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Intraday trading harmonized across eight countries

Continuous Intraday trading for Great Britain successfully migrated to M7 trading system

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26/11/2018

London / Paris

The European Power Exchange successfully migrated the EPEX SPOT continuous market in Great Britain to the M7 trading system, already in place on all other continental continuous markets. First trading day was 22 November 2018.

Jonas Törnquist, Chief Operating Officer of EPEX SPOT, comments: “The implementation of the M7 system in Great Britain brings access to state of the art Application Programming Interface (API) technology to this very liquid continuous market. This is a true asset for Intraday trading, where orders are submitted and processed at an increasing rate.”

This trading migration marks the final step in the system migration process, which is hereby completed, and which has been ongoing since the merger of EPEX SPOT with former APX Group in 2015. One of the main goals of this merger has always been to develop a truly European offer for the customers, with one membership, one rulebook, one clearing and harmonized trading systems across Central Western Europe and Great Britain, all on one Exchange. Jonas Törnquist adds: “This brings tangible benefits for trading members, such as reduced fixed costs thanks to one single trading system for continuous markets, as well as access to multiple markets under one Exchange membership and through one single trading screen.”

Before the merger, the eight countries operated on three differing trading systems for Day-Ahead trading, two differing systems for Intraday trading and two clearing houses. The stepwise migration of trading and clearing commenced in March 2016, when EPEX SPOT and European Commodity Clearing ECC transferred all clearing operations to ECC. In October 2016, continuous Intraday trading in Belgium and the Netherlands was transferred to M7, the trading system used on all EPEX SPOT Intraday markets. In January 2017, EPEX SPOT transferred the Dutch and Belgian Day-Ahead markets to the EPEX Trading System (ETS), the GB Day-Ahead market followed in April 2018. The recent trading migration of the GB continuous markets completes the process. Power trading across Central Western Europe and Great Britain has in this way been harmonized, as all EPEX SPOT Day-Ahead and Intraday markets are now accessible through one respective trading screen.

-ENDS

The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe and the United Kingdom. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. In the first half of 2018, 284 TWh have been traded on EPEX SPOT markets. In 2017, its 285 members traded 535 TWh – a third of the domestic consumption in the eight countries covered. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.

 

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