TGE (Polish Power Exchange) Launches New Trading System Powered by Nasdaq
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
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/
"This is an important milestone in our long-standing partnership with TGE," said
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
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 ofOrigin Register for electricity generated in renewable energy sources
· Guarantees ofOrigin 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
- NDAQG -
For Media Inquiries:
TGE
Agata Samcik
agata.samcik@tge.pl
Direct: +48 22 341 98 14
Mobile: +48 885 885 645
Nasdaq
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
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
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