Nord Pool and BRM Partner for New Romanian Exchange
Nord Pool recently announced an agreement for cooperation and system delivery with Bursa Română de Mărfuri S.A. (BRM).
Under the agreement, Nord Pool will assist BRM in its goal of becoming Romania’s representative energy exchange. Nord Pool will deliver software and consulting services to create the market systems allowing BRM to operate in the European single day-ahead and intraday markets as a Nominated Electricity Market Operator (NEMO - power exchange).
Market Reform Consultation - Our View
The European Commission recently held a consultation on its proposal for amendments to electricity market design. As Europe’s leading power market, Nord Pool provided input to the Commission’s consultation. Now we have published a white paper setting out our viewpoints.
We viewed as especially positive, suggestions for a cross-border intraday gate closure closer to real time and the suggestion that market operators should share their liquidity in all timeframes until delivery – something Nord Pool has long campaigned for!
New Trading Platform Features
We are pleased to offer two new features to Nord Pool’s trading platforms.
Firstly our new reasonability check is provided by Nord Pool in the day-ahead auction system where submitted curve orders are compared with previous trading days. Substantial deviation based on the reference day price will flag the submitted curve order, making it easier to identify erroneous bids.
A curve order that does not pass the reasonability check will be flagged and shown with a yellow bar in the Trading UI. Responsibility for submitting correct orders lies with members - unintentional errors or ignorance can be seen as market manipulation under REMIT.
For more details see the auction systems user guide.
Secondly, as an intraday market back-up solution for our Polish market, during planned or unplanned service breaks of the XBID platform of the Single Intraday Coupling (SIDC) process, Nord Pool will open local intraday contracts to our trading system.
This will allow our customers to continue to trade on the intraday market, within the Polish bidding zone, while waiting for XBID to come back online.
Follow this link for more details.
Power Markets Course and Post Pandemic Power Participation
Join the Nord Pool Academy team, plus expert special guests, in Bergen, Norway for our highly successful course on Europe’s power markets and our long-awaited Post Pandemic Power Participation networking event!
Held Wednesday 3rd to Friday 5th May, delegates can choose to attend all or just some of what is on offer with this unique power market course.
Find Out About February Prices
Interested in what happened in the power market last month? In our latest summary video, Nord Pool Trading Advisor Christian Traeland, gives an overview of February 2023 prices and explains some of the influences on price formation.
New Functionality on API
To save users of our auction API having to actively poll for results, Nord Pool has created a gRPC (high performance remote procedure call) providing a one-way streaming notification of both preliminary and final auction results.
API users can now listen for results notification and need only poll for trade results once it has been received, giving a much more event-based experience.
A full user guide is available here.
Don’t forget there is a clock change on Sunday 26th March. With the transition from wintertime to summertime, the clocks go forward one hour at 02:00 CET, meaning Sunday 26th will have 23 trading hours.
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