FREQUENTLY ASKED QUESTIONS
How do I join EFETnet?
To enquire about joining EFETnet, please contact the EFETnet Service Team using the details below:
+44 (0) 1372 365760
What services are offered by EFETnet?
The Central Matching Services (CMS) is a central platform offering straight through processing to energy trading market participants including trades, brokers, clearing houses, and trade repositories. The CMS provides a simple interface via a web-based Graphical User Interface (GUI), allowing uses to monitor activity in real-time.
Through the CMS, users can access electronic Confirmation Matching (eCM), electronic eXchange Related Processing (eXRP), and electronic Regulatory Reporting (eRR).
For further information about each service, please visit Products
How do I send data to the CMS?
EFETnet provides a locally installed messaging component. This interfaces with your relevant local software (ETRM system, reporting warehouse, etc.) and provides a secure, guaranteed interface to the CMS.
Where can I find a complete set of Codes for the EFET Standards?
When implementing CMS modules, you may need to refer to a standard set of codes as defined in the EFET Standards. All these codes are listed (and available for download) on the EFET Static Data site
How long does EFETnet keep eCM data in the CMS?
Unless requested by a Licensed User the eCM CMS will retain all Licensed User data while the service remains offered by EFETnet.
What Disaster Recovery do EFETnet have in place?
The CMS is hosted by a top tier hosting partner, recommended by the UK Ministry of Defence, for the level of security they deliver, with a full resilient plan for any DR situation, including a full failover installation at a separate location.
How does CMS eCM process trades?
eCM implements standardised business processes compliant with the EFET eCM Standard that automates the exchange and processing of data between traders and brokers. The EFET eCM Standard is available to download by navigating to 'Products' > 'electronic Confirmation Matching' > 'Links and downloads.
What Legal Documentation must be agreed to connect to CMS eCM?
Organisations joining EFETnet and connecting to CMS eCM must complete the CMS Accession Agreement. Organisations migrating from the legacy EFETnet Peer to Peer eCM solutions to CMS eCM must complete the CMS Addendum.
All Legal documentation is available in Contracts
How long does it take to connect to CMS eCM?
Implementation can vary significantly based on an organisation’s readiness; both in terms of technical set up and business processing. Organisations must first connect to UAT environment for testing and assurance, prior to migrating to CMS Production.
As a minimum we recommend an organisation to plan for 6 weeks for end-to-end implementation.
What products can we confirm through CMS eCM?
The EFET eCM Standard provides a list of products which can be confirmed in CMS eCM. The list can be found in the IndexCommodityType definition in section A.2. of the EFET eCM Standard
Can we see the status of our trade submissions to CMS eCM?
The CMS GUI is accessible to users showing real-time data flow through CMS eCM. Access to the CMS GUI is controlled by our firewall, granting access only to users from recognised IP addresses of licensed users.
I am a Trading Organisation. How much does it cost to use CMS eCM?
The CMS eCM Fee Schedule is available on the EFETnet website
I am a Broker. How much does it cost to use CMS eCM?
The CMS eCM Fee Schedule is available on the EFETnet website
I am a Trading Organisation. Can we confirm trades with counterparties and brokers?
Yes, eCM facilitates confirmation matching bilaterally, either between two counterparties or between a trader and a broker; and trilaterally between two trading organisations and a broker.
Processing for each scenario is described in the EFET eCM Standard
How long does EFETnet keep eCM data in CMS?
Unless requested by a Licensed User, the CMS eCM will retain all Licensed User data while the service remains offered by EFETnet. No eCM data is purged from CMS.
Who is eCM lite for?
eCM lite is an on-line tool aimed at small trading companies without the time or resources to implement full end to end electronic confirmation matching. eCM lite gives your company access to the European electronic confirmation community. With eCM lite your company will comply with regulatory rules for timely confirmation.
How much does it cost to use eCM lite?
eCM lite free of charge, for companies confirming 250 trades or less per month.Above 250 trades eCM lite is €2.99 per transaction report, up to a monthly cap of 10.000,
Which Trade Repositories can I report to via CMS eRR?
eRR is currently connected to DTCC, Regis-TR, and UnaVista for EMIR trade reporting with an interface to ICE TradeVault in progress, plus the DTCC for Dodd-Frank and ODRF reporting. When reporting to ACER under REMIT is live, eRR will support this also.
EFETnet are keen to broaden the reporting scope through eRR and are happy to investigate requests to connect to additional TRs if required. Please contact the EFETnet Support Team for further discussion.
Can we see the status of our trades reported via CMS eRR?
The CMS GUI is accessible to users showing real-time data flow through CMS eRR. Access to the CMS GUI is controlled by our firewall, granting access only to users from recognised IP addresses of licensed users.
eRR supports straight through processing to enable users to integrate real-time status changes to be reflected in internal systems.
How much does it cost to use CMS eRR?
The CMS eRR Fee Schedule is available on the EFETnet website, ‘Appendix 3’
Who is eXPR for?
eXRP provides a universal interface to brokers to connect to clearing services, and vice versa, for the registration of off-exchange cleared and clearable products. eXRP also offers a simple portal for participants (traders, brokers, exchanges) to view and monitor the progress of their cleared deals from execution through to clearing.
How much does it cost to use CMS eXRP?
The CMS eXRP Fee Schedule is available on the EFETnet website, ‘Appendix 2’