A World of Power at E-World
With E-World Energy and Water (Essen, 11th to 13th February) just around the corner, the Nord Pool team looks forward to seeing you at stand 3-124 in hall 3.
As always, we welcome the opportunity to meet customers and hear more about the challenges you are focusing on now, and for the future.
If you particularly want to meet your local Nord Pool Market Manager be sure to contact us in advance. Otherwise drop by the Nord Pool stand for an informal chat.
Stick with Nord Pool’s UMM
Our customers will soon be receiving a request from the TSO in Denmark, Finland, Norway or Sweden to register their choice of transparency platform for reporting under the Transparency and REMIT regulation.
Why not make life simple? Just continue using the current proven Nord Pool UMM system, with Nord Pool as your provider. There is no need to change – our UMM system provides a trusted and easy way to comply with regulation.
You must respond to the TSO request by Friday 28th February. To continue with Nord Pool’s UMM system simply report this back to the TSO using the form they provide (if your company has already registered its preferred platform, by filling out the TSO form at an earlier stage, that registration will no longer be valid and you will need to re-register).
Recognition for Camilla
Our General Counsel Camilla Berg has started the year being recognised by her peers in the legal community. Not only has Camilla been nominated in the Regulatory category of the Lexology European Legal Counsel Awards, she also made the GC Magazine Legal 500 Powerlist of the most influential senior in-house lawyers in Norway.
Camilla will find out at the Lexology awards ceremony later this year whether she has won.
We wish her good luck!
REMIT Best Practice on Algorithmic Trading
The second edition REMIT Best Practice Report is now available on Nord Pool’s website, offering a full update of the previous version, plus an all new section on best practices regarding algorithmic trading.
This comprehensive review of how to comply with REMIT, related to inside information and market abuse, is intended as a guide to best practice, helping market participants ensure they have implemented the right measures to comply with REMIT and thereby limit their risk of misconduct.
Together with 10 market participants, one sector organisation and our own experts on REMIT and market monitoring we have developed recommendations on how to design, test, approve and monitor algorithms. The report also provides specific suggestions for when you purchase your algorithms from a software vendor. Market participants are recommended to have a governance model, including a formalised approval procedure, for their algorithms. This also means that market participants should have the necessary skills and technical expertise to understand how their algorithms work.
Read our new REMIT Best Practice Report here.
More News on Surveillance
The experts in our specialist Market Surveillance team are sharing their knowledge on compliance issues and power trading best practice with the release of the latest edition of their quarterly newsletter.
This quarter the Market Surveillance team takes a look at potential issues around countertrading on the border between Denmark West and Germany, and examines the case handling process.
Read more here.
Nordic MNA – New Launch Date
As you may already be aware, the Transmission System Operators and Nominated Electricity Market Operators implementing the Multi-NEMO Arrangement (MNA) project in the Nordic region are rescheduling their go-live date.
Go-live (initially scheduled for Tuesday 10th March) is subject to successful completion of simulation tests on operational readiness. Revising the date enables additional testing to be undertaken to ensure robustness and reliability.
A new go-live date will be announced at the end of February. We will aim to keep customers informed as further information becomes available.
(c) E-world photography: Udo Geisler