TGE Launches New Trading System Ahead of Harmonization Push
The Polish Power Exchange has upgraded its trading platform with new risk management and trading capabilities.
The Polish Power Exchange unveiled its new enhanced trading platform on June 5, featuring a range of enhancements to existing features and the addition of new tools and capabilities.
New technology capabilities at the exchange, known as TGE, include market-maker support, upgrades relating to the execution of derivatives market strategies, market data processing, and an integrated index calculator. The upgrades also include enhancements to its risk management processes, real-time position keeping, and improvements in TGE’s market control and supervision capabilities.
The new platform is provided by its long-time partner, Nasdaq, with which the exchange has been collaborating with since 2008.
Pawel Ostrowski, president of the management board of TGE, said that the new system would help the exchange comply with European regulatory mandates. Commodity markets in Europe have been presented with a number of new regulations in recent years, including the Regulation on Wholesale Energy Market Integrity and Transparency, known as Remit, as well as being affected by other rules designed to govern derivatives trading.
“This will enable us to offer the necessary flexibility in shaping our offering while providing the users with enhanced portfolio management options for selling and buying instruments traded at TGE,” said Ostrowski in a press statement announcing the changes.
The upgrade is scheduled to complete in several phases. The second phase, due to go live in late June or early July, will continue the theme of regulatory compliance by allowing TGE to operate as a cross-border, day-ahead market. This is in line with the Price Coupling of Regions project, an initiative from European power exchanges designed to create a harmonised European energy market.
The upgrades will allow TGE to expand further in the future, with the development of additional commodity and derivative instruments.
Further reading
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Liquidnet sees electronic future for gray bond trading
TP Icap’s gray market bond trading unit has more than doubled transactions in the first quarter of 2024.
This Week: HKEx's new derivatives platform; GoldenSource; Quonian-SimCorp, and more
A summary of some of the latest financial technology news.
Chris Edmonds takes the reins at ICE Fixed Income and Data Services
Edmonds is now leading ICE’s fixed income and data business as the rush to provide better data and analytics in fixed income builds.
Systematic tools gain favor in fixed income
Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.
Waters Wrap: Examining the changing EMS landscape
After LSEG’s decision to sunset Redi, Anthony examines what might lie ahead for the EMS space.
This Week: Clear Street, AXA/AWS, TD Bank/Google Cloud and more
A summary of the latest financial technology news.
LSEG to sunset Redi EMS in favor of Tora
Sources say competitors will look to seize on the decision to win over Redi’s sizeable US client base.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs