New trading systems for UK markets ap-proved by Exchange Council
Paris, 22 September 2017 – At the quarterly meeting of the EPEX SPOT Exchange Council, the members approved the introduction of the EPEX Trading System (ETS) and M7 for Day-ahead and Intraday trading respectively on the UK market. The trading systems will replace the Eurolight system which is currently used. Following the merger of EPEX SPOT with former APX Group in 2015, a series of measures have been taken to harmonise power trading on EPEX SPOT markets across Central Western Europe (CWE). In early 2016, clearing was mi-grated to European Commodity Clearing (ECC), EPEX SPOT’s clearing house since its incep-tion. Intraday trading on the Belgian and Dutch market was migrated to the M7 trading system in October 2016, Day-ahead trading on both markets was migrated to ETS in January 2017. Since January 2017, all former APX Group entities with exception of the Belgian one (former Belpex, today EPEX SPOT Belgium) operate under a single EPEX rulebook. "The trading mi-gration of the UK markets is the final step in the process of Exchange migration and trading system harmonisation," says Jonas Törnquist, Chief Operating Officer of EPEX SPOT. The current timeline foresees a Go-live in January 2018 for Day-ahead and in February 2018 for Intraday trading."This harmonisation of trading systems across CWE and UK entails significant benefits for trading members," adds Bernhard Walter, Chairman of the Exchange Council.
The third Exchange Council meeting of 2017 was held on 21 September 2017 in Paris and was chaired by Bernhard Walter.
The Exchange Council of EPEX SPOT is an official body of the Exchange. 26 members and 4 permanent guests represent adequately the diversity of economic and corporate pro-files that exists among the Exchange Members from various sectors: producers, power trad-ing companies, transmission system operators, regional suppliers and financial service pro-viders, as well as commercial consumers and academics. Its missions include in particular the adoption of the Exchange Rules and the Code of Conduct of EPEX SPOT and their amendments. The Exchange Council approves new trading systems as well as new contracts or market areas and approves the appointment of the Head of the Market Surveillance Of-fice. It meets up quarterly.
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe and the United Kingdom. The creation of a pan-European power market is what defines EPEX SPOT’s mission. In 2016, its 278 mem-bers traded 529 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. EPEX SPOT is part of EEX Group. For more information, please visit www.epexspot.com.