“EFETnet have introduced two processes: eXRP and eRR which provide non-discriminatory, open industry standard mechanisms”
Interview with Hugh Brunswick, MD EFETnet, gold sponsor at this year’s EMART Energy. He shares his vision and passion for this industry.
1) As an important industry stakeholder can you share your vision on the European Energy Transition? How do you see the future? How is your company preparing for this? How do you see the future of the traded markets?
We are concerned that mandatory clearing and the overhead of reporting to trade repositories will damage the market driving trading onto proprietary platforms which combine execution with clearing and reporting, reducing choice and competition in provision of execution services. EFETnet have introduced two processes: eXRP and eRR which provide non-discriminatory, open industry standard mechanisms linking execution venues to clearing services and providing similar open access to trade repositories under EMIR and REMIT.
2) What news about exciting products or projects are you bringing to EMART Energy?
New this year are the eXRP and eRR processes. If companies are concerned about introduction of mandatory clearing and regulatory reporting to repositories then they should come and visit the EFETnet stand at EMART where we are demonstrating these processes and keen to meet and talk to people about what we are doing to minimize the impact of regulatory market change on EFET members and the wider market place.
3) Tell us why you are participating in this year's EMART Energy?
We are participating in EMART because it provides a great opportunity to meet and discuss key market issues we are working on with senior decision makers.
4) What is on the calendar for the next year for your company?
The continued enhancement of our existing eCM confirmation matching services whilst we also continue to invest in our new regulatory reporting and clearing registration services.
5) What are your most proud of in terms of your company’s recent achievements?
Our highly successful migration from distributed to centralised service architecture in time to help the market address the general impact of increased centralisation due to regulatory market change.
6) What makes your company successful?
We are successful because as an industry owned entity we have the backing of the trading community whilst remaining innovative and market leading.
7) What do you think are the main challenges currently for energy traders?
To navigate the impact of regulatory market change which threatens to disrupt or indeed destroy some of the market structures that traders currently rely on and take for granted.
8) What will be your message at EMART Energy this year?
Prepare for regulatory market change!