KB Tech scores European Commodity Clearing contract
09 May 2017 | 1968 views | 0
Source: European Commodity Clearing
The European Commodity Clearing (ECC) cooperates with KB TECH Ltd. to expand access to cleared commodity markets for trading participants.
KB TECH is a UK based software development company providing data management services and products to the trading, pension and financial markets.
KB TECH has launched a dedicated portal “KB Portal” which allows the entry and submission of brokered trades for trade registration on the European Energy Exchange (EEX) and subsequent clearing with ECC. KB Portal is available for the power, emissions and freight markets, as offered by EEX. In the framework of their Straight-Through-Processing (STP) solution, ECC automates trade registration for its participants at a Partner Exchange and transfers trading transactions into the clearing system without the need for manual intervention.
“We’re very pleased to welcome KB TECH as a new partner to the network of independent service providers who support our Straight-Through Processing (STP) solution”, says Dr Thomas Siegl, Chief Risk Officer of ECC. “With its portal solution, KB TECH will help foster the development of the trade registration volumes of ECC’s Partner Exchanges in the future, thereby enhancing the choice for customers.”
“KB TECH is delighted to be a new STP service provider partner of ECC in their objective of enhancing EEX’s trade registration business”, says David Briggs, Director and co-founder of KB TECH. “The KB Portal represents a key element of our product range in the trading environment and builds on our proven expertise in this area.”
In addition, the KB Portal provides a range of functions including historic trade search, general trade analysis and the inputting of spread trades. Brokers and trading participants will benefit from greater automation, therefore reducing operational risks, efforts, and processing times from off-exchange trade conclusion to clearing confirmation.