LeanETRM

An open source ETRM for commodity trading, built for traders, risk managers and AI agents.

LeanETRM books trades, builds curves and calculates P&L and risk on a standard, unmodified PostgreSQL database. Calculations use exact arithmetic, every curve price traces back to the observations that built it, and corrections never overwrite history. It is aimed at shops that need real trade capture and risk without a seven-figure implementation.

Status: a foundation, not a finished product. Try it as a disposable local preview on synthetic data. Nothing here is production-qualified.

For a worked PPA example, follow the PPA tester guide for synthetic booking, graphical break-even pricing and settlement previews.

What works today

• Trade capture: futures, financial gas and power swaps, factor swaps and PPAs, with exact party references and retained history. New trade opens each product's booking workflow; supported amendments retain immutable revisions
• Physical gas: independent fixed delivery, cash and fee sides in the deal ticket, with explicit fuel links, versioned delivery setup and trade-owned daily quantity revisions. Contractual pre-delivery PV is supported; gas scenario risk and physical settlement remain work
• Physical crude: fixed standard-volume booking, contractual pre-delivery PV and interactive/queued risk, plus bounded receipts, title transfer, inventory-lot allocation, dispatch, invoices, payments and cash-record corrections. See the contract and operations
• Curves: futures, gas and power forwards, basis and interest rates, built from explicitly selected prices, with a diagram showing which inputs built each contract's price. The custom-curve workbench supports visual/formula recipes and explicit weighted contract baskets, reusable published curve outputs and guided combinations of computed curves with matching periods and units; all keep their upstream graph links; the swap editor selects compatible published outputs for monthly or exact daily projections. Effective-version timelines resolve under the selected business date and knowledge cutoff
• P&L and risk: futures execution P&L and swap/PPA PV using pinned actuals and projections. Connected quote and computed-output scenarios produce exact delta and gamma; generated-close jobs retain mixed futures-and-swaps reports. Interactive and queued portfolio risk also cover supported PPA and crude bindings; gas bindings appear as explicit exclusions, and automated gas/crude closes refuse. A delta ladder shows each shocked contract's totals by book and measure, see the delta ladder
• Agent curve drafts: authorized agents can read curve ingredients, prepare a pinned preview and save a bounded custom-curve draft through the ordinary Save operation under the person's authoring permission. Explicit Review opens the ordinary editor; publishing remains a person’s action
• Live corrections: push updates through the shared header context, with visible refresh/stale status; policy and limits
• Risk jobs: temporary nested stresses, risk around the stressed market, and queued mixed-book runs pinned to the header's financial context, with retained results and cancellation; see the risk engine
• Scheduled swaps: persistent booking, amendments and inspection of up to 120 monthly periods per side, with explicit quantities, observations, payment rules and discounting; see quantity contracts
• Swap settlement: opt-in immutable determinations, corrections, gross/net allocations, manual cash recording, reversals and a closing-context P&L bridge; see the bounded lifecycle
• Blotter: filters, pivots, saved views, charts, exports, docked trade details, pop-out and backend-prepared close-out drafts; see the workbench
• Dashboard: account-owned layouts, curve levels/history and positions from saved risk run definitions; see implemented widgets and limits
• Interval series: audited per-interval values on any market clock (price shapes, capacity-factor forecasts, metered energy) with CSV import, corrections, a change log and reads at a chosen knowledge time. Shaped interval curves consume price shapes; PPA quantity/valuation consumes forecast and meter series. PPA settlement has a separate read-only monthly gross preview, without cash posting; see the implementation record
• Interval curves: hourly and sub-hourly prices marked directly or shaped exactly from monthly peak and off-peak marks, delivered hours resolved to collected actuals under an explicit due rule, with lineage for every price, see the implementation record
• History: browse supported market and trade history at explicit business and knowledge times; trading-history cutover boundaries refuse earlier trade contexts
• Access control: roles enforced by PostgreSQL row-level security, with people and AI agents as separate principals; agent actions require an explicit delegation
• Private pilot mode: invited user accounts and scheduled PJM and ERCOT day-ahead and real-time price collection; see private pilot operations
• Page assistant: bounded delegated reads, recorded conversations, provider configuration and usage accounting in the local preview; see the assistant's implemented scope

What's not built yet

Full futures settlement PV and variation margin, options, VaR, gas scenario risk and physical settlement, general physical power booking, inventory costing, post-delivery crude valuation, PPA accepted-cash accounting/payments, broader agent credential lifecycle and production qualification remain work. General swap/PPA portfolio execution directly from compact retained programs is still an integration task; the booking-storage checkpoint alone does not complete it. See the delivery plan. If you want to help with any of these, start with CONTRIBUTING.md.

Quickstart

You need the .NET SDK pinned in global.json, Node with npm (version in .node-version), Python 3.11+ with assertions enabled and PostgreSQL 16 or later. CI runs on Ubuntu 24.04.

git clone https://github.com/zerodrift/leanetrm.git
cd leanetrm
python3 tools/run_preview.py --pg-bin /path/to/postgresql/bin --dotnet /path/to/dotnet

Open the http://127.0.0.1:PORT address it prints. You start as a read-only demo user; click Explore sample power prices for a worked example. To book trades or correct prices, switch demo users under Profile → Preview access.

The preview builds the app, creates its own throwaway PostgreSQL cluster seeded with synthetic data, and deletes it when you stop it with Ctrl+C. It never connects to an existing database.

Docs

• Public website source and checks
• Frontend widget-to-backend operation map and verification

Design

• Architecture and domain contracts
• Delivery plan and acceptance criteria
• Decisions, proposals and unresolved choices
• Events and lifecycle
• Historical context and temporal data
• Market model proposal and key linkages

Implementation

• Current implementation and verification
• Blotter workbench
• Description-driven deal ticket (physical gas)
• Scheduled financial swaps
• Financial swap settlement and P&L
• PPA and heat-rate portfolio consumers
• Physical gas booking and quantities
• Physical crude booking and delivery-to-cash operations
• Market dashboard and saved risk runs
• Booked executable schedule storage and remaining cutover
• Business scenarios, settlement gaps and shared scenarios
• Market-data contracts
• Reference data and futures

Operations

• Connected-curve cutover prerequisites
• Jobs, workers and infrastructure
• Private pilot operations
• Local verification and CI

The wider documents specify the intended system; they are not claims of implemented functionality or production qualification. The intended hosted domain is leanetrm.com. No hosted service or deployment is implied by this repository's current status.

Development

Read the project instructions, architecture and delivery plan before changing the application.

• python3 tools/check_standalone.py checks dependency boundaries.
• Add --check to the preview command to run the HTTP integration checks, then clean up.
• npm test --prefix web runs presentation checks, including isolated browser-control checks when CHROME_BIN names an installed browser. The complete verification command passes its explicit --browser selection to these checks.
• Local verification and CI has the complete check command and hosted-runner boundaries.

Contributing

Small fixes are welcome. Sign off contribution commits with git commit -s under the Developer Certificate of Origin. See the contribution guide; designated core contributors also sign the Core Contributor Agreement.

License

Copyright (c) 2026 Trusty Genius LLC.

Licensed under the Apache License, Version 2.0.

The local frontend uses pinned public presentation dependencies for its trading grid and analytical charts. The build serves their assets locally and includes required license notices under web/dist/vendor. Business calculations remain in the managed backend; see implemented capabilities.