CpML to foster standardisation among energy traders
First developed by Efet, CpML is a standardised language for the storage and exchange of commodity data, which could help reduce the industry’s high levels of operational risk. As a new standalone entity takes over the running of CpML, Filip Sleeuwagen, co-chair of its governance board, speaks to Stella Farrington
When it comes to standardisation, the energy trading industry lags behind the rest of the financial world considerably. There is enormous variation around many common industry processes, market participants note, with numerous ways of representing transaction data across the market and even within the same organisation.
The use of multiple energy trading and risk management (ETRM) systems at many firms results in a lack of connectivity between systems and a high level of manual intervention
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