Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, today announced the first phase of Complete, its post-trade services solutions.
Trayport Complete is designed to reduce the operational costs and delays associated with trading energy commodities. The Complete suite of real-time solutions will provide market participants with transparency and control over their post-trade activity. With Complete, users will be able to accurately manage and monitor their post-trade workflows across the 160+ markets accessible through Trayport's platform immediately following the trade.
Complete will be seamlessly integrated with existing Trayport products and will enable users to:
• Clear - Users can see the status of trades in real-time across all clearing houses and counterparties on the Trayport network through one screen. Complete Clear is live and available for CME ClearPort, LCH, MEFF, NOS and SGX. Connectivity to European Commodity Clearing AG (ECC) and OMIClear will be announced in the coming weeks.
• Confirm - Users will be able to confirm standardised terms of a trade immediately post execution with up to 400 counterparties and 17 brokers on the Trayport network. Complete Confirm will enable users to define their own confirmation processes and workflows to meet their internal requirements. This will improve efficiency, optimise workflows and reduce operational risk and the processing costs associated with energy trading.
• Report - Users will be able to report as close to real time as they choose to European regulatory authorities and trade repositories. Complete Report will be designed to satisfy REMIT and EMIR regulatory reporting obligations at the point of execution. Further reporting obligations and jurisdictions will be added in the future.
• Control - With Complete Control, users will be able to manage post-trade execution with transparency and control. The real-time monitoring application will allow all counterparties to the trade to track the progress of their trade and immediately identify and resolve any questionable trades at the point of execution, significantly reducing operating risk and cost.
Dan Smith, Head of Market Development at Trayport, said, "We are committed to helping the transparency and smooth operation of the energy markets. In particular this includes helping our clients reduce operational costs and meet regulatory obligations. The development of Complete will give users the confidence that they are prepared for the evolution of the wholesale European energy markets." He added, "A seamless and harmonised post-trade process is a key objective for our clients. When you can execute, clear, confirm and report through one user interface you ensure that overall workflows are optimised. We are confident that Complete will enrich our clients post trade processes. The addition of further Clearing and Trade Repository participants to our network in the coming months will further enhance the Trayport Complete offering."