Ireland Power Auction
On 12 May 2009, Tullett Prebon launched the Ireland Power Auction platform.
The Ireland Power Auction platform is a multi lateral trading facility (MTF) which offers trading entities the ability to offer and bid in auctions for financial swaps (namely contracts for differences or CfDs) which are indexed/referenced to the physical spot electricity prices in the Single Electricity Market (SEM)1.
CfDs are traded on the MTF in two currencies (Euro and Pound Sterling). In order to participate in the Ireland Power CfD Auction MTF, trading entities must enter into Master Agreement/s with trading counterparties as well as [signing up to / agreeing to trade in compliance with] the MTF terms and conditions.
1.The SEM is the physical wholesale electricity market operating in the Republic of Ireland and Northern Ireland. It is a gross mandatory pool operating with dual currencies and in multiple jurisdictions and was established in November 2007.
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