The cooperation between Soptim and Equias B.V. simplifies access to back-office trading automation for OTC markets by using new Equias' electronic Back Office interface
Soptim´s newly developed cloud service has implemented eCM (electronic Confirmation Matching) jointly with Wärme Hamburg providing direct connectivity to Equias' services. Thanks to the eCM integration via the new Equias' electronic Back Office (eBO) interface, Soptim's customers and partners will in future be able to use all or part of Equias' process automation and regulatory reporting services for back office obligations and reconciliations. Because of cloudintegration between Soptim and Equias, Soptim users are able to automatically fulfil their counterparty obligations resulting from the trading business. "The confirmation reconciliation is a crucial mechanism to simplify the confirmation process of trading transactions and to reduce the operational risk in the OTC markets", says Christoph Bartz, Product Owner SE: Supply & Trade at Soptim. And further: "The automation and the simple connection to the Equias interface is the basis for continuing to work successfully and cost-effectively even with increasing transaction volumes."
Hugh Brunswick, CEO of Equias, says 'Our aim, achieved together with Soptim through this cooperation, is to give our joint client base readily-available and seamless access to the Equias product suite from the Soptim cloud service. We are proud that together with Soptim we are able to offer the market a faster, easier and cheaper solution to improve trade automation for Soptim clients'.
There is already a first use case: Wärme Hamburg GmbH are live on Soptim's newly cloud enabled system. On xx. September the first successful data exchange between Wärme Hamburg and its trading counterparty took place. "With the new eCM connectivity from Soptim, we can use the state of the art technology of the Equias product suite in a very uncomplicated manner," says Andreas Rinck, energy data and balancing group manager at Wärme Hamburg. "We are also very pleased that Soptim implemented the software as a cloud service." This reduces the number of applications to be managed, as no local installation is required for use.
Soptim and Equias plan to add further back-office functionalities: Soptim customers will also be able to use Equias' electronic regulatory reporting (eRR) and electronic settlement matching (eSM) via the cloud solution interface.
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