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For clarification of the project for the EFET (European Federation of Energy Traders) it is important to distinguish the following 3 terms:

EFET is a federation consisting of the major European Energy Traders which defines standards for energy trading

EFET net is a B2B integration project based on EFET standards

EFET Box is a software product based on the Ponton X technology implementing the EFET standards

The EFET Box
The EFET Box is used by European Energy Traders to exchange and match trade confirmations. The requirements for this were:

  • Security and Reliability of communications (provided by using Ponton X/P technology)
  • End-to-End-Integration between the trading-systems of traders and brokers
  • Implementation of the eCM (electronic Confirmation Matching) standards
  • Flexible integration with back-end interfaces of different trading systems. Ponton X/D is used for that purpose

Just as Ponton X/P, the EFET Box can be used on all operating systems and with all database systems so that an industry-wide feasibility is provided. The following is a screenshot of the web-based user interface of the EFET Box visualizing the information flow between traders and brokers:

Zoom (34KB)

Additional features of the EFET Box

Since 2004 the EFET Box has been continuously improved to meet the increasing needs of customers and the EFETnet standard.

Important aspects from the perspective of an Energy Trader's Back-Office:

  • Automation for the bilateral matching of trade confirmations for the following products: electricity, gas, CO2 certificates
  • Support for the following trade types: trades with and without broker, physical deals or physical options, peak, off-peak or custom load types
  • Broker integration with verification of the brokerage fee
  • Drastic reduction of manual effort (up to 70%) for trade confirmations
  • Decrease of trading risks by automating manual cross-check processes
  • Using Straight-Through-Processing trades are matched over the internet within seconds and the trading system receives feedback about the matching status
  • Audit-trail information to ensure availability of complete communication history¶
  • Comprehensive information about the matching status of all trades
  • "Near-Match-Finder" provides search-support for suitable trades when automatic matching failed
  • Direct "Peer-To-Peer" exchange without necessity for hubs or portals. Therefore higher security and no transaction-based cost or portal-provider fees
  • Data export to Excel or PDF

Cockpit View of the EFET Box - direct access to the important information:

Zoom (141KB)

As an IT professional I'd be interested in:

  • Fast and easy back-end integration via hot-folder, web-service or database adapter (Ponton X/D) due to flexible interfaces
  • Maximum security and reliability based on ebXML (Ponton X/P functionality) as the communications protocol
  • Easy installation: The software can be installed and configured within 30 minutes
  • E-mail notifications can be configured for error messages, warnings and other events such as time-outs for trade confirmations, mismatches etc.)
  • Single-sign-on (SSO) using LDAP
  • Fast integration with new trading partners due to the usage of Ponton X/P technology - across firewalls and certificate-based for secure data exchange
  • Sophisticated data extraction using Ponton X/D
Test Drive

Would you like to see the EFET Box in action and test it? Please click here.

New

Ponton EFET Box 3.2a now available as a Trialversion!

Info

For further Information regarding the EFET Box please contact us via email: products@ponton-consulting.de or telephone +49 40 69 213 340

For detailed information and documentation on the EFET Box please click here.

"It has reduced operational risk at RWE Trading"
EFETnet was implemented at RWE Trading in Summer 2004 and so far, all of our expectations have been fulfilled – the new process is fast, secure, and drastically reduces our manual effort. From RWE’s perspective, these cost savings are nice, but our real benefit will come through the reduction of operational risk. A single manual error leading to a mis-matched trade not recognized until delivery can lead to a significant commercial loss. By fully automating the process, and by taking out manual intervention, we are greatly minimizing this risk.

Malte Möller
Head of Back Office, Essen
RWE TRADING

"Using EFETnet drastically upgrades the quality of Back Office services"
For us at Electrabel, the EFETnet implementation is a major step in optimising our Back Office processes. This enables us to provide better services to our clients, the Traders, which is what a Back Office is all about. At the same time, we can reduce the operational risk by excluding manual errors and finding trade mismatches much faster than in the old manual process. Thus we will achieve a better service quality, while at the same time reducing cost by a factor of 10. If we just count the trades with those 10 of our counter parties, who are already committed to EFETnet, we are already talking around 60% of our trading volume which is fully automated in the Back Office. This alone justifies the initial investment, and the ROI picture will become even brighter once more of our counter parties join.

Filip Sleeuwagen
Head of Back Office
ELECTRABEL TRADING

"EFETnet is set to automate trading at EDF"
At EDF Trading I am responsible for the in-house development and support of a fully integrated real-time front to back office multi-commodity energy trading and risk management systems incorporating leading edge technologies. After testing EFETnet, we soon realised it was a perfect tool for our trading floor. The traders can now spend more time doing thier job, and less time with paperwork.

Saeed Patel
EDF TRADING, London
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