CpML was first part of
EFET's eCM and eXRP standards. It was spun off into its own standard in 2012 (released as version 4.0) in the dawn of new regulatory reporting regimes for
energy derivatives - such as
Dodd-Frank,
EMIR, and
REMIT - when market participants asserted a wide variation in deal representations both within and between energy trading companies which caused a challenge to consolidate and report trade data. Until 2014, estimated benefits from regulatory reporting being a catalyst for improved data and analytic capabilities had not materialised. as an independent entity overseen by the
European Energy Trading CIO Forum. CpML was continuously evolved according to regulatory needs. It was extended to include document structures to exchange and validate invoices and netting statements in the energy sector (
electronic Settlement Matching) by the EFET in 2019. ==Governance==