Equias
Equias is a private Dutch financial infrastructure company providing cloud-based post-trade automation services — confirmation matching, regulatory reporting, settlement, and transaction surveillance — for the European OTC energy market, serving 850+ energy traders, brokers, and marketplaces.
- Company typePrivate
- Founded2003
- HeadquartersGuildford, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Equias does
Equias (formerly EFETnet, rebranded 2018) is a privately held Dutch financial infrastructure company founded in 2003 that provides post-trade automation services for the European OTC energy market. Its Central Matching Services (CMS) cloud platform underpins a suite of integrated services: eCM (electronic Confirmation Matching) reconciles bilateral trades across 20+ criteria and is used by 400+ trading entities; eRR (electronic Regulatory Reporting) operates as the largest independent ACER-authorized Registered Reporting Mechanism, handling over 90% of brokered European energy market regulatory reporting across REMIT, REMIT II, EMIR, MiFID II, and ElCom; eSM (electronic Settlement Matching) automates invoice reconciliation; and eTM2 (electronic Trade Monitoring) provides REMIT II-aligned transaction surveillance. Services are delivered via direct enterprise sales and through the eBO ecosystem, which bundles eCM, eRR, and eSM into a single connection via ten ETRM implementation partners.
Equias monetizes through subscription and SaaS fees across its service portfolio, with a freemium eCM lite tier (up to 250 matches/month) and a free one-month eTM2 trial designed to convert smaller traders. The customer base spans 850+ energy trading firms, brokers, clearing houses, organized marketplaces, and trade repositories across Europe, including Uniper, Ørsted, Endesa, EWE Trading, and ČEZ. The company reports 80% of the OTC energy market uses its services and 50% of OTC gas and electricity traders rely on eCM. Equias is pursuing regulatory-driven expansion via eTM2 and the upcoming eBM bilateral margining service, supported by 45+ organized marketplace integrations, ISO 27001:2022 certification, and an EU representation service (REMITREP) for non-EU market participants.
Operationally, Equias is founder-led (CEO Hugh Brunswick since 2003, COO Liam Dunne since 2011) and bootstrapped — no funding rounds, parent entity, or institutional investors are disclosed. The company maintains dual legal entities (Equias B.V. in Amsterdam, Equias Ltd. in Leatherhead, UK) to serve both EU and UK markets post-Brexit. With 11–50 employees, the firm leverages its network effects, ACER regulatory authorization, and proprietary Premium Market Dataset to defend a dominant market position in European OTC energy post-trade infrastructure.
Equias firmographics
Firmographics- Name
- Equias
- Legal name
- Equias B.V.
- Website
- https://equias.org
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Equias is a private Dutch financial infrastructure company providing cloud-based post-trade automation services — confirmation matching, regulatory reporting, settlement, and transaction surveillance — for the European OTC energy market, serving 850+ energy traders, brokers, and marketplaces.
- Ownership category
- akta.pro rank
Where Equias is headquartered
LocationHeadquarters
- HQ city
- Guildford
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Equias business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- eCM (electronic Confirmation Matching): Subscription or licensing fees for access to the eCM platform. Used by over 400 trading entities across the European OTC energy market. Also available as eCM lite, a free manual version for lower-volume traders.
- eRR (electronic Regulatory Reporting): Subscription fees for regulatory reporting services. Equias is the largest independent RRM handling over 90% of brokered European energy market regulatory reporting. ACER fees are distributed to market participants under the ACER Fees Regulation.
- eSM (electronic Settlement Matching): Subscription fees for automated settlement matching services. Positions firms for compliance with EU VAT in the Digital Age e-invoicing mandates rolling out across Europe 2026-2028.
- eTM2 (electronic Trade Monitoring): Subscription/SaaS fees for transaction surveillance platform optimised for REMIT II compliance. Offered with a free trial (1 month) with onboarding typically completed within days.
- eBO (electronic Back Office): Bundled subscription fees for combined eCM, eRR, and eSM services delivered via ETRM integration. Provides a cost-effective single connection solution through trusted IT implementation partners.
- REMITREP (EU Representation): EU representation services under REMIT II Article 9 for Market Participants not resident in the EU, offered through the REMITREP service (www.remitrep.eu).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | eCM lite — free tier for low-volume traders |
| Subscription | Annual | eSM — savings potential of up to €535,000 annually for large organisations |
| Subscription | Monthly | eTM2 — free 1-month trial with quick onboarding |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
Equias product offering
Product offeringCore offering
Equias provides post-trade automation services for the European OTC energy market via its cloud-based Central Matching Services (CMS) platform. Its offering spans the entire trading lifecycle with eCM for automated trade confirmation matching, eRR for regulatory reporting (REMIT, EMIR, MiFID II, ElCom), eSM for settlement and invoice matching, and eTM2 for REMIT II transaction surveillance. Equias operates the largest independent Registered Reporting Mechanism (RRM) authorised by ACER, handling over 90% of brokered European energy market regulatory reporting.
Product overview
Equias provides a suite of post-trade automation services for the European energy market, built around its Central Matching Services (CMS) cloud platform. The core portfolio consists of six integrated services: eCM (electronic Confirmation Matching) for trade confirmation, oCM (outbound Confirmation Matching) for non-standard trade flows, eRR (electronic Regulatory Reporting) for reporting to regulators, eSM (electronic Settlement Matching) for invoice reconciliation, and eTM2 (electronic Trade Monitoring 2) for market surveillance. These services are offered individually or bundled through the eBO (electronic Back Office) platform, which integrates with participants' ETRM software via a network of implementation partners. Equias operates as the largest independent Registered Reporting Mechanism (RRM) authorized by ACER under REMIT, facilitating over 90% of brokered European energy market regulatory reporting. The company also maintains a proprietary market dataset (Equias Premium Data Set) that enriches trade data for surveillance purposes. A new bilateral margining service (eBM) is in development.
Differentiator
Problem solved
Functional benefit
Products and services
- eCM (electronic Confirmation Matching)
- oCM (outbound Confirmation Matching)
Quantifiable outcome
- Up to 90% reduction in time spent correcting incoming invoices (ČEZ, a.s. testimonial)
- +6 more outcomes
Companies that use Equias
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
Equias technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
Feature9 records
Equias partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered core and minor.
- CTRM CubedcoreCTRM Cubed specialises in innovative software for Energy and Commodity Trading and Risk Management (E/CTRM). They are a trusted implementation partner delivering eBO connectivity by integrating Equias services (eCM, eRR, eSM) via clients' ETRM software.
- ETRMServicescoreA global team of experts specialising in energy trading and risk management solutions. ETRMServices delivers eBO implementation and integration services for Equias clients.
- Energy OnecoreEnergy One is a global supplier of energy trading software products and operational services. They serve as an eBO integration partner enabling Equias services connectivity.
- DigiNergyDigiNergy provides end-to-end energy trading solutions including REMIT/EMIR compliance and real-time market analytics. They deliver eBO integration for Equias services.
- NTT DATAcoreNTT DATA has a leading position in EMEA with over 100 resources experienced in global ETRM projects. They deliver eBO integration and implementation services for Equias.
- KWA AnalyticscoreKWA Analytics provides seamless, scalable integration from Endur to eBO, with expertise in successful C/ETRM, TMS implementations, and digital transformation projects.
- LeadconsultcoreSpecialised in providing business and IT consulting services in the energy and financial sectors, as well as in software development and IT outsourcing. Deliver eBO integration services for Equias.
- OrchestradecoreA modern state-of-the-art cloud native platform that enhances all aspects of energy and environmental trading and risk management. Serves as an eBO integration partner for Equias.
- Previse SystemscoreA highly performant SaaS ETRM software solution for European electricity, natural gas, and certificates trading. Deliver eBO integration services for Equias.
- SoptimcoreSoptim designs, delivers, and operates software that efficiently supports the energy industry in its various market roles, using state-of-the-art technologies and cloud solutions. Deliver eBO integration for Equias.
- KompliominorA one-stop compliance platform that structures regulatory complexity for energy market participants. Komplio offers a 10% discount on REMIT and EMIR licence fees for Equias customers. Equias clients receive preferential access to Komplio's compliance services.
- Correggio ConsultingminorAn international energy consultancy with 20 years of experience providing advisory services in regulatory compliance, energy market access, OTC contractual negotiations, risk management, and sustainability-related frameworks. Listed as a REMIT2 compliance partner for Equias.
- REMITREP Services BVcoreProvides legal representation for non-EU energy trading companies, ensuring compliance with EU REMIT regulations through expert support and direct regulatory liaison. Equias refers non-EU clients to REMITREP for EU representation under REMIT II Article 9.
- CorreggioNETminorA regtech platform supporting energy market participants both for market entry and ongoing compliance across European and international power, gas, and sustainability markets. Listed as a REMIT2 compliance partner for Equias.
- ETR AdvisoryminorA regulatory consultancy providing specialist guidance to the energy and commodity trading sector on EMIR, REMIT, MiFID II, MAR and related regulations. Their blog (energytradingregulation.com) keeps the market up to date on important regulatory matters. Listed as a REMIT2 compliance partner for Equias.
- Energy Traders Europe (ETE)coreETE (formerly EFET — European Federation of Energy Traders) is the industry trade association that originally co-created the eCM standard with Equias (then EFETnet) in the early 2000s. ETE's 20-year mission to bring rigour to the bilateral European energy market was implemented through EFETnet/Equias with electronic confirmation, reporting, and settlement standards. ETE remains a key industry body for standards alignment.
- Agency for the Cooperation of Energy Regulators (ACER)coreACER is the EU agency that authorises and supervises Registered Reporting Mechanisms (RRMs) under REMIT and REMIT II. Equias operates the largest independent RRM authorised by ACER, reporting over 90% of brokered European energy market regulatory reporting. ACER sets the regulatory framework that Equias's services enable clients to comply with.
- LEBA (LEBA — Lloyd's Energy Brokers Association)coreEquias and LEBA co-created a REMIT II FAQ page to prepare market participants for new regulatory obligations. LEBA is a key industry association for standards development and regulatory alignment in European energy trading.
- Equias Ltd. (UK Entity)coreEquias Ltd. is the UK-based entity of the Equias group, providing services to the UK market post-Brexit. Located at Riverbridge House, Leatherhead, Surrey. The UK entity works alongside Equias B.V. (Netherlands) to serve both EU and UK energy markets.
Scale indicators12 records
Recent moves7 records
Expansion highlights6 records
Equias competitors and assessment
Company assessmentBroad incumbents
- DTCC: Operates major post-trade infrastructure for securities (clearing, settlement, and trade reporting through DTCC GTR). DTCC is a broader incumbent with comparable roles in central matching, trade reporting, and regulatory data services across multiple asset classes.
- ION Group: Parent of Openlink, Allegro, and other ETRM/CTRM platforms that are core to Equias's eBO integration ecosystem (e.g., KWA Analytics, Orchestrade). ION is both a critical channel partner and a potential competitor, as its ETRM stack could theoretically bundle native confirmation and reporting.
- Intercontinental Exchange (ICE): Global exchange operator and infrastructure provider offering energy futures markets, ICE Trade Vault regulatory reporting, and market data feeds used by Equias eTM2. ICE is a broader incumbent with overlapping capabilities in trade reporting and surveillance for energy and commodities.
- LSEG (London Stock Exchange Group): Operates trading venues (including CurveGlobal and Turquoise), post-trade infrastructure, and UnaVista-adjacent reporting services through its Data & Analytics division. LSEG is a broader incumbent with comparable regulatory reporting, market data, and trading infrastructure capabilities relevant to European energy and commodities.
- Euroclear: International central securities depository providing settlement and related post-trade services across European markets. Euroclear is a broader incumbent with overlapping infrastructure roles in matching, settlement, and cross-border asset servicing.
- Clearstream (Deutsche Börse): Post-trade infrastructure provider for securities including clearing, settlement, and reporting services. Clearstream is a broader incumbent with comparable roles in central matching, connectivity, and reporting workflows relevant to European institutional clients.
- EEX (European Energy Exchange): Operates European energy exchanges for power, gas, and environmental products and is one of the largest organized marketplaces connected to Equias via eRR. EEX is a broader incumbent that competes with some OTC workflows by channeling trading onto exchange venues and related clearing services.
Direct peers
- Kaizen Reporting: Specialist regulatory reporting firm offering EMIR, REMIT, MiFID II/MiFIR, and SFTR reporting services to financial and commodity market participants. Kaizen is a direct competitor to Equias's eRR service in the same regulatory regimes and similar European client segments.
- Trayport (ION Group): Electronic trading platform for European energy and commodity markets, providing order book connectivity, trade matching, and workflow tools for brokers and traders. Trayport is the closest direct peer to Equias because both sit at the intersection of trading workflows and post-trade automation across the same European OTC energy customer base.
- UnaVista (Nasdaq): Nasdaq's regulatory technology arm providing trade and transaction reporting, reconciliation, and analytics for EMIR, MiFID II, and related regimes. UnaVista competes directly with Equias eRR and adjacent reconciliation and reporting services for European institutional clients.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights8 records
Customer concentration
Equias social profiles
Digital presenceEquias compliance and trust
Trust signalCompliance1 record
Equias financial estimates
Financial estimateRevenue estimate
Valuation estimate
Equias leadership team
Management profileNumber of profiles
Profiles4 records
Equias funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Equias M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Equias
What does Equias do?
Equias provides post-trade automation services for the European OTC energy market via its cloud-based Central Matching Services (CMS) platform. Its offering spans the entire trading lifecycle with eCM for automated trade confirmation matching, eRR for regulatory reporting (REMIT, EMIR, MiFID II, ElCom), eSM for settlement and invoice matching, and eTM2 for REMIT II transaction surveillance. Equias operates the largest independent Registered Reporting Mechanism (RRM) authorised by ACER, handling over 90% of brokered European energy market regulatory reporting.
Is Equias a public or private company?
Equias is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Equias founded?
Equias was founded in 2003. It employs 11 to 50 people.
Where is Equias based?
Equias is headquartered in Guildford, United Kingdom, in the Europe region.
How does Equias make money?
Six revenue lines are on record. eCM (electronic Confirmation Matching) is the primary driver. The others are eRR (electronic Regulatory Reporting), eSM (electronic Settlement Matching), eTM2 (electronic Trade Monitoring), eBO (electronic Back Office) and REMITREP (EU Representation).
Who are Equias's main competitors?
Broad incumbents on record are DTCC, ION Group, Intercontinental Exchange (ICE), LSEG (London Stock Exchange Group), Euroclear, Clearstream (Deutsche Börse) and EEX (European Energy Exchange). Direct peers are Kaizen Reporting, Trayport (ION Group) and UnaVista (Nasdaq).
Does Equias have an API?
No public API is recorded for Equias.