EFET develops and maintains a number of standards that enable customers in the commodity trading industry to use a common application and interface for exchanging transaction data. The standards are based on a common XML vocabulary, the Commodity Product Markup Language (CpML). The CpML schemas are accompanied by a specification that provides details on the schemas and determines business rules that govern the usage of the fields defined by the schemas.
The CpML vocabulary is used in multiple processes related to the exchange of transaction data, either for matching the transaction data from the buyer to the transaction data from the seller (electronic confirmation matching) or for reporting transaction data to the relevant authorities, for example, under the EMIR and REMIT regulations in the EU.
Each process has its own specification that describes how input messages in CpML format are processed. In the reporting use case, the input messages are also mapped to another output format, as required by the applicable regulatory authority.
As technical writers, we maintain and update the specifications for the CpML standard and the various process specifications. We work closely with the project manager and the software developers to document the relevant business and mapping rules, and describe the processes from start to finish.
- European Market Infrastructure Regulation
- Verordnung (EU) Nr. 1227/2011 über die Integrität und Transparenz des Energiegroßhandelsmarkts (REMIT)
About EFET - European Federation of Energy Traders
EFET is an association of European energy traders in markets for wholesale electricity and gas. EFET was founded in 1999 in response to the liberalization of electricity and gas markets within the European Union.