TGE (Polish Power Exchange) Launches New Trading System Powered by Nasdaq
(Thomson Reuters ONE) -
NEW YORK and WARSAW, Poland, June 05, 2017 (GLOBE NEWSWIRE) -- TGE (Polish Power
Exchange) and Nasdaq announced today that TGE has launched a new trading system
provided by Nasdaq. Nasdaq has partnered with TGE since 2008. The new technology
boosts TGE's 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. 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.
"The implementation of a modern comprehensive trading system in cooperation with
a proven partner marks a crucial business development step both for TGE and the
participants of the markets operated by the exchange," said Dr Pawel Ostrowski,
President of the Management Board of TGE. "The latest technology will allow us
to face European regulatory challenges and offer the necessary flexibility in
shaping our offering while providing the users with enhanced portfolio
management options for selling and buying instruments traded at TGE."
In the second phase of introducing the advanced technology, Nasdaq will
collaborate with TGE in implementing a new system that supports the electricity
auctions for interconnections under the Market Coupling mechanism. The launch of
the system, which is scheduled for late-June/early-July 2017, 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.
"This is an important milestone in our long-standing partnership with TGE," said
James Martin, Regional Manager, EMEA, Market Technology, Nasdaq. "With the
release of this new trading platform, we are proud to provide a fully integrated
trading and clearing solution for the Polish market that supports TGE's efforts
in addressing the changing regulatory landscape, as well as continuing to
support their business growth in the region for the years to come."
Nasdaq's market infrastructure technologies, including trading, real-time risk,
index, clearing, CSD and market surveillance systems are operated in over 100
marketplaces, regulators, clearinghouses and central securities depositories in
the United States, Europe, Asia, Australia, Africa and the Middle East. Nasdaq
is also the technology partner of IRGiT (Warsaw Commodity Clearing House),
controlled by TGE, which has been providing clearing services with the use of
the Nasdaq Packaged CCP system since June 2016.
About TGE:
* 16 years on the market, the only licensed commodity exchange in Poland
(licence since 2003)
* Strong and stable shareholder - Warsaw Stock Exchange (since February 2012)
* Member of the European Multi-Regional Coupling (MRC) market and the Price
Coupling of Regions (PCR) initiative
* Nominated Electricity Market Operator (NEMO) designated by the President of
ERO
* TGE guarantees the reliability and security of trading on all markets it
operates:
· Commodities Market - electricity, natural gas, property rights, CO2
emission allowances
· Financial Instruments Market - electricity
· Certificates of Origin Register for electricity generated in renewable
energy sources
· Guarantees of Origin Register
* Featured on the ACER's list of platforms for reporting transaction
information according to REMIT requirements
* Relationship with an experienced NASDAQ technology partner - X-stream
Trading Technology
To learn more, visit https://www.tge.pl/en
About Nasdaq:
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange
technology, listing, information and public company services. Through its
diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and
execute their business vision with confidence, using proven technologies that
provide transparency and insight for navigating today's global capital markets.
As the creator of the world's first electronic stock market, its technology
powers more than 89 marketplaces in 50 countries, and 1 in 10 of the world's
securities transactions. Nasdaq is home to 3,800 total listings with a market
value of $11 trillion. To learn more, visit: http://business.nasdaq.com.
- NDAQG -
For Media Inquiries:
TGE
Agata Samcik
agata.samcik(at)tge.pl
Direct: +48 22 341 98 14
Mobile: +48 885 885 645
Nasdaq
Ryan Wells
ryan.wells(at)nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 05.06.2017 - 10:00 Uhr
Sprache: Deutsch
News-ID 546206
Anzahl Zeichen: 5971
contact information:
Town:
New York
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 236 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"TGE (Polish Power Exchange) Launches New Trading System Powered by Nasdaq"
steht unter der journalistisch-redaktionellen Verantwortung von
Nasdaq (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
