A tradebook is a company's internal record of every trade (or counterparty contract) it has executed in a given market, including EAC trades. It serves as the system of record for what trades have been booked, what obligations exist, and what positions the company holds before reconciliation with the registry.
An EAC tradebook records each trade with details including counterparty, trade date, certificate type (GoO, REC, I-REC, etc.), quantity in MWh, vintage, technology, geographic origin, price, settlement terms, and delivery deadline. Trades can be buys (incoming certificates) or sells (outgoing certificates, which become delivery obligations).
A tradebook is a record of all trades executed, whereas a certificate inventory is a record of certificates currently held. A trade can sit in the tradebook for weeks before the corresponding certificates appear in inventory, depending on issuance and delivery cycles.
Most utilities maintain their EAC tradebook in spreadsheets, an ETRM, or a dedicated EAC or GTRM platform. The choice depends on trade volume, integration with other trading desks, and how much of the post-trade workflow is automated.
The tradebook and the registry are independent systems that need continuous reconciliation. A trade is booked in the tradebook at the moment of agreement and the corresponding registry actions (issuance, transfer, cancellation) happen separately, often days or weeks later.
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