Codeli offers a wide variety of automated tools to increase process efficiency in the crude oil marketplace.
Direct Deal is an additional feature of the Net Energy Exchange (NE2) trading platform that allows traders
and back office personnel to create and confirm deal tickets for any crude oil trades they have conducted
whether within or outside of the NE2 platform. Direct Deal is a very fast and efficient way of automating
the processing of trades seamlessly from a single entry and retrieving them from a single repository.
Direct-Deal Business Process Flow
The business process flow for the Direct Deal system allows a user to initiate a deal
ticket with a counterparty in a wide variety of standard or bespoke transaction types,
and then notify that counterparty immediately online of the pending deal ticket.
The counterparty may then amend the deal ticket to correct any terms and re-send it
back to the original user, or confirm the deal ticket. Once confirmed, the deal ticket is
processed as any NE2 transaction would be, providing the transaction detail for pull
down from online reports, export from the NE2 download site, or through push-driven
messaging using our FIX API.
Straight-Through Processing and Automation
Transactions confirmed through Direct Deal may be automated throughout the
various internal systems and checkpoints that firms have in their organizational
structure. The benefits from using Direct Deal can come either from providing a single
reporting and download link for deals from any platform or broker, or from streamlining
the entry of transactions into a deal capture system in real-time. In either scenario,
firms save time and money spent in manually entering transactions from various
sources into multiple systems and accuracy and reliability are improved through
instantaneous confirmation and data entry.
Standard Data Repository
Direct Deal also acts as a standardized, confidential and secure data repository for
tracking and reconciliation of deal tickets. By utilizing a standard source, firms can
simplify the process of mining transaction records for internal audit, corporate
governance or regulatory purposes. Transaction records may also be consolidated
for position tracking and reporting requirements.
Online Deal Ticket Entry
The first step in using Direct Deal is to create a deal ticket to send to your counterparty. Accessing
Direct Deal is as simple as clicking on the NENA Option sidebar
from inside any NE2 trader login, then clicking “Create a New Direct Deal”. This
opens up a deal ticket template, which allows you to enter the buyer, seller, and deal
Amend & Confirm
Direct Deal allows the buyer and seller to ensure accuracy of their confirmation
directly through the online amendment tool. Once the buyer or seller originates the
deal ticket, the counterparty can amend that deal ticket and send it back to the source so
the amendment can be confirmed. Once both parties agree on the terms the
confirmation is processed. Either party can initiate future amendments at any time,
but any changes must be confirmed by both the buyer and seller to amend the
About Net Energy Exchange
Net Energy Exchange is the leading and most diverse crude oil marketplace in Canada.
Net Energy Exchange provides the full spectrum of voice brokerage, electronic
transaction and market information services to clients throughout the world
for trade in both physical and financial crude oil products.