Zurich/New York - 05 October 2021: Fidectus, a leading post-trade service provider in OTC commodity markets, and ION Commodities, the largest global provider of commodity trading and risk management solutions, today announce they have entered a strategic partnership.
ION’s next generation energy trading and risk management (ETRM) solutions coupled with Fidectus’ Global Energy Network (GEN) now drive increased value from trade capture through confirmation, settlement, brokerage, and payment for both physical and financial commodities. Fidectus’ GEN seamlessly connects with ION’s trusted ETRM portfolio, including Openlink, Allegro, and TriplePoint, to automate end-to-end processes, reducing operational cost and risk for ION’s leading customer community. The innovative solution allows you to resolve disputes faster, mitigate your credit risk, and optimize your payments schedule.
Trades captured in ION’s ETRMs seamlessly straight through process to Fidectus’ GEN, a cloud service that already supports the latest European Federation of Energy Traders (EFET) standards for electronic confirmation matching (eCM), settlement matching (eSM), and regulatory reporting. Energy firms can now benefit from a unified next generation platform across their company and to their counterparties for the entire trade lifecycle.
“By combining the market leading capabilities of ION’s commodity management solutions and Fidectus’ GEN on a single platform, our customers will immediately benefit from an automated back office, further digitalizing their post-trade activity, while delivering material cost savings and operational efficiencies.” said ION Corporates CEO Richard Grossi.
Dr. Jens Bartenschlager, Fidectus CEO said „The partnership with ION Commodities revolutionizes OTC energy and commodity trading. Our joint solution answers the markets´ demand for close to real-time OTC trade lifecycles.”
Sunil Biswas, ION Commodities Chief Product Officer noted “The Fidectus partnership continues ION’s commitment to bring the latest innovations to our customer community. ION´s robust enterprise-ready and open modular architecture connects the ION Commodities community to Fidectus´ industry-leading technology, enhancing the value of our ecosystem.”
With a network of over 1,200 energy and commodity customers ION Commodities and Fidectus provide traders and brokers with real-time reporting for enhanced decision support to increase profitability, reduce risk, and free-up trading limits.