BBCE, the Brazilian OTC Energy, launches a solution that will transform how energy contracts are settle. The company is launching an easy and digital service named BBCE Liquidação Financeira.
Until now, in the energy physicals market, the first business days of the month required extensive mapping, long hours of work and several electronic transfers. Now, companies that use BBCE platform will have their operations settled in a single electronic transfer.
Based on what a company must pay and receive from the other, BBCE provides a true match of payments using Banco Bradesco, which will function as a Settlement Agent for the parties involved. If the company needs to pay (is in debt), it will deposit the net difference in Bradesco on the 5th business day, in a single transfer. However, if the company has amounts to receive (it is a creditor), it will receive the net difference in its account at that bank on the sixth day, also in a single transfer.
According to Camila Batich, CEO at BBCE, the new feature will contribute to a new dynamic in the energy market. “As a result, the market gains transparency, operational security and efficiency,” she explains. The initiative is part of a broader project by the Company with the objective of providing solutions that contribute to the safety of energy contracts. “Last year, we launched a supervision for our physical’s platform, which allows us to monitor 100% of the operations and gradually apply sanctions in atypical situations. With the settlement, we take another step towards contributing to the transparency of the sector,” says Camila.
“BBCE is committed to being a source of liquidity, transparency, and safety for energy businesses. We are working on standards for calculating risk in our environments, tools for managing guarantees, among other innovations,” she adds.
