RegionsEEAPoland’s TGE revamps trading system

Poland’s TGE revamps trading system

The Polish Power Exchange’s new platform is powered by Nasdaq and allows it to expand the business offering.

The Polish Power Exchange, aka TGE, has launched a new trading system provided by the US electronic exchange operator Nasdaq, extending a partnership between the two that began in 2008. TGE said that the new technology boosts its markets performance capabilities and operational flexibility, allowing the exchange to expand future activities, including adding commodity and derivative instruments to its business offering.

“The trading platform operated by TGE features comprehensive multi-market model support, a wide range of order type and asset types, market maker support, execution of derivatives market strategies, market data processing and integrated index calculator as well as comprehensive risk management and real-time position keeping and market control and supervision,” the exchange announced. “Nasdaq’s matching engine is the most widely-used worldwide, processing orders at the rate of 100,000 per second at sub-40 microsecond average latency.

In the second phase, Nasdaq will collaborate with TGE to implement a new system that supports the electricity auctions for interconnections under the market coupling mechanism. The launch, scheduled within the next month will enable the operation of a cross-border, day-ahead market according to the standards of the price coupling of regions. TGE will start operating as a coordinating exchange under the European Multi-Regional Coupling project.

Established in 1999 as part of the liberalisation of Poland’s electricity and natural gas markets, TGE has been the country’s only licensed commodity exchange since 2003 and has been wholly-owned by the Warsaw Stock Exchange since 2012.

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