The Futures and Options Association’s Market Design Project is entering a critical and final phase as market participants prepare to enter a period of testing the platforms of the remaining respondents, the association says.
The responses received have all been scrutinized in great detail by the Project Control Board and the specialist working Groups set up by the Board.
The association says in order to understand the unique differentiating features of the short-listed group of respondents, the board will tesst the intra–day platforms for functionality and review the implementation cosst. The auction platform will also be tested to see if its suitable for the UK market.
With the motive of generating as much interest in the project as possible, the Project Control Baord has decided to open the testing process to all participants in the UK wholesale power market. Those who wish to take part in the testing process may do so provided they sign a non-disclosure agreement and consent to such broader participation. Once the test is complete, the number of remaining respondents will be further reduced with a view to making a final recommendation within three weeks of successful completion of all tests.