PXIL launches new trading platform – PRATYAY

Power Exchange India Limited (PXIL), India’s first institutionally promoted power exchange, has unveiled its new technology-based Trading Platform — PRATYAY — that has now gone live. The tech-enabled platform aims to ease participation and provide customer delight for trading on the exchange. The new service provides a single platform for all segments and offers hassle-free migration from thick client-based solution to a complete web-based solution with many other benefits.

Equipped with a user-friendly approach, PRATYAY includes features such as Auto Update at user end, web browser operations, ease of report export and printing, and smart UI. The technologically advanced platform helps to eliminate participant-driven update on their PC such that no action is required on the client’s end. The client starts experiencing revised features and functionalities as and when an upgrade is available.

PRATYAY also contains modules for Risk Management as well as Clearing and Settlement. It enables stage-wise risk management and margining, which allows payment security and trade margins to be applicable based on status of order, transaction, clearance and settlement. This allows more efficient capital deployment by participants for their trades and reduces the cost of working capital for participants, while at the same time retaining the underlying security of financial settlement while transacting through PXIL.

The contract creation modules, matching algorithms and the robust and yet flexible database structure helps to reduce time to introduce any new contract or functionality as may be required for development of the market. Furthermore, the robust and yet flexible database structure helps to reduce time to introduce any new contract or functionality as may be required for development of the market.

Started in 2008, PXIL launched the Term Ahead Market in 2009 and REC segment in 2011 and achieved a substantial market shares in these segments. The contracts listed on the exchange are divided into two broad categories, “Physical” and “Certificate”. The “Physical” category is further classified into “Collective” and “Bilateral”, wherein “Collective” segment consists of “Day Ahead Spot”, which has now been relaunched and “Real Time Market”, which is likely to start in coming months. Under the “Bilateral” segment are the products, “Day Ahead Contingency”, “Intraday (24×7)”, “Weekly” and “Anyday”. In the remaining category of “Certificate” includes Renewable Energy Certificates (RECs) and Energy Saving Certificates (ESCerts).