APX-ENDEX, Belpex and Nord Pool Spot have signed a Principles of Cooperation to work together to develop and establish an integrated cross-border intraday trading solution, with the ultimate goal of facilitating a single market across Europe.

The integrated cross-border trading solution will be based on the Elbas technology, which has a proven track record in the Nordic market over many years. The solution will be linked to the existing back office settlement, clearing and nomination systems operated by the different exchanges.

The parties will work together on the development to meet the requirements of an enduring regional and inter-regional intraday cross-border solution. Utilising existing systems and arrangements in a co-operative approach will allow the parties to offer realistic solutions in the short term as well.

The development of intraday markets is regarded as a high priority due to the increase in renewable generation sources – notably wind – which increases the demand for trading close to the time of delivery. Integrated regional and inter-regional markets, which offer easy access to bids and offers in other countries, are critical to the development of market liquidity.

Initially, with the support of market participants, Transmission System Operators and regulators, the aim is to establish a common intraday market for the Netherlands and Belgium. The next step could be to integrate this market with the existing Nordic/ German Elbas market.

The parties welcome other exchanges to join the cooperation.

- ENDS