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March 29, 2005

Polish Power Exchange chooses OMX’s trading and clearing system

Towarowa Gielda Energii, the Polish Power Exchange, has selected the Condico trading and clearing system from Stockholm-based OMX for use in the electricity spot and electricity derivatives market.

By CBR Staff Writer

The agreement includes the license, project and five-year support of the system, and will see OMX set up a green certificate register to enable trading of such certificates in the future.

The Polish energy market is still in a quite early stage of liberalization, but already requires sophisticated technology to encourage the participants to explore all possibilities of both spot and financial markets for energy and natural gas, said Grzegorz Ornichimowski, CEO, Towarowa Gielda Energii. By choosing OMX to provide us with the technology solution, we can be sure that we’ll be able to meet new challenges and fully explore the opportunities.

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