Fidectus attracts Europe’s largest energy trader

Founded in 2019 in Zurich, Fidectus is dedicated to solving the problem of electronic settlement matching (eSM) together with and for the European OTC energy trading industry. Settlement in energy trading results in high cost and risk exposure and the current practice puts energy traders at a competitive disadvantage.

Fidectus offers a Plug´n´Play SaaS solution that connects market participants in no time. Backed by cloud and blockchain technology, the platform allows energy traders to manage the high pressures of operational costs, cash limits and risks by automating and accelerating the settlement process in cross-company workflows.

Today, Fidectus is proud to announce RWE Supply & Trading GmbH, one of Europe’s leading energy traders, has chosen the Global Energy Network (GEN) as its platform for eSM. Going Live with the Global Energy Network marks a historic milestone for the energy industry. By removing the last manual process step in the OTC energy deal life cycle the post-trade process is now fully digitized.

“The Fidectus GEN helps us to further automize our post-trade process while laying the foundation for future benefits such as multilateral netting and predictive financial analyses,” says Emma Law, Head of Back Office at RWE Supply & Trading.

Canadian accelerator welcomes Fidectus
Holt Fintech Accelerator is Canada’s only business accelerator focused on exclusively to all Fintech verticals. Due to the present situation, the Holt extensively analysed the current market conditions and identified four key verticals for which Canada’s ecosystem has shown a considerable appetite. Subsequently, the program has adjusted its focus and chose to support startups from other sectors, that is Cybersecurity, Insurtech, proptech and Trade Finance.

From more than 700 applications emanating from 87 countries, the committee has selected eight companies making up the 2020 cohort. One of the companies chosen is the Swiss-based startup Fidectus.

During the 12-week program, the startups will get access to over 300 world-class advisors and experts as well as guidance from industry and tech experts and free coaching and workshops to enhance their solution. Moreover, the teams will have the potential to partner with Holt’s network of Holt Alumni and explore the Canadian community.

(press release/RAN)