Electronic & Algorithmic Trading
Electronic execution depends on the stack behind the order: OMS, EMS, routing, market access, venue connectivity and algo controls.
Markets & Trading
ETRM & CTRM Platforms
An ETRM is judged on whether scheduled, actualised and invoiced volumes agree with the financial books, every month.
Overview
An ETRM or CTRM decision shapes a trading business for years. Every deal, schedule, nomination, actualisation, invoice, exposure and control depends on the platform and the way it is implemented.
Capmark helps energy and commodity traders, utility and generator trading arms, and bank commodity desks select, implement, upgrade and recover ETRM and CTRM platforms. We work across Endur, Allegro, Aspect, RightAngle and cloud-native platforms such as Molecule, with controls designed into the platform rather than added after go-live.
We bring the delivery disciplines needed for trading platforms to work in live markets: deal lifecycle control, physical and financial reconciliation, commodity risk, credit exposure, surveillance, reliable interfaces and month-end close.
What we do
We score candidate platforms against your actual deal types, including power purchase agreements, storage, transport capacity and physically settled products. Demonstrations are scripted around your book, and total cost is assessed across licence, integration, support and upgrade cycles.
We deliver the platform from deal capture through confirmation, scheduling, actualisation, settlement and invoicing. Book structure, curves, workflows, controls and interfaces are configured around how the desk trades.
We build the reconciliations that prove scheduled, actualised and invoiced volumes agree with the financial books. Break management, P&L explain, exposure reporting and month-end close are designed to run from the system, not from offline workarounds.
We design surveillance, position limits and exposure controls for energy and commodity markets. Abuse scenarios, alert calibration, credit exposure, margining, collateral and escalation paths are built around physically settled trading and trading-speed decision making.
We define control points across deal capture, confirmation, nomination, actualisation, settlement and invoicing. Segregation of duties, exception workflows and evidence are built into the process, so commitments can be traced, tested and evidenced where enforcement or independent review is involved.
We run version upgrades as full delivery programmes and take on recovery work where implementations have stalled or gone live unstable. We stabilise break backlogs, reconciliations, interface failures and manual workarounds, then re-baseline scope, vendor commitments and delivery plan.
What to expect
A Principal leads from day one with a small senior team. The first weeks focus on your book: deal types, book structure, interface inventory, reconciliation breaks, control gaps and the workflows the desk actually runs.
We then agree the target design with trading, operations, risk, compliance and technology, and deliver in phases through configuration, integration, testing, cutover and hypercare.
Engagements range from a focused platform selection or health check to full implementation, upgrade, control-build or recovery ownership.
01
Assess
Establish the current state, the constraints, the risks and the value at stake.
02
Define
Shape the target model and the business case with the executives who own the outcome.
03
Mobilise
Stand up the team, the plan and the governance around the outcome.
04
Implement
Design, build and test the change, with the business alongside.
05
Sustain
Cutover, hypercare and handover, so the business runs it under its own control.
The same five stages on every engagement, led by senior practitioners end to end. How we work
Impact
15+
Trading and risk platforms implemented or enhanced across financial institutions
20+ yrs
Delivering trade-lifecycle, risk and post-trade platforms inside Tier 1 markets businesses
Client result
Proven in the work, not the pitch.
Capital Markets · Regulatory Transformation
MiFID II trading controls and infrastructure across six asset classes
Leading Investment Bank · Equities, Derivatives, Commodities, FX, Credit & Rates
We helped deliver trading controls and market infrastructure change across algorithmic trading, direct electronic access, market making, clearing, surveillance and best execution.
- 80+
- Venues retained
- $50bn+
- Cleared derivatives volume
- Lower
- Compliance overhead
- Reduced
- Surveillance false positives
Read the case study
Insights
Related thinking.
Get in touch
Talk to a Partner about ETRM & CTRM Platforms.
Tell us what needs to change and where the pressure or risk is showing.