Bulgaria: EVN Trading starting automated electricity trading, SEE Energy News
EVN Trading is the first trader in Bulgaria to start automated electricity trading on Independent Bulgarian Energy Exchange (IBEX). This has become possible after the company has implemented the API connectivity technological application of the leading European operator of electricity trading platforms Nord Pool, which is offered in our country by IBEX. The application allows automated trading on the Intraday market segment.
Executive member of the Board of Directors of EVN Trading Martin Slavov said that the company is pleased that, together with IBEX, it continues to develop electricity trading in Bulgaria. API implementation demonstrates the commitment of IBEX to follow the best practices in Europe. Automated intraday trading increases market efficiency and helps market participants to meet their customers’ need better and more quickly.
IBEX CEO Konstantin Konstantinov said that thanks to technology, electricity trading is becoming as automated as possible and very dynamic. Those market participants that are the first to introduce innovations will have a competitive advantage over the others and most importantly- this will be of the greatest benefit to their customers and consumers.
API provides connectivity options so that registered market participants can effectively integrate their platforms with existing electronic trading systems, aiming for greater convenience, shorter response time, accurate reports and security. The advantages of API implementation are: effective and seamless integration with internal trading systems, back-office systems and operating tools; automated trading to maximize market opportunities; customized and automated reports and consolidated web-based IT solutions.
Only market participants registered on IBEX that have obtained the status of active on the intraday market segment are entitled to use API for trading.