Energy Traders Europe

{{Infobox organization | name = Energy Traders Europe | logo_caption = Logo (until 2024) | abbreviation = EFET | formation = {{Start date and years ago|df=yes|1999||}} | logo = EFET_Logo.PNG | type = Trade association | status = | purpose = to promote and facilitate European energy trading in open, transparent and liquid wholesale markets | location = Amsterdam, Netherlands | region_served = Europe | fields = Wholesale energy trading | membership = 170 | num_members_year = 2025 | language = | leader_title = Board Chair | leader_name = Giusi Squicciarini | leader_title2 = CEO | leader_name2 = Mark Copley | leader_title3 = | leader_name3 = | leader_title4 = | leader_name4 = | main_organ = | parent_organization = | affiliations = | budget = | website = [https://www.energytraderseurope.org/ energytraderseurope.org] | remarks = }}

'''Energy Traders Europe''' or '''EFET''' (formerly the '''European Federation of Energy Traders''') is a trade association of European energy traders in markets for wholesale electricity and gas. EFET advocates policies and regulatory measures which allow electricity and gas trading to develop freely while encouraging good risk management practices and responsible corporate governance. In its role as a standard setting body, EFET aims to provide standard solutions to common aspects of wholesale energy transactions, such as contracting and data exchange.<ref>[http://www.efet.org/AboutUs/EFET-Statement-of-Activities EFET Statement of Activities] {{Webarchive|url=https://web.archive.org/web/20140924041754/http://www.efet.org/AboutUs/EFET-Statement-of-Activities |date=2014-09-24 }}, on the EFET Website (Retrieved in September 2014)</ref>

EFET depends on the cooperation of grid operators, regulators, brokers, exchanges, and other relevant actors. Therefore, EFET maintains frequent contact and exchange with the European Commission, ACER, ENTSO-E, etc., and similar bodies at national/regional level. On national/regional level, EFET cooperates with other trading associations such as TOE for the Polish market<ref name=":0" /> or Energy Traders Deutschland for the German market.

== History == EFET was founded in 1999 in response to the liberalisation of electricity and gas markets within the European Union. As of 2024, the year of EFET's 25th anniversary, the association operates under the new name of Energy Traders Europe and has a new logo.<ref>{{Cite news |author-link=European Federation of Energy Traders |date=25 January 2024 |title=Energy Traders Europe, 25 years in the making. |url=https://www.linkedin.com/pulse/energy-traders-europe-25-years-making-a8hle/ |url-status= |access-date=19 June 2025 |work=TalkingTraders - A snapshot of the life of European Energy Traders}}</ref><ref>{{Cite web |date=26 January 2024 |title=Efet changes its name to Energy Traders Europe |url=https://www.energate-messenger.com/news/240576/efet-changes-its-name-to-energy-traders-europe |url-status=live |access-date=9 February 2026 |website=energate messenger english edition}}</ref>

== Organisational structure ==

=== Market design, policy and regulation === EFET has three main committees dedicated to Electricity, Gas, and Market Regulation to conduct its advocacy work. The committees are supported by working groups that focus on specific/national/regional market design, policy, or regulatory issues. The committees and working groups identify barriers to energy trading across Europe and develop proposals for their effective removal, with the goal to foster efficient, harmonised, transparent, and liquid wholesale energy markets throughout the continent.<ref name=":0" />

=== Contractual and transactional standardisation === The EFET Legal and Operations Committees and their working groups develop standardised solutions for recurring aspects of wholesale energy transactions. Their work delivers widely recognized and reliable contractual frameworks for physically settled wholesale energy trades, and establishes standardised data formats, content structures, and communication protocols to enable automated processing of lifecycle events in both cleared and OTC transactions.<ref name=":0" />

== Contractual standards == EFET has published standard contracts for physically settled energy wholesale transactions, which are available in many languages, and which are claimed to have had substantial influence on legal OTC-standards in the liberalised energy markets in Europe and beyond:<ref name=":0">{{Cite web |author-link=European Federation of Energy Traders |date=2012 |title=Towards a single European energy market |url=http://www.efet.org/Cms_Data/Contents/EFET/Folders/Documents/Home/~contents/GPC2TV6X8L2STWT8/Highlights-II-Final.pdf |url-status=dead |archive-url=https://web.archive.org/web/20131102115252/http://www.efet.org/Cms_Data/Contents/EFET/Folders/Documents/Home/~contents/GPC2TV6X8L2STWT8/Highlights-II-Final.pdf |archive-date=2 November 2013 |access-date=20 June 2025 |website=European Federation of Energy Traders}}</ref>

* General Agreement Concerning the Delivery and Acceptance of Electricity * General Agreement Concerning the Delivery and Acceptance of Natural Gas * Credit Support Annex (CSA) * Master Netting Agreements (MNA) * Carbon Emission Allowances Appendices * Individual Contracts for Biomass or Gas Capacity * Standard documentation to trade various Renewable Certificates

EFET's standard contracts adopt the document architecture of ISDA Master Agreements, consisting of a master agreement (General Agreement), a schedule (Election Sheet), confirmations (evidencing single transactions), and credit support documentation (CSA), plus possible further appendices.

== Data standards == EFET's data standards facilitate the integration of internal and external business processes, with the goal to enable straight-through processing. Applying the standards is promised to enhance process efficiencies, reduce operational risks as well as transactional costs.<ref name=":0" /><ref name=":7">{{Cite web |author-link=European Federation of Energy Traders |date=24 July 2024 |title=eCM – Electronic Confirmation Matching Version 4 - Release 4 (v4.5) |url=https://cms.energytraderseurope.org/storage/uploads/media/240724-efet-ecm-v-45.docx |access-date= |website=European Federation of Energy Traders}}</ref><ref>{{Citation |last1=González |first1=José M. |title=Market Communication |date=2013 |work=Standardization in Smart Grids: Introduction to IT-Related Methodologies, Architectures and Standards |pages=211–228 |editor-last=Uslar |editor-first=Mathias |url=https://doi.org/10.1007/978-3-642-34916-4_13 |access-date=2025-07-05 |place=Berlin, Heidelberg |publisher=Springer |language=en |doi=10.1007/978-3-642-34916-4_13 |isbn=978-3-642-34916-4 |last2=Specht |first2=Michael |editor2-last=Specht |editor2-first=Michael |editor3-last=Dänekas |editor3-first=Christian |editor4-last=Trefke |editor4-first=Jörn|url-access=subscription }}</ref>

EFET's data standards are designed, maintained and released as open standards<ref name=":8">{{Cite web |author-link=European Federation of Energy Traders |date=11 February 2014 |title=eRR, the new EFETnet service to support regulatory reporting needs is live! |url=https://pr.euractiv.com/pr/err-new-efetnet-service-support-regulatory-reporting-needs-live-103963 |access-date= |website=euractiv.com}}</ref> with the intention to ensure interoperability.<ref name=":7" />

=== Data standards (listed in release order) ===

* electronic Confirmation Matching (eCM) for the exchange and validation of electronic trade confirmations, October 2002<ref name=":3">{{Cite web |author-link=European Federation of Energy Traders |date=8 October 2002 |title=Electronic Confirmation Matching Standards |url=http://www.efet.org/Default.asp?Menu=6 |url-status=dead |archive-url=https://web.archive.org/web/20090331152518/http://www.efet.org/Default.asp?Menu=6 |archive-date=31 March 2009 |access-date= |website=European Federation of Energy Traders}}</ref> * electronic Position Matching (ePM), for the exchange and comparison of nomination data, Juni 2008<ref>{{Cite web |author-link=European Federation of Energy Traders |date=23 June 2008 |title=Electronic Position Matching Standards |url=http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/ePM-electronic-Position-Matching |url-status=dead |archive-url=https://web.archive.org/web/20121108105910/http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/ePM-electronic-Position-Matching |archive-date=8 November 2012 |website=European Federation of Energy Traders}}</ref> * eCredit Matrix Standard for the exchange of counterparty credit limits with brokers, July 2009<ref name=":5">{{Cite web |author-link=European Federation of Energy Traders |date=20 July 2009 |title=eCredit Matrix Standard |url=http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/eCredit-Matrix |url-status=dead |archive-url=https://web.archive.org/web/20121108105905/http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/eCredit-Matrix |archive-date=8 November 2012 |access-date= |website=European Federation of Energy Traders}}</ref> * Communications Standard for authenticated, confidential, unalterable, and undeniable message exchange, September 2010<ref name=":2">{{Cite web |author-link=European Federation of Energy Traders |date=1 September 2010 |title=Communications Standard |url=http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/Communications-Standard/Current-Versions |url-status=dead |archive-url=https://web.archive.org/web/20121108105809/http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/Communications-Standard/Current-Versions |archive-date=8 November 2012 |access-date= |website=European Federation of Energy Traders}}</ref> * Commodity product Markup Language (CpML) as a vocabulary for exchanging standardized messages for commodity trading and reporting processes, April 2012<ref>{{Cite web |author-link=European Federation of Energy Traders |date=31 March 2012 |title=CPML - Commodity Product Market Language Standards |url=http://www.efet.org/Standardisation/CPML-Commodity-Product-Market-Language |url-status=dead |archive-url=https://web.archive.org/web/20121108105749/http://www.efet.org/Standardisation/CPML-Commodity-Product-Market-Language |archive-date=8 November 2012 |access-date=}}</ref> (released as version 4,<ref name=":1">{{Cite web |author-link=European Federation of Energy Traders |date=30 September 2024 |title=Commodity product markup language Version 6 Release 6 (v6.6.3) |url=https://cms.energytraderseurope.org/storage/uploads/media/240930-efet-cpml-v663.docx |access-date= |website=European Federation of Energy Traders}}</ref> spun off from the work on eCM and eXRP standards<ref>{{Cite web |author-link=European Federation of Energy Traders |date=7 February 2013 |title=New EFETnet service to support regulatory reporting needs: the eRR Pilot project |url=https://pr.euractiv.com/pr/new-efetnet-service-support-regulatory-reporting-needs-err-pilot-project-93096 |access-date= |website=euractiv.com}}</ref>), CpML was governed by the CpML Foundation from 2013 (version 5.0) until 2023 (version 6.5) * electronic eXchange Related Processes (eXRP) for the registration of off-exchange clearable products, September 2012<ref name=":6">{{Cite web |date= |title=EFETnet history |url=http://www.efetnet.org/About/EFETnet-history |url-status=dead |archive-url=https://web.archive.org/web/20170610113537/http://www.efetnet.org/About/EFETnet-history |archive-date=10 June 2017 |access-date= |website=EFETnet}}</ref><ref>{{Cite web |author-link=European Federation of Energy Traders |date=31 August 2012 |title=Four exchanges and four brokers 'go-live' with new EFETnet electronic clearing registration services |url=https://pr.euractiv.com/pr/four-exchanges-and-four-brokers-go-live-new-efetnet-electronic-clearing-registration-services |access-date= |website=euractiv.com}}</ref> * electronic Portfolio Reconciliation (ePR) for the reconciliation of portfolios under EMIR, March 2014<ref>{{Cite web |author-link=European Federation of Energy Traders |date=24 March 2014 |title=Portfolio Reconciliation Standards |url=http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/Portfolio-Reconciliation/Standards |url-status=dead |archive-url=https://web.archive.org/web/20170509171229/http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/Portfolio-Reconciliation/Standards |archive-date=9 May 2017 |website=European Federation of Energy Traders}}</ref><ref>{{Cite web |author-link=European Federation of Energy Traders |date=1 April 2014 |title=electronic Portfolio Reconciliation (ePR) the new EFETnet service to support regulatory reporting needs is live! |url=https://pr.euractiv.com/pr/electronic-portfolio-reconciliation-epr-new-efetnet-service-support-regulatory-reporting-needs |access-date= |website=euractiv.com}}</ref> * electronic Regulatory Reporting (eRR) for reporting new trades and lifecycle events to regulatory databases, March 2015<ref name=":4">{{Cite web |author-link=European Federation of Energy Traders |date=6 March 2015 |title=Electronic Regulatory Reporting Standards |url=http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/eRRelectronicRegulatoryReporting/Standards |url-status=dead |archive-url=https://web.archive.org/web/20170511002904/http://www.efet.org/Standardisation/IT-And-Electronic-DataExchange-Standards/eRRelectronicRegulatoryReporting/Standards |archive-date=11 May 2017 |access-date= |website=European Federation of Energy Traders}}</ref> * electronic Settlement Matching (eSM) for the exchange and comparison of settlement data and invoices, February 2019<ref name=":02">{{Cite web |author-link=European Federation of Energy Traders |date=17 April 2019 |title=eSM - electronic Settlement Matching |url=https://efet.org/home/documents?id=51 |url-status=dead |archive-url=https://web.archive.org/web/20240229210722/https://efet.org/home/documents?id=51 |archive-date=29 February 2024 |access-date= |website=European Federation of Energy Traders}}</ref>

Maintenance of the ePM, eXRP, and ePR standards is suspended due to lack of market adoption (in 2025).

=== EFETnet ===  EFETnet was set up in 2003<ref name=":62">{{Cite web |date= |title=EFETnet history |url=http://www.efetnet.org/About/EFETnet-history |url-status=dead |archive-url=https://web.archive.org/web/20170610113537/http://www.efetnet.org/About/EFETnet-history |archive-date=10 June 2017 |access-date= |website=EFETnet}}</ref> as a cost sharing vehicle of EFET's member companies and turned into a subsidiary organisation in 2005<ref name=":0" /> with the objective to realise and operate EFET’s data exchange and processing standards.<ref>{{Cite web |title=EFETnet Story |url=http://www.efetnet.org/efetnet/content/e10/e15/index_en.html |url-status=dead |archive-url=https://web.archive.org/web/20070310052139/http://www.efetnet.org/efetnet/content/e10/e15/index_en.html |archive-date=10 March 2007 |website=EFETnet}}</ref> In this role, EFETnet supported the development and maintenance of EFET's data standards and operated the central matching hub for electronic confirmation matching.

In 2011, EFETnet together with DTCC were selected by ISDA to build a global trade repository for commodity over-the-counter derivatives trade types with the objective to fulfil current and future regulations.<ref>{{Cite web |author-link=International Swaps and Derivatives Association |date=14 June 2011 |title=ISDA Announces Commodity Derivatives Trade Repository Selection |url=https://www.isda.org/a/9mDDE/commodityrepositoryselection.pdf |access-date= |website=ISDA}}</ref> The ''Global Trade Repository for Commodities'' went live in January 2012<ref>{{Cite web |author-link=Depository Trust & Clearing Corporation |date=23 January 2012 |title=Global Trade Repository for Commodities and Operating Procedures |url=https://www.dtcc.com/-/media/Files/pdf/2012/1/23/GTRfC1.pdf |access-date= |website=DTCC}}</ref> and received first trades in April 2012.<ref>{{Cite web |last= |date=19 April 2012 |title=DTCC and EFET.net Receive First Trades for OTC Commodity Swaps Repository |url=https://www.globalcustodian.com/dtcc-and-efet-net-receive-first-trades-for-otc-commodity-swaps-repository/ |website=globalcustodian.com}}</ref><ref>{{Cite web |date=19 April 2012 |title=DTCC, EFETnet launch global trade repository for commodities derivatives |url=https://www.hedgeweek.com/dtcc-efetnet-launch-global-trade-repository-commodities-derivatives/ |website=hedgeweek.com}}</ref> It was later integrated with other repositories of DTCC<ref>{{Cite web |author-link=Depository Trust & Clearing Corporation |date=9 October 2012 |title=Withdrawal of Application for SDR registration on behalf of Global Trade Repository for Commodities (U.S.) LLC |url=https://www.cftc.gov/sites/default/files/stellent/groups/public/@otherif/documents/ifdocs/globaltradesdrwithdraw100912.pdf |website=U.S. Commodity Futures Trading Commission}}</ref> to report under Dodd-Frank.<ref>{{Cite web |author-link=Commodity Futures Trading Commission |date=19 September 2012 |title=Swap Data Repositories (SDR) : 22609 |url=https://www.cftc.gov/IndustryOversight/IndustryFilings/DataRepositories/22609 |access-date=5 July 2025 |website=U.S. Commodity Futures Trading Commission}}</ref><ref>{{Cite web |last= |date=24 September 2012 |title=CFTC Approves DTCC'S Swap Data Repository |url=https://finadium.com/cftc-approves-dtccs-swap-data-repository/ |website=finadium.com}}</ref> In 2014, EFETnet launched its regulatory reporting service under EMIR, providing a standard interface to DTCC, REGIS-TR and UnaVista trade repositories.<ref name=":82">{{Cite web |author-link=European Federation of Energy Traders |date=11 February 2014 |title=eRR, the new EFETnet service to support regulatory reporting needs is live! |url=https://pr.euractiv.com/pr/err-new-efetnet-service-support-regulatory-reporting-needs-live-103963 |access-date= |website=euractiv.com}}</ref> In 2015, EFETnet was amongst the first fully approved Registered Reporting Mechanisms (RRM) under REMIT.<ref>{{Cite web |last=Aviv |date=24 July 2015 |title=ACER publishes first list of approved RRMs and updated schemas |url=https://energytradingregulation.com/2015/07/24/acer-publishes-first-list-of-approved-rrms-and-updated-schemas/ |website=energytradingregulation.com}}</ref><ref>{{Cite web |date=4 September 2013 |title=Registered Reporting Mechanism (RRM) |url=https://www.emissions-euets.com/registered-reporting-mechanism-rrm |access-date=5 July 2025 |website=Emissions-EUETS.com}}</ref>

In 2017, EFET has divested its ownership in EFETnet to the subsidiary’s managing director.<ref>{{Cite web |date=5 December 2017 |title=Energy association EFET divests EFETnet to its managing director |url=https://www.consultancy.eu/news/84/energy-association-efet-divests-efetnet-to-its-managing-director |access-date= |website=consultancy.eu}}</ref>

== Members == As of January 2014, EFET had a total of 126 member companies, of which 37 were associate members.<ref>[http://www.efet.org/AboutUs/Member-Companies EFET Member companies] {{Webarchive|url=https://web.archive.org/web/20140217153330/http://www.efet.org/AboutUs/Member-Companies |date=2014-02-17 }} on the EFET website</ref>

{| class="wikitable sortable" ! ISO country code ! Country ! Members (Regular and Associate) |- | AT | Austria || KELAG|KELAG, E & T Energie, EconGas, Tiwag, Verbund Trading |- | BE | Belgium || GDF Suez Electrabel |- | BG | Bulgaria || NEK EAD |- | HR | Croatia || HEP Trade |- | CZ | Czech Republic || B.E.K. Group, MND, CEZ, Lumius, Vemex |- | DK | Denmark || Neas Energy, Danske Commodities, DONG |- | FI | Finland || Fortum, RAO Nordic |- | FR | France || EDF Trading, Société Générale, Engie Global Markets |- | DE | Germany || Bayerngas Energy Trading, Deutsche Bank, E.ON Energy Trading, EnBW, MVV Trading, RheinEnergie, RWE Supply & Trading, Stadtwerke München, [http://www.syneco.net Syneco Trading], Trailstone, Trianel, VNG, Wingas, aet, Commerzbank, Currenta, Dong Energy Markets, EWE Trading, Gas-Union, Securing Energy for Europe, Gelsenwasser, GETEC, Mark-E, Stadtwerke Hannover, Stadtwerke Leipzig |- | GR | Greece || Aegean Power, DEPA, Public Power Corporation |- | HU | Hungary || MOL Energy Trade, MVM Trade |- | IT | Italy || Acquirente Unico, TEI Energy, A2A Trading, Edison, Enel Energy Europe, Enel Trade, ENI, ENOI, Europe Energy, GALA Energia, Gas Plus Italiana, Hera Trading, Sorgenia, YouTrade Gruppo Innowatio |- | LU | Luxembourg || Enovos Luxembourg |- | NL | Netherlands || Delta, Eneco, GasTerra |- | NO | Norway || Statkraft Energi |- | PL | Poland || PGE, PGNiG, Tauron Polska Energia |- | PT | Portugal || EDP Energía, Galp Gás Natural |- | RO | Romania || SNGN Romgaz, Energy Holding |- | RS | Serbia || EPS, Rudnap group |- | SK | Slovak Republic || Slovenske Elektrarne |- | SI | Slovenia || Elektro Energija, GEN-I, HSE |- | ES | Spain || Endesa, Energya VM, Gas Natural Fenosa, Iberdrola |- | SE | Sweden || Vattenfall |- | CH | Switzerland || Alpiq, Axpo, Azienda Elettrica Ticinese, BKW FMB, Cargill International, CKW, DufEnergy Trading, Gunvor International, Mercuria Energy Trading, Novatek, NValue, Repower, SET Swiss Energy Trading, Vitol |- | GB | United Kingdom || Barclays Capital, BP, BG International, BNP Paribas, Centrica, Citigroup, ConocoPhillips, Credit Suisse, Drax Power, DTEK Power Trade, EFT Group, ExxonMobil, Freepoint Commodities Europe, Gazprom, Goldman Sachs, Koch Energy Europe, Macquarie Bank, Merrill Lynch, Morgan Stanley, Noble Clean Fuels, Petronas Energy Trading, Shell Energy Trading, Statoil, Total |}

== External links == * [http://www.efet.org/ EFET website] * [http://www.efetnet.org/ EFETnet website] {{Webarchive|url=https://web.archive.org/web/20140223161243/http://www.efetnet.org/ |date=2014-02-23 }}

== References == {{Reflist|1}}

Category:Electric power in Europe Category:Energy in the European Union Category:International energy organizations Category:Commodities traders Category:European trade associations Category:Energy law Category:1999 establishments in Europe Category:Organizations established in 1999 Category:Pan-European energy organisations

Energy Traders Europe

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