Method and a system for trading energy contracts in an exchange

• US 20030110118A1
• Filed: 12/11/2001
• Published: 06/12/2003
• Est. Priority Date: 12/11/2001
• Status: Abandoned Application

• Current Assignee: OMX Technology AB
• Original Assignee: OMX Technology AB
• Inventors: Tilfors, Jan
• Application Number:
  US10/012,249
• Publication Number:
  US 20030110118A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/06 Energy or water supply
• CPC Class Codes: H02J 3/008 involving trading of energy or energy transmission rights
• CPC Class Codes: Y04S 10/50 Systems or methods supporting the power network operation or management, involving a certain degree of interaction with the load-side end user applications
• CPC Class Codes: Y04S 50/10 Energy trading, including energy flowing from end-user application to grid

Abstract

In an exchange trading energy virtual contracts are formed by aggregating particular, standardized contracts, in particular short-period contracts, into any number of contract types. Settlement of the aggregated, virtual, contract is then performed by settling a number of standardized contracts.

Claims

1. A computerized system for matching energy contracts, the system comprising means for receiving orders from a multitude of remote terminals feeding the system with orders to be matched in the system, means for matching orders received by the system and means for output of the result of the matching and further having a memory, an orderbook, for storing orders not being possible to match directly, wherein the system is designed to handle a first number of different contracts, standardized contracts, corresponding to different time periods, the system further comprising

means for forming an additional number of contracts, virtual contracts, by aggregating a number of said first number of standardized contracts.

2. A system according to claim 1, further comprising

means for a matching a virtual electricity contract and a calculated virtual electricity contract when the price of a calculated virtual contract as calculated from prices of standardized contracts in the orderbook is matched by a virtual contact order received by the system.

3. A system according to claim 1 or 2, further comprising

means for a matching a virtual electricity contract and a calculated virtual electricity contract when the price of a virtual contact order received by the system and stored in the orderbook is matched by a calculated virtual contract as updated by a change in the price(s) of standardized contracts forming the calculated virtual contract.

4. A system according to any of claims 1-3, further comprising

means for a matching a virtual electricity contract and a calculated virtual electricity contract when the price of a virtual contact order received by the system and stored in the orderbook is matched by a calculated virtual contract as updated by a change in the price(s) of standardized contracts forming the calculated virtual contract.

5. A system according to any of claims 1-4, wherein said first number of standardized contracts is less than five.

6. A system according to any of claims 1-5, wherein one of said first number of standardized contracts corresponds to one-hour contracts or half-hour contracts.

7. A system according to any of claims 1-6, wherein said first number of standardized contracts is limited to only one type of standardized contract.

8. A system according to any of claims 1-7, wherein the energy contracts are electricity contracts

9. A method of matching energy contracts in a computerized matching system comprising means for receiving orders from a multitude of remote terminals feeding the system with orders to be matched in the system, means for matching orders received by the system and means for output of the result of the matching and further having a memory, an orderbook, for storing orders not being possible to match directly, wherein matching is enabled between a first number of different contracts, standardized contracts, corresponding to different time periods, and also between an additional number of contracts, virtual contracts, formed by aggregating a number of said first number of standardized contracts.

10. A method according to claim 9, wherein matching between a virtual electricity contract and a calculated virtual electricity contract occurs when the price of a calculated virtual contract as calculated from prices of standardized contracts in the orderbook is matched by a virtual contact order received by the system.

11. A method according to claim 9 or 10, wherein matching between a virtual electricity contract and a calculated virtual electricity contract occurs when the price of a virtual contact order received by the system and stored in the orderbook is matched by a calculated virtual contract as updated by a change in the price(s) of standardized contracts forming the calculated virtual contract.

12. A method according to any of claims 9-11, wherein matching between a virtual electricity contract and a calculated virtual electricity contract occurs when the price of a virtual contact order received by the system and stored in the orderbook is matched by a calculated virtual contract as updated by a change in the price(s) of standardized contracts forming the calculated virtual contract.

13. A method according to any of claims 9-12, wherein said first number of standardized contracts is less than five.

14. A method according to any of claims 9-13, wherein one of said first number of standardized contracts corresponds to one-hour contracts or half-hour contracts.

15. A method according to any of claims 9-14, wherein said first number of standardized contracts is limited to only one type of standardized contract.

16. A method according to any of claims 9-15, wherein the energy contracts are electricity contracts