Romania: OPCOM launches three mechanisms for gas trading

30. July 2015. / SEE Energy News

Since July, within OPCOM stock exchange, licensee carrier and customers of natural gas, that would sign the Convention on the Participation in the trading, have three mechanisms – the exchange by public auction; open auction trading and continuous negotiations; and OTC mechanism, said in OPCOM’s statement.

Regulatory Committee approved on July 1st a new set of procedures for participation in the centralized natural gas market managed by OPCOM.

Characteristics of the mechanism of public auction:

Market participants can register for participation in the auction:

1. for the purchase or sale of natural gas,

2. as a buyer or licensee carrier to supply

3. as the auction initiator or auction participant

Offers and contract content sets the initiator auctions

Each session has an online auction

Commercial platform has ISO 27001 certification and uses the technology provided by Nasdaq

Guarantees to the tender participants are provided with the signing of the contract

The mechanism of an open auction trading and continuous negotiations:

– Market participants can register for participation in the auction:

1. for the purchase or sale of natural gas

2. as a buyer or licensee carrier to supply

3. as the auction initiator or auction participant

– Characteristics and content offers a standard contract form, approved by the regulatory agency ANRE based on the proposal of the Working Group for the natural gas market

– They are subject of standard shopping for weekly, monthly, quarterly and annual delivery

– Online trading is carried out in two phases, in the headquarters of market participants

– Commercial platform has ISO 27001 certification and uses the technology provided by Nasdaq

– Guarantees to the tender participants are provided with the signing of the contract
OTC mechanism:

Market participants can register for participation in the auction::

for the purchase or sale of natural gas

as a buyer or licensee carrier to supply

Each trade session takes place online, every day, in one step, in the premises of market participants

They are subject of standard shopping for weekly, monthly, quarterly and annual delivery; biennial and annual products are available for a certain period, in line with European practice

Available trading platform has a standard ISO 27001 and uses the technology that has provided Trayport Ltd.
Participants enter into transactions anonymously

Eligibility lists is determined by market participants under the contract, including the type of EFET agreement

The transactions are defined by the contract between the parties

Market mechanisms implemented by OPCOM have proven their viability in Europe, showing that the contracting may serve the interests of participants in the energy markets, said in the OPCOM statement.

Technical solutions implemented by OPCOM have proven their performance on the European energy markets for trading in electricity and gas, which can be realized through the 14 gas hubs, 12 electricity stock exchanges and six clearing houses, from 19 European countries and the Nordic region.

By implementing these measures, OPCOM wants to contribute to the harmonization of the Romanian gas market with European best practice, creating conditions by which transactions results can be secured by pan-European solutions for clearing, settlement and risk management. , transmits Serbia-energy.eu

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