New Feature: Inventory Tickets

v243 of Molecule released this week! In it was an important new feature for our physical trading customers: Tickets – for delivery, shipping, and inventory.

What do Tickets do?

With Tickets, Molecule users can:

  • Increment or decrement actual volumes when commodities schedule, ship, or arrive, and compare these to contracted volumes
  • Compare contracted renewable credits with physical credit deliveries
  • Manage, mark, and true up inventory buckets directly (as opposed to only via physical trades)

Why is this Important?

Molecule has been on a long journey to build the easiest-to-use & most technologically-advanced ETRM/CTRM. We've supported physical and financial customers on our platform from Day 1 – but our physical customers have often advocated for more features.

Last December, we released our Inventory feature, which takes volumes from settled physical deals,  increments/decrements stored amounts, and calculates weighted average prices. We've enhanced it since then – adding functionality and polishing rough edges – and put it into regular production use.

Tickets is the next logical step in our physical logistics journey: direct access to deliveries and all the complexity around them. We have many enhancements planned for this feature – from custom fields, to a world-class ticket/deal-linking screen, to special options for renewables. We owe a big "thank you," to the customers who have helped us design this feature.

We're working hard on our logistics stack, and there's much more to come – so keep checking in with us!

What fields do we capture?

Tickets are typically linked to a Trade, so can inherit all the trade's attributes. In addition, Tickets can override a price or quantity. Custom fields for tickets are coming soon!

POST API for Tickets

How do I get the Feature?

All Molecule customers on the Core package and up, now have access to Inventory Tickets.

To learn more or ask questions about this new feature, please reach out to info@molecule.io. Or, if you are an existing customer, please reach out to Molecule's customer success team.

New Feature: Custom Fields Galore

The Molecule Ecosystem

Top Questions Our Sales Team Is Asked

Software

Falsehoods About Time in Energy Trading

With Daylight Savings Time starting soon, we've been thinking a lot about time.

At Molecule, we do a lot with power. Which means we do a lot with time zones and hours-of-the-day, and even hours in a day, which – in case you didn't know – varies twice a year, and on a different day in the US and Europe. (Yep, we're talking about the daylight savings time switchover days).

Our lead engineer brought this readme to our marketing team's attention. It reminds me of the hours spent agonizing over the minutiae of time zones, with regards to energy markets. It's worth a read, and I'd like to add a few more Falsehoods About Time:

  1. Hour-Ending fits in a date data type
  2. Power market operators choose time zones based on easy, constant differentials from UTC
  3. Power market operators always choose time zones that line up with their geography
  4. Power markets span single time zones
  5. The DST switchover day is the same in every country
  6. States and municipalities never change their minds about which time zone to be in, when.

Time is just plain hard!

There might be people who believe that we're overcomplicating things with all of these concerns. (Honestly, we originally had some of those concerns as well!). But a key takeaway is, on the day of the DST changeover in a locale – we call that the DST transition day – someone needs to put an hour extra worth of coal in the generator. Or an hour less.

Power itself is complicated to trade. There are myriad contract types and prices across seven ISOs in the US alone. Power itself is complicated post-trade when operations teams have to perfectly balance the grid's supply and demand. And, things are getting more complicated as we introduce more and more types of power like renewables.

So, properly handling time is crucial ETRM functionality, and over-thinking it is absolutely called for when trading power. 1.21 gigawatts/plutonium won't solve this time conundrum, but thoughtful coding and attention to detail will.

Software

New Feature: Custom Fields Galore

We're excited to announce our latest new feature: Custom Fields on, like, everything!

Over the last 10 years, we've continually added new attributes to the main models in Molecule: Trades, Counterparties, Products, and Books. Of late, enterprise customers have been asking us for more – specifically, more ways to slice and map data from Molecule. Why?

  1. Custom Grouping of Reports: Large trading organizations often want to group Products or Books, for example, in ways that make sense to them. For example, a group of Books might be part of an Organizational Unit that only one team focuses on. Or, a certain type of Trade might be logically grouped with another type, in a way that only makes sense for that organization.
  2. Mapping to Other Systems: Often, data in Molecule needs to be matched up with data in another upstream/downstream system. For example, Counterparties in an ETRM might be linked to Customers in a GL – and a mapping of names needs to exist somewhere easy.

For Books, Products, and Counterparties

With Custom Fields on almost any object in Molecule, both of these use cases are trivial. Just ask the Molecule team to set up the fields you'd like. After that, go to the relevant Settings screen (Books, Products, Counterparties), find the object you'd like, and click "Edit Custom Fields" on the left, to edit custom fields.

For Trades

For Trades, editing custom fields is even easier and more powerful.

  1. Custom fields show up on only the types of trades you'd like, and are available by clicking the Custom button on the bottom left of a trade.
  2. Molecule can now default the values of Custom Fields on a trade – i.e., to set a value for all Financial Power, to "FINPOW" – based on mappings you provide our team.

In Reporting

Once set up, Custom fields can flow into just about any reporting in Molecule. They show up by default on the new Valuations screen and v2 Valuations API endpoint – and therefore can flow into any reporting attached to them!

Custom Fields are available on all Molecule packages, and we're happy to roll them out for your team. Just reach out to our Customer Success team, to get started.

Molecule, the Product: Looking Back on 2021

At Molecule, we're incredibly proud of our team and what they do – and super proud of our product. To celebrate, we decided to look back at the damage we did in 2021.

Last year, we shipped 22 releases, containing 237 new features and 75 bug fixes. Among the major new features we shipped:

  1. Our new, lightweight Inventory feature
  2. Djinn, our crypto package–including integration with Gemini and CME for crypto.
  3. Elektra, including arbitrary block conversions, ISO connectivity powered by PowerOptix, and our partnership with NRGStream (to automatically provide LMPs and block prices for North American power)
  4. Our new, lightweight Contract Management feature (Agreements)
  5. Integrations with Nodal Exchange (for power and gas) and APX (for renewable credits)
  6. Magic Link Login Fallback (for when Auth0 takes down half the Internet)
  7. New support for spot trades (for physical traders) and as-generated trades (for PPAs)
  8. The first version of our new Position/P&L Limits feature
  9. New user-facing admin screens (including Books & Products) – as part of our commitment to make Molecule even easier to administer
  10. New ability to add custom fields to pretty much any major object in Molecule (Trades, Books, Products, and Counterparties)
  11. Many new upgrades to FCM reconciliation (including fees reconciliation and support for 3 new FCMs–for a total of 15)

We're super excited about these, and the many new features on our roadmap this year. It's our 10th anniversary, and we've got all sorts of great things cooking to celebrate–more crypto features, more analytics features, lots of integrations, and some long-overdue screen refreshes, among them.

This was a huge amount of work, and I'm proud of our team for all we've shipped. We're hiring as well! So, if what we're doing sounds interesting to you, check out our careers page.

Meet Elektra, Our New Power Markets Package

Djinn - Enterprise Crypto by Molecule

Do You Interface with Our FCM?

Djinn - Enterprise Crypto by Molecule

Enterprise crypto trading is out in the open, but the companies who trade have to live in the shadows. Risk management processes are homegrown, and crypto transactions are wedged in systems that don’t fit them — or worse, they can’t be seen at all because they are trapped in apps on phones.

Until now.

Molecule, the leading cloud-native ETRM/CTRM system, today announces Djinn — our enterprise offering for crypto.

With Djinn, companies trading cryptocurrencies can see their risk and exposure alongside everything else they trade — electricity, other energy commodities, renewables, ags, softs, chemicals, metals, and more.

Djinn connects to exchanges like CME and Gemini to automatically download executed futures, options, spot, and storage transactions — and models them right alongside the physical and financial derivatives they relate to.

Position, P&L, and other metrics calculate instantly, and Djinn downloads market data from relevant markets. FX conversions are built-in, to support customers trading in any traditional fiat currency.

Customers using Djinn benefit from the full raft of Molecule’s enterprise risk management features, including audit trails, automatic locking, fine-grained permissions, and complex book structures — as well as the modern APIs and easy-to-use screens Molecule is known for.

With Djinn, enterprise crypto customers can expect to be up, running, and compliant in 90 days.

If you’re trading crypto and want to come out of the shadows, contact our sales team for a demo. With Djinn, your enterprise crypto wish is our command.

Software