functions. The documents are available at the download section of the EFETnet.org site.
Download Section of EFETnet.org

2005/06/01

EFETnet at Budapest Energy Trading CEE
An update on the EFETnet project was given to the EFET General Meeting at the Budapest Energy Trading for Central and Eastern Europe event, in May 2005
http://www.energytradingcee.com

2005/03/15

EFETnet at E-World
Today the fifth "E world energy & water" opens with over 350 exhibitors and EFETnet will also be there, demonstating its new electronic confirmation matching software on Stand 3-575 in Hall 3.
The top meeting place for the European energy and water industries, over 10,000 visitors are expected. Not only the global players but also the large number of specialised service-providers will once again make use of the international sectoral meeting place encompassing different subjects. The participants will include RWE and E.ON, Endesa, Gaz de France, Gazprom and Vattenfall. The "Energy Technology" section will be strengthened within E-world. In addition to many others, the market leaders Siemens AG and Babcock Hitachi Europe GmbH have already promised to take part in the fair.

2005/02/01

EDF Trading joins EFETnet
EDF Trading (EDFT), the london-based trading subsidiary of Electricité de France, formed in 1999, today announced it is to start trading with EFETnet software. EDF Trading is one of Europe's leading energy trading companies, and, in 2003, recorded a turnover of €12.4 billion (U.S.$16 billion). Its strategy going forward is to increase activity and results, as well as develop a multicommodity trading platform and establish itself in new markets.
Electricité de France, EDF Trading's parent company, is one of the world's leading electrical utilities with an installed capacity of 102,000 Megawatts (MW) in France, as well as significant investments across Europe and the rest of the world.
EDF Trading, rated A3 by Moody's, is widely recognised as a leading energy trading organisation in Europe and one of the foremost energy traders in the world. EDF Trading is truly pan-European in all of its core markets—power, gas, and coal—trading with more than 270 counterparts, and executing some 8,000 transactions across the continent each month.