press center press release

OMX to provide trading and clearing system CONDICO™ to OPCOM, the Romanian Power Market Operator


OMX to provide trading and clearing system CONDICO to OPCOM, the Romanian Power Market Operator OMX, a world leading provider of marketplace solutions and services for the financial and energy markets, today announced that the Romanian Power Market Operator (OPCOM) has awarded OMX a contract of a total value of 3.6 million Euro to deliver the trading and clearing system CONDICO for financial energy trading. OPCOMs selection of an external supplier of a trading system was done as a PHARE project, a European Commission programme. Using the European Commission valuation criteria for PHARE projects, the selection of OMX was done in an open tender bid process. OPCOM has for four years operated the Romanian power day-ahead market and is recognized as a leader in the Romanian power market liberalization. OPCOM is now taking the next step towards the establishment of a well-functioning power market by starting the deployment of a new platform for trading and clearing of power derivatives. OPCOM considers the partnership with OMX to be a solid base for the future success of this new financial power marketplace, declared Victor Ionescu, CEO, OPCOM. The fact that OMX has been chosen to deliver the energy trading and clearing system to OPCOM is an acknowledgement of our position as a leading provider to the global energy industry and is important in our efforts to strengthen our position and offerings to the emerging markets, said Klas Ståhl, President OMX Technology. The CONDICO platforms flexibility and comprehensive functionality have proven key in being selected for this contract. --- About CONDICO CONDICO is a highly flexible and scalable marketplace solution specially designed to meet the considerable challenges involved in creating an infrastructure for trading and clearing of commodities. CONDICO is based on a web centric, open standards-based architecture and marketplace platform that features a comprehensive set of functionality for bid and order management, matching and information dissemination. The post-trade functionality including deal capture, position management, risk valuation and settlement, makes it a complete marketplace solution ready to be customized according to the respective markets needs and requirements, and to be expanded in line with business growth. About OMX OMX owns and operates the largest securities market in Northern Europe and is a leading provider of marketplace services and solutions for the financial and energy markets. OMX consists of two divisions: OMX Technology a world-leading provider of outsourcing and transaction processing solutions and services based on pioneering and proven technology, and OMX Exchanges the integrated Nordic and Baltic marketplace for securities, giving customers access to approximately 80 percent of the Nordic and Baltic securities market. OMX is listed on the Stockholm Stock Exchange and the Helsinki Stock Exchange. For more information please visit About OPCOM The Electricity Market Operator (OPCOM), wholly-owned by the Independent Transmission system Operator Transelectrica, was set up in September 2000 and is entrusted with the organisation and management of the Romanian electricity market. OPCOM has the mission to provide an organized, viable and efficient framework for deployment of commercial transactions in the electricity market, based on continuity, fairness, independence, equidistance, non-discrimination and transparency conditions, in accordance with the Company Statute as well as with the Licence no. 407/2001 issued by the Romanian Electricity and Heat Regulatory Authority. According with the mission and in coherence with the envisaged stages of regional market development, OPCOM intends to establish a forward electricity market including the establishment of a clearing house to support clearing of bilateral contracts and a marketplace for trading of power derivatives. More information is available at For more information, please contact: OMX Kjell Asserlind, VP International Energy Sales +46 8 405 6112 Anna Rasin, VP Marketing & Communications +46 8 405 6612 OPCOM Rodica Popa, +40213071467 Head of Guaranty Mechanisms and Financial instruments department PDF

In This Story

Nasdaq Press Center

Read the latest press releases, request a press kit, and get in touch with our press team.

learn more