The projects of TGE and IRGiT in the Strategy of the WSE Group Print +

The projects of TGE and IRGiT in the Strategy of the WSE Group

On 27 June 2018, the WSE Group has announced its updated strategy #GPW2022.  The presentation covered 14 strategic initiatives aimed at supporting the Group’s growth dynamic while driving innovation in the Polish economy.

Towarowa Giełda Energii (TGE) and the Commodity Clearing House (IRGiT) have been actively participating in the definition of the WSE Group strategy over the last six months. The efforts and commitment of the companies’ Representatives led to the creation of initiatives which fit in with the overall strategy of the Group.

During the conference held on June 27th, Piotr Listwoń, Vice President of the TGE’s Management Board, presented two projects to be implemented by TGE within the framework of the commodity market.

The first one is the Organized Trading Platform (OTF), aimed at strengthening the existing business line – the forward instruments market – and enabling not only further development of already offered products, but also introduction of new ones.  The initiative consists in transforming the commodity forward instruments market operating within the TGE’s structure into an organised trading platform, in accordance with the requirements of the MiFID II. A licensed OTF platform will enable future trading in electricity and gas forward contracts with physical delivery, in accordance with the applicable legal regulations. It also offers an opportunity for continued fulfilment of the public trading obligation on the transformed market as well as further clearing of transactions by IRGiT based on the currently used forms of collaterals and under its current structures, thanks to which the costs of operation of that market for the participants will not increase.

The second project included in the strategic plans is meant to provide access an Auction Platform for Infrastructure Services related to the electricity and gas markets. The platform is a response to the currently observed intensive efforts aimed at the development of different kinds of energy infrastructure in Poland and the evolving expectations of the participants of the electricity and gas markets. The solution proposed by TGE will be based on transparent and standardized rules of access and provision of infrastructure services in consultation with the operators of these services.

Seweryn Szwarocki, Vice President of the IRGiT Management Board, presented the Clearing of OTC Transactions as an additional business line to complement the House's offering. Under the contemplated model, the initiative provides for the possibility of offsetting payments and margins on account of exchange and over-the-counter (OTC) transactions in a single place, which will reduce the costs incurred by market participants in connection with the operation of the collateral system. This will also increase the security of clearing. As part of the offering, the House also plans to relieve market participants of the obligation to report transactions. First of all, the service will be available to the present clearing members of the House, and in the future it will become the basis for development of the clearing offer not only for other trading platforms, but also for other markets.

Kurier TGE

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