eCM
What value should you use for the field "Contract Capacity"?
The EFET eCM Standard states that the 'Contract capacity' field is Mandatory for all trades submitted with section TIME INTERVAL QUANTITIES (1-N). The 'Contract Capacity' is "the contract capacity of the commodity that has been negotiated". The field ...
Why might a trade be set to 'Failed' status in CMS eCM?
A trade is set to a 'Failed' state in CMS when there is a problem processing the trade document. When this happens, a Rejection document is issued by CMS and the document exchange process is terminated. A 'Failed' trade document can be amended to ...
Notification Agent and BSC Party ID
Notification Agent is the party responsible for notifying the transaction to the Energy Contract Volume Aggregation Agent (ECVAA). This section must be present if and only if the value of field "Commodity" is equal to "Power" and the market has been ...
What do the eCM statuses “Error”, “Failed”, “Receiving” & “Matching” mean?
* Error – Documents which have experienced an issue in the matching process. * Failed – When a document has been received outside of the normal process, which does not comply with the eCM Standards (e.g. submitting 2 documents with the same version ...
Should Total Contract Value be represented in pence or pounds for UK Gas trade confirmations?
The eCM Standards state in the Currency field: "With boolean Attribute “UseFractionUnit” to indicate that “Pence” is used instead of “GBP”. This attribute becomes mandatory when issuing CNF documents for the networks that utilize pence. (i.e. UK NBP ...
Should I use a Z or Y EIC code for Delivery Points when matching in eCM?
eCM is not limited or affected by ACER’s Valid EIC code list. For instance counterparties can confirm for delivery locations outside the EU which ACER would see as invalid. Furthermore ACER prefer Y codes whereas, especially in gas, counterparties ...
Is there a definitive list of commodities that can be trades on the CMS?
eCM > Settings shows a list of all products that can be used in trade on the CMS. In addition, the EFET static data contains information on Commodity reference Codes energy traders europe (efet.org)
How can Broker Restrictions be imposed?
Broker restrictions can be uploaded within the eCM->Settings tab under ‘Broker Restrictions’. An XML formatted document must be used, an example of which can be provided by the CMS Service Team. Please note that if broker restrictions are imposed ...
How do we match Broker only Trade Confirmations?
Broker only is triggered if: -The Counterparty (ReceiverID) is unknown to the Messenger, the CP is then not eCM enabled. Or -Receiver ID in the CNF is set to the Broker (i.e. BRSPT) and the receiver role is set to “Broker”.
Can you explain the use of Currency "UseFractionUnit"
It states in the eCM standards - "With boolean Attribute 'USEFRACTIONUNIT' to indicate that 'Pence' is used instead of 'GBP' So, if set to "true' prices should be stated according to the smaller currency denominator. Using your examples: If the price ...
Can I reinstate a terminated trade?
Terminated deals can be reinstated by sending an amendment to the trade (using a higher version number) in the same way a normal amendment is sent. The confirmation will be amended to return the 'Terminated' state to 'Pending', from which the ...
Is Total Contract Value a matching field?
On 16 June 2014 Equias asked the eCM community for feedback regarding issues in matching the 'Total Contract Value' field. It was decided by democratic vote that it will be removed from the matching criteria and set to an information ONLY field The ...
Why has my amendment been rejected?
Trades can only be amended if in state “Pending”, “Error”, “Failed” or “Preliminary matched”. Trades can also be amended from “Cancelled” or “Matched” if version 4 functionalities are enabled and the fundamental details of the trade have not been ...
Is it necessary to have an ECA in place between traders and brokers?
This is not relevant for Brokers as the ECA is an addendum to the Master Trading Agreement between counterparties which specifies that a confirmation should be issued by FAX. Since we use an electronic format the trader/trader agreement under which ...
In the eCM standards and elsewhere what does the symbols '< >' mean?
'< >' means not equal to.
How are EIC codes set up?
All organisations must have an EIC code if they are to be referenced on electronic confirmation documents. This is regardless of whether that organisation is planning to electronically match. Once a request for a new EIC code is received, the ...
Which Broker should be used - MTF and Non-MTF?
As a result of the go-live of EMIR reporting in February 2014, traders and brokers were required to differentiate the execution platform of a trade between the MTF and non-MTF functions of a broker. All brokers now have both a non-MTF and a MTF ...
Can I amend a cancelled trade?
The trading organisation must enable “amend cancelled” in eCM -> Settings. They can then send a amendment to the cancelled trade confirmation, returning it to 'Pending' in CMS from which it can match. For more information please refer to the CMS User ...
What is a Document ID and how should we create it?
Please refer to the eCM Standard located on the homepage of the Users Area, "6.1 Naming and Typing Conventions": 6.1.2 - Document IDs Often, documents are listed in reporting tools, as XSL stylesheets, etc. To provide a common syntax that is ...
What are the rules around rounding values? Are they restricted to two decimals places?
The EFET Standards do not specify to what decimal place counterparties must match, however, counterparties are required to agree to what decimal place they will use on each trade. The EFET Standards do provide an explanation as to the rounding ...
Which trade states allow cancellation?
You can only cancel from state ‘Pending’ and ‘Preliminary Matched’. If your trade is in 'Error' or 'Failed', you will need to submit and amendment before submitting a cancellation document (for more information refer to the eCM Standards V4.4 High ...
Is the 'Order Number' a mandatory field in all XML trade confirmations?
The eCM Standards 4.4 state: Order Number Conditional If ‘TransactionType’ is a ‘Financial Transaction’, or “PHYS_INX” or “OPT_PHYS_INX” then this field: a) is Mandatory and Key if the deal has an Order Number otherwise b) must be omitted This means, ...
Are LNG and NGL are the same thing and are they interchangeable on CMS?
Natural Gas Liquids and Liquefied Natural Gas are different and not interchangeable. LNG is not a term used in the eCM Standard. LNG would be Nat_Gas as it is just the liquefied form. NGL is a group name for liquids that can be produced from Nat Gas, ...
Is it possible to amend the 'Broker ID' field in a trade confirmation submitted to CMS for eCM?
It is not possible to amend the 'Broker ID' field in a trade confirmation which has previously been submitted to CMS for eCM naming another Broker. In order to amend the Broker ID of an eCM submission you must Manually Terminate the incorrectly ...
How do we populate field 'EnergyAccountType' for GB Power Trades submitted to CMS?
The eCM Standard suggests that field 'EnergyAccountType' is a mandatory field for all GB Power trades, and can be determined using 'Definitions within the Balancing & Settlement Code for the UK electricity market'. Field 'EnergyAccountType' should be ...
Help us to define what value we could input in the field TradeConfirmation/CapacityUnit
In summary MWh/h = MW, so the CpML UoM for MWhperHour is simply MW. For the CapacityUnit should be “MW” if the rate is hourly for an hourly energy volume. For daily rate for an hourly volume the UoM “MWhperDay” should be used. If you use “MW” in your ...
How do you remove an 'RM_Pending' leg of a matched trade
You send a standard cancellation (CAN file) for the trade, it will cancel the RM_Pending of the deal without cancelling the Matched deal.