Molecule Software Blog

The Molecule Software ETRM/CTRM Blog

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 is SOC 1 Type 2 and SOC 2 Type 2 Certified

We are proud to announce that Molecule has achieved SOC 1 and SOC 2 certifications, both against the more difficult Type 2 Standard.

While these certifications have given us an opportunity for showing off our design prowess,

SOC 1 and SOC 2 Type 2 Certifications for ETRM/CTRM Software

they also validate that Molecule meets or exceeds SaaS company best practices.

If you're not familiar with SOC 1 and 2 certifications, here's why this matters.

You can have peace of mind and trust Molecule because an independent auditor has reviewed our business operations.

When the American Institute of Certified Public Accountants (AICPA) created these protocols, they set benchmarks related to five areas: privacy, confidentiality, security, availability, and processing integrity.

The process to complete these certifications, especially to meet the requirements for the Type 2 designation, involved detailed questionnaires, data requests, and other inquiries.

Our auditor reviewed internal policies including cloud security and employee satisfaction. We have demonstrated, to a third-party that is an AICPA firm, that we have systems and controls in place to protect customer data. Here are some of the types of controls they look into:

  • Two-factor authentication and usage of SSO
  • Employee background checks and annual performance reviews
  • Our organizational chart, internal control matrix, and employee job descriptions
  • Performing third-party risk assessments

We worked with Tugboat Logic to facilitate these certifications, and we appreciate the support they provided our team.

When companies are trading energy, commodities, or even crypto assets, the data they share with their ETRM/CTRM software provider is highly sensitive. We strive to bake as much security into our platform as possible and update these measures frequently. This is one of the many benefits that our customers get from using a cloud-based ETRM/CTRM.

We do some wacky things to protect our customers. For example – while some of our customers are comfortable sharing their identity, we know that not everybody is. This is one of the main reasons we created our code name and mission badge system for Molecule customers. As Sameer says:

Since Day 1, we've built our platform, and our company, with integrity at its core. But, integrity can feel ethereal and difficult to prove. These certifications validate that our internal policies meet or exceed industry best practices. - Sameer Soleja, Founder & CEO, Molecule

You can learn more about Molecule's security protocols for our ETRM/CTRM software on our website.

We encourage anyone considering implementing an ETRM/CTRM to talk to software providers about their credentials. We are also happy to answer any questions you have about the Molecule platform. Feel free to reach out to us at info@molecule.io.

The Molecule Ecosystem

We've Closed Our Series A

Fintech in Texas

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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.

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Do you Interface with our FCM?

We get this question often when speaking with prospective customers. The answer? Probably – and for most users, it doesn't matter whether we do or not.

How Molecule gets exchange trades

If you trade on any of the exchanges where Molecule has FIX adapters – ICE, CME, or Nodal Exchange – Molecule gets your trades from the exchange a few seconds after they clear, full stop.

No additional interfaces are needed to get your trades in: not to your FCM, clearing broker, TT, CQG, or anything else.

What Molecule does with FCM files

Molecule connects to an ever-growing number of FCMs (13 at last count) to download their statements as a check every day. We compare what the statement says to what Molecule has from a position perspective – because that's one of the most likely places for things to go out of sync. If we get position right, it's likely everything else is in line.

Can you also reconcile trade prices and fees with my FCM?

We're working on it.

Can you tell me what my margin needs to be or reconcile cash?

That would require us to have a SPAN engine on our platform (for ICE and CME)  – and we don't have that today. With the data we collect, we can get close to reconciling cash – see more on our Knowledge Base.

Incidentally, if you know how SPAN works, and would like to help us figure it out – hit us up!

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