Bulgarian Electricity Exchange IBEX said that it is starting member tests of a new integrated platform for trading of electricity onthe Bilateral contracts market segment. The tests will take place from May 13 to May 30.
The project aims at building an integrated solution which is to expand the IBEX portfolio with new segments and services, IBEX said in a statement published on its website.
The new TRIP platform (Trading and Reporting IBEX Platform) allows for increased efficiency and flexibility of the operator in terms of administration of trading in electricity and other products related to the power market, at the same time guaranteeing a high level of market transparency and efficiency.
The platform developed by IBEX provides a fully automated and integrated solution for holding auctions for the purchase and sale of long-term products along with the ancillary services of administration of the transactions. Guarantees of origin (GOs) will also be traded via the same platform, the testing and go-live of the additional screen being planned for the second half of 2024.
‘As a Nominated Electricity Market Operator, the main objective of IBEX has been to always provide an integrated, accessible and quality service which ensures equality, and transparency and meets market participants’ needs to the fullest extent possible. The new platform will provide all this- trading will be more secure, even more efficient and accessible via an integrated portal. A big advantage is also the flexibility of product settings and services configuration as well as the possibility for quick upgrades and following market needs’, said Konstantin Konstantinov, CEO of the power exchange.
On the first day of the new platform testing, 13th May 2024, IBEX will hold a webinar to demonstrate its functionalities and principles of operation.
Market participants will receive more information regarding participation in the tests and details about the webinar by the end of April.
