IBEX EAD organizes and holds training sessions both for persons responsible for trading nominated by trading participants and persons interested in the set-up and operational principles of the organised power exchange market for electricity.

Taking training and/or passing a test are prerequisites for participation in the market segments administrated by IBEX EAD and access to the respective electronic trading system.

During the training, the IBEX EAD team also focuses on practical trading simulating various scenarios typical of the trading strategies of the different categories of trading participants on the electricity market.

Application for training (Downloads section, Applications subsection, IBEX website);

Power Exchange Operational Rules – stipulate the conditions under which a trading participant is entitled to access to the electronic trading systems administrated by IBEX.

Instruction № 1 Training and certification – stipulates the procedure for the training of persons responsible for trading and the procedure for taking a test for knowledge of PEOR provisions and operation with the electronic trading systems on Day-ahead, Intraday and Bilateral contracts market segment.

Duration and price of the training: There is separate training, test and certification for the spot markets, including  Day-ahead and Intraday market segment, and Bilateral contracts market segment. The duration of a training session is 1 /one/ calendar day and more than one training session can take place within the same day depending on the number of registered attendees. The training fees are available on the website in the IBEX EAD Tariff section.

Topics covered during the training sessions:

• The training sessions held by IBEX EAD include a theoretical and practical part.
• Theoretical part

– Trading:

• General information about IBEX EAD
• General features of the market segments and models operating in Europe
• Principles of operation of the market segments
• Power Exchanges Operational Rules
• Types of products and orders
• Trading mechanisms

– Settlement:

• Settlement rules
• Acceptable types of collateral, types of collateral
• Provisions and procedures for release of collateral
• Payment and invoicing provisions

Practical part:

• Access to the electronic trading systems
• Demonstration of the electronic trading systems functionalities
• Demonstration of the ways of submitting orders and concluding transactions
• Viewing trading results
• Simulation of trading scenarios.

IBEX EAD administrates test environments of all electronic trading systems and settlement systems which can be used by the persons responsible for trading and the persons responsible for settlement and collateral to improve their skills after the training.

The test contains a theoretical and practical part:

– The theoretical part contains questions related to the Power Exchange Operational Rules and the technical parameters of the electronic trading systems

– The practical part contains tasks the completion of which requires that the person responsible for trading have the necessary skills for operation with the electronic systems.

The test is considered as successfully passed upon a minimum score of 75% of the total number of points based on the answers provided and practical tasks performed.

The tests are taken online.

After passing the test, the person responsible for trading obtains a certificate issued by IBEX EAD.

• • On-site training
    At the premises of IBEX EAD
    
    When more than 6 persons per trading participant are enrolled, the training can take place at the trading participant’s office or conference room.

• • Online training
    Via a web-based application.