Independent Bulgarian Energy Exchange selected Trayport’s Trading System as a platform for administration of a centralized market for bilateral contracts

Independent Bulgarian Energy Exchange is pleased to announce that Trayport’s GlobalVision Trading System has been selected as an electronic trading platform for the organization of a centralized market for bilateral contracts in the Bulgarian power market. 

IBEX is committed to develop a transparent and efficient power market in compliance with the principles and practices established on the developed European markets for electricity and based on transparent and non-discriminatory basic principles. In order to ensure the fulfillment of its goals, and to deliver valuable service to the Bulgarian market participants, IBEX chose Trayport’s Trading System that has proven itself to be the preferred hybrid e-broking system in energy markets. The Trading System is an award-winning, multi-asset class electronic trading platform with a sophisticated matching engine and customizable front-end which is designed to enhance broker voice operations and facilitate an electronic hybrid brokerage model for OTC markets supporting an aggregated trading model. 

“The launch of the Day Ahead Market was a big step in the liberalization of the electricity market and establishing of Bulgaria in the European energy landscape” said Konstantin Konstantinov, CEO of IBEX. “The expectations in the market are that we will continue to evolve introducing mechanisms and principles already inherent in the broader European market. With the introduction of the centralized market for bilateral contracts IBEX will give a new trading opportunities for market participants and will contribute for transparency and equality of the electricity market. We strongly believe that the selection of Trayport’s Trading System will allow us to propose the best option for trading with short, medium and long term contracts.”  

“We are excited that IBEX has chosen Trayport as its trading solutions partner. The addition of Bulgaria to the established Trayport European power trading network not only increases the number of markets available to European traders but also connects into Turkey. ” said Paul Constantinou, Regional Sales Manager at Trayport. 

About IBEX

IBEX was established January 2014, as a fully-owned subsidiary of the Bulgarian Energy Holding EAD. IBEX holds a 10-year license by the State Energy and Water Regulatory Commission to organising a Power Exchange for electricity in Bulgaria. IBEX has been operating the day-ahead market for electricity in Bulgaria since January 2016. 

About Trayport Limited

Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes worldwide in cleared or OTC markets. Trayport’s GlobalVisionSM software is used by the world’s largest trading companies in high profile markets that include derivative and cash instruments. Founded in 1993, Trayport has offices in London, New York and Singapore.  Trayport is a wholly-owned subsidiary of Intercontinental Exchange, Inc. (NYSE:ICE).