Since 2005, more than 60 energy and commoditiy traders in Europe and the US have become clients of EFETnet, which is enabled by Ponton technology such as Ponton X/P and the EFET Box. Among other processes, this enables the automatic matching of trade confirmations. Integration with the trading systems of participating companies can be done via Ponton X/D.
In OTC Trading of commodities (OTC: Over The Counter, as opposed to executing a deal on an exchange) both parties to a deal confirm the deal details to their respective counterparty in order to avoid the risk of misunderstandings or errors. This process of "Confirmation Matching" is traditionally performed via fax at each commodity traders’ back office. Using the EFET Box, this process was completely automated. On each trading day, tens of thousands of transactions are confirmed automatically via electronic Confirmation Matching (eCM). The exchange of trade confirmation is done on a peer-to-peer basis, i.e. directly between the counterparties without a middleman.
The international XML document standard CpML (Commodity products Markup Language) is used for post-deal processes. This standard is based on EFET eCM4.0 formats.
Ponton serves as the central provider of support, maintenance, consulting, integration and development projects for all EFETnet clients.
SMSS - Spot Market Settlement System
Ponton has developed the central transaction system "SMSS" (Spot Market Settlement System) for the Clearing House ECC (European Commodity Clearing). This systems delivers a variety of processes for the trading of commodities at the EEX and other exchanges, including financial and physical settlement.