Amsterdam/Brussels/Oslo, 30 November 2009 - APX-ENDEX, Belpex and Nord Pool Spot have signed a Principles of Cooperation to work together to develop and establish an integrated cross-border intraday trading solution, with the ultimate goal of facilitating a single market across Europe.
The integrated cross-border trading solution will be based on the Elbas technology, which has a proven track record in the Nordic market over many years. The solution will be linked to the existing back office settlement, clearing and nomination systems operated by the different exchanges.
The parties will work together on the development to meet the requirements of an enduring regional and inter-regional intraday cross-border solution. Utilising existing systems and arrangements in a co-operative approach will allow the parties to offer realistic solutions in the short term as well.
The development of intraday markets is regarded as a high priority due to the increase in renewable generation sources – notably wind – which increases the demand for trading close to the time of delivery. Integrated regional and inter-regional markets, which offer easy access to bids and offers in other countries, are critical to the development of market liquidity.
Initially, with the support of market participants, Transmission System Operators and regulators, the aim is to establish a common intraday market for the Netherlands and Belgium. The next step could be to integrate this market with the existing Nordic/ German Elbas market.
The parties welcome other exchanges to join the cooperation.
APX-ENDEX is Europe’s premier provider of power and gas exchange services for the wholesale market, operating transparent platforms for short term and futures trading in the Netherlands, the United Kingdom and Belgium. Established in 1999, APX-ENDEX provides exchange trading, central clearing & settlement and data distribution services. APX-ENDEX has over 300 memberships from more than 15 countries. APX-ENDEX offers benchmark data and provides industry indices.
APX-ENDEX’s offices are located in Amsterdam, London and Nottingham.
For more information please visit www.apxendex.com
Belpex is a leading contributor to the integration of the European electricity markets, accountable for delivering transparent price signals to its participants and the community. Belpex is focused on delivering electricity market services that bring value to its members and the entire Belgian electricity wholesale market.
Belpex provides a trading platform for the negotiation of spot electricity trades and green certificates. Purchase/sale transactions are concluded directly, but anonymously, between the market participants.
For more information please visit www.belpex.be
About Nord Pool Spot
Nord Pool Spot runs the largest physical power market in the world, offering both day-ahead and intraday markets to its participants. 330 companies from 20 countries trade daily on the exchange. The Nord Pool Spot group has offices in Oslo, Helsinki, Stockholm, Fredericia (Denmark) and London. Nord Pool Spot is owned by the Nordic transmission system operators. In 2008 the group had a turnover of 300 TWh representing a value of EUR 15.0 billion.
For more information please visit www.nordpoolspot.com
For further information, please contact:
Head of Communications, phone +31 20 305 4000
Product Development Manager, phone +32 2 546 72 93
Nord Pool Spot
Karri Mäkelä, Director Operations, phone +358 9 6840 4810
Siw Hauge, Director Communications, phone + 47 90 61 59 92