TGE Launches New Trading System Ahead of Harmonization Push

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.