Polish Power Exchange launches new trading system with Nasdaq

Polish Power Exchange launches new trading system with Nasdaq

Towarowa Gielda Energii (TGE – Polish Power Exchange) has launched a new trading system provided by Nasdaq.

Nasdaq has partnered with TGE since 2008 and the new technology allows TGE to expand future activities, including adding commodity and derivative instruments to its business offering.

The trading platform features multi-market model support, a range of order type and asset types, market maker support, execution of derivatives market strategies, market data processing, index calculator, risk management, real-time position keeping, and market control and supervision.

Dr Paweł Ostrowski, president of the management board of TGE, says: “The latest technology will allow us to face European regulatory challenges and offer the necessary flexibility in shaping our offering.”

In the second phase of introducing the technology, Nasdaq will work with TGE in implementing a new system that supports the electricity auctions for interconnections under the Market Coupling mechanism. The launch of the system, which is scheduled for late-June/early-July 2017, will enable the operation of a cross-border, day-ahead market.

Nasdaq’s market infrastructure technologies, including trading, real-time risk, index, clearing, central securities depository (CSD) and market surveillance systems are operated in over 100 marketplaces, regulators, clearing houses and central securities depositories in the US, Europe, Asia, Australia, Africa and the Middle East.

Nasdaq is also the technology partner of IRGiT (Warsaw Commodity Clearing House), controlled by TGE, which has been providing clearing services with the use of the Nasdaq Packaged CCP system since June 2016.

TGE was established in 1999 and is the only licensed commodity exchange in Poland (licence since 2003).