CME ClearPort » ConfirmHub
ConfirmHub
Overview

ConfirmHub, LLC is a joint venture founded in 2004 by the leaders in the energy brokerage and exchange industry. The current membership consists of the GFI Group, Amerex, ICAP, Tullett Prebon and the NYMEX. The ConfirmHub allows users to manage confirmation processing of brokered, exchange-traded, and bilateral transactions through a single web services API and an interactive, web-based trade confirmation application.

Why ConfirmHub?

In the past, transactions were handled through regular mail, fax and email, with formats and conventions as individual as the numerous companies involved. This proved inefficient and error-prone, especially considering the many validations required before a single transaction was accepted as valid.
ConfirmHub resolves these issues by providing a streamlined, easy-to-implement, standardized confirmation method.

What are the benefits of Straight Through Processing (STP) with ConfirmHub?
 
  • Trade accuracy
  • Reduced operating costs
  • Minimized settlement risk
  • Increased transaction speed
  • Access via application programming interface (API)
How does ConfirmHub work?

First, the trade desk initiates the transaction. Then, the broker, the exchange and/or the counterparties processes the trade information in their respective systems.  This information is sent to ConfirmHub, which standardizes the various forms into a common value set and presentation format.

How is ConfirmHub integrated with NYMEX's current products?

After an existing NYMEX customer registers for ConfirmHub, NYMEX will securely stream that customer’s trade data to ConfirmHub. ConfirmHub will then pass along this data to the end-user via a web-based front-end or API through its advanced confirmation processing system.  The customer is provided with an added level of confirmation for all NYMEX transactions, including any brokered through ClearPort.

What is the cost of the Basic Service?

Free for NYMEX ClearPort users.  Basic Straight Through Processing (STP) services are provided at NO additional cost upon registering.